Birla Sun Life AMC has introduced Monthly Dividend Sweep Option under the Retail option of Birla Sun Life Dynamic Bond Fund. Under this option, the minimum application amount will be Rs. 5 lakhs (minimum additional investment of Rs. 1,000), and the dividends earned can be switched into any other open-ended Equity Scheme or Balanced Scheme of the fund house. The dividend shall be switched subject to a minimum amount of Rs. 1,000/- per switch.
The fund house stated the same through its notice dated January 08, 2009. The new option will be introduced with effect from January 12, 2009. Units will be on offer for Rs. 10 per unit, and at NAV Based prices thereafter. The new option will have the same objective, load structure, portfolio and expense ratio.