Deutsche Mutual Fund has notified introduction of 'Auto Sweep Plan' under DWS Premier Bond Fund. Under this plan, auto sweep facility of the amount to any of the equity fund managed by the fund house is available to investors.
Details of the plan introduced are as follows:
Minimum application amount: Rs. 1,00,000/-
Minimum additional application / redemption amount: Rs. 1,000/-
Face Value: Rs. 10 per unit.
Entry load: Nil.
Exit load: 3% if units are redeemed before 12 months. No exit load is applicable for switches into equity funds of Deutsche MF.
Benchmark: Crisil Composite Bond Fund Index.
Total recurring expenses (estimated): 2.25% of net assets (including Management Fee of 1.25%).
The 'Auto Sweep Plan' shall be introduced with effect from February 09, 2009 and will be managed under a single portfolio.