Fortis Mutual Fund has announced the conversion of Fortis Sustainable Development into an open ended scheme, effective April 23, 2010.
The details of the scheme are as follows:
Investment Strategy: The scheme will invest in companies comprising the S&P CNX 500 Index and chosen on the basis of scores arrived from the Governance Template developed by S&P, New York and an Environmental and Social Template developed internally by CRISIL. Earlier S&P CNX 500 Index Companies is used as index by CRISIL.
Load:
Entry load: Nil
Exit load: 1 per cent if redeemed with in 1 year from the date of subscription.
Facilities Offered: SIP, STP, SWP.
STP: Investors can opt to transfer a fixed amount or capital appreciation amount from debt schemes at regular interval. STP facility is also available from Fortis Sustainable Development Fund to Fortis MIP.
SWF: Facilities under SWF are as follows:
1. Fixed Systematic Withdrawal Facility at Monthly/Quarterly intervals.
2. Capital Appreciation Systematic Withdrawal Facility offers withdrawal of the entire capital appreciation from the scheme at Monthly/Quarterly intervals.
The changes being fundamental in nature, existing investors are given an option to exit the scheme between March 23, 2010 and April 22, 2010 without any load.
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