Bharti AXA Investment Managers has removed exit load from all its equity funds with effect from September 1, 2010. It has become the first fund house to remove exit load from all equity funds. From September 1, no exit load would be charged on Bharti AXA Equity Fund and Bharti AXA Focused Infrastructure Fund.
According to a press statement issued by the fund house, the new initiative offers the investor to invest at his convenience. “With the current volatility in the equity segment, investors would want to have the power to exit any time they wish, albeit keeping in mind the long term growth prospective. No exit load will provide them the comfort of letting them exit whenever they choose.”
Vikaas Sachdeva, business head, Bharti AXA Investment Manager, said that the new feature would prove to be a big differentiator among same equity funds with similar returns. “If you have two banks offering same home loan at similar rates, you would go for the one that has easier pre-payment options. We are offering load-free exit option to investors as a unique feature in our funds,” he added.
SBI Blue Chip in only other equity diversified fund that has no exit laod
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