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JM Financial Mutual Fund announces changes in Chhota STP and Combo SIP

JM Financial Mutual Fund has announced few changes in Chhota STP and Combo SIP for the open ended equity (excluding ELSS), debt and liquid schemes with effect from July 27, 2011.
The following changes have been announced:
1. Minimum mandatory installments (of equal amounts) shall be 60
2. Minimum period required to start 1st STP/ extend the STP after receiving the request shall be 15 calendar days.
It is further classified that to treat an application for Chhota STP/ Combo SIP as valid, at least 50 installments should be received within 90 calendar days from the start of the first STP.