L&T Mutual Fund has announced a change in load structure of its Triple Ace Bond Fund. The new structure will be applicable on redemptions, with effect from May 23, 2013.
Following the change, redemptions on or before 3 months from the date of purchase will attract exit load at 1.5 per cent. Redemptions after 3 months from the date of purchase will have zero exit load.
A switch or a withdrawal under SWP, or transfer under STP may also attract exit load/ CDSC like any redemption. No exit load/ CDSC will be chargeable in case of switched between different options of the scheme.
No exit load will be chargeable in case of units allotted on account of dividend reinvestments, and units issued by bonus.