Change in exit load of IDBI Nifty Index Fund and Nifty Junior Index Fund and Renaming of IDBI Tax Saving Fund

IDBI Mutual Fund announced change in exit load of IDBI Nifty Index Fund and Nifty Junior Index Fund to 1 per cent for redemption within 30 days of allotment. Presently it is, 1 per cent for redemption within 1 year. The revised exit load for SIP will be 1 per cent for exit within 30 days of allotment, against the previous 1 per cent for exit within 1 year.

The Fund House announced to change the name of IDBI Tax Saving Fund to IDBI Equity Advantage Fund. The type of the scheme along with all other attributes will remain unchanged.

The above mentioned changes will be effective from April 01, 2014.