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L&T Mutual Fund: Change in Load Structure and dividend declaration


L&T Mutual Fund has revised the exit load of two schemes. L&T Income Opportunities Fund will have an exit load of 2 per cent for redemption within 2 years of allotment, 1.5 per cent for redemption between 1 year and 2 years and 1 per cent for redemption between 2 years to 3 years. Presently, the scheme has exit load of 2 per cent for redemption within 1 year and 1 per cent for redemption between 1 year and 2 years.

L&T Monthly Income Plan will have an exit load of 1 per cent for redemption within 3 years of allotment. Presently it is, 1 per cent for redemption within 1 year.

The change will be effective from September 01, 2014.

The Fund House also announced dividend under the dividend option of L&T FMP Series XI Plan B Direct-D and L&T FMP Series XI Plan B-D.

The quantum of dividend will be the entire distributable surplus as on the record date. The record date has been fixed as August 20, 2014.