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IDBI Equity Advantage Fund discontinues dividend reinvestment option

IDBI Mutual Fund has decided to discontinue dividend reinvestment option under regular and direct plan of IDBI Equity Advantage Fund with effect from February 06, 2015.

The fund house has also made the following changes to daily STP facility:

Amount of transferMinimum duration
₹200 to ₹50030 days
₹500 to ₹100012 days
₹1000 & above6 days

The above facility will also be available under IDBI Short Term Fund in addition to IDBI Liquid Fund and IDBI Ultra Short Term Fund for transferring funds to equity schemes.

The daily STPs into IDBI Equity Advantage will be made at a minimum of ₹500 and in multiples of ₹500 thereafter.

The effective date is February 06, 2015.