DSPML Mutual Fund has revised features of in all schemes to make them more investor friendly. All the below given changes will be effective from November 1, 2002.
Scheme specific changes:
DSPML Liquidity Plan: The purchase and redemption cutoff times have been revised to 3:30 p.m. from 10:15 a.m. and 12:00 p.m. previously. The exit load of 0.25% has also been removed.
DSPML Government Securities Fund: Redemption cut off time of DSPML GSF has also been amended from 1:00 p.m. to 3:30 p.m.
Longer Duration plan: The Contingent Deferred Sales Charge (CDSC) for investments above Rs. 5 lacs is being removed. The existing CDSC structure in respect of investments for and below Rs.5 lacs will continue.
Changes Common to all schemes:
Some changes have been made in the investment terms to standardize them across the board.
Minimum Application amount has been made uniform at Rs. 1000, and further investment can be made in multiples of Re. 1/-. The minimum account balance and minimum redemption requirement have also been reduced to Rs. 500.
Systematic Investment Plan : With respect to DSPML Bond, Equity and GSF, minimum amount for investment has been reduced to Rs. 500 and further investment amount has also been reduced to multiples of Rs.100. However, a new facility is being introduced, using which an investor can make payment for SIP's of multiple schemes through a single cheque.
Systematic Withdrawl Plan: Likewise to bring uniformity across all the schemes SWP of DSPML Balanced, Technology, Opportunity and Govt. Securities Fund have been reduced to Rs. 200 and in multiples of Rs.100 thereafter.
Besides all these changes, the AMC plans to introduce a systematic Transfer plan facility (STP). Using which a specified amount of the investment will automatically be transferred on a monthly or quarterly basis from one scheme to another scheme. This may be of benefit to investors who plan to graduate from Debt funds to Equity funds on a systematic basis.