IDBI PRINCIPAL Mutual Fund has announced a change in the load structure of IDBI PRINCIPAL Income Fund, with effect from October 23, 2002. The fund would charge an exit load of 0.50 percent, for subscription upto Rs 10 lakhs and redeemed within 180 days. This would be applicable for all redemption and switch out transactions.
The AMC has announced changes in other schemes also. The cut-off time for subscription and redemption in all schemes except the Short Term Plan have been changed to 2.30 pm. There will be no change in business hours of Cash Management Fund and Short Term Plan. The cut-off time for switch-over transactions for all schemes will be upto 12.00 noon. A switch cum redemption request will not be accepted on the same day. The redemption request for switch in units will be booked only on the next business day after the switch transaction.
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