SBI Mutual Fund has revised the load structure in Magnum Income and Magnum InstaCash- Short Term Plan , effective December 1, 2002. Under the Magnum Income Fund it would remove the exit load for investments above Rs 10 lakh. However, for investment upto Rs 10 lakh, there has been no change in the exit load. Currently, the fund carries an exit load of 0.50 % for application amount less than Rs. 10 lakh and if redeemed within six months and 0.35 % for application amount is above Rs. 10 lakh and redeemed within three month.
Magnum InstaCash - Short Term Plan has removed the exit load. Currently, the fund carries an exit load of 0.15% if redeemed within 10 days.
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