IL&FS Bond is also introducing a Bonus Plan under its growth option. The record date for the payment of bonus is December 11, 2002. The existing investors of IL&FS Bond Fund Growth Plan can transfer their holdings partly or fully to the new Plan at the applicable NAV on December 4th and 5th, 2002. Such transfers will not attract any entry or exit load. The plan will be open for subscription for all investors including investors from other schemes of IL&FS Mutual Fund and from other plans of IL&FS Bond, from December 6, 2002 onwards.
The minimum amount of investment is Rs 5,000 and Rs 1,000 for existing investors. The minimum account balance to be maintained is Rs 1000, while the minimum redemption amount is Rs 1000. The fund would not charge any entry load but an exit load of 0.50% would be charged for investment upto Rs.5 lakhs, if redeemed within 180 days and 0.25% for investment above Rs 5 lakhs and upto Rs 10 Lakhs if redeemed within 90 days. The redemption cheques would be despatched normally within 2 business days.