SBI Mutual Fund has revised the load structure for its existing schemes with effect from January 15, 2004.
For Magnum Equity, Magnum Global, Magnum Multiplier Plus'93, Magnum Balanced, Magnum Sector Fund (IT, Pharma, FMCG and Contra) presently there is an entry load of 1.75 per cent. Now from January 15, 2004 the AMC would charge an entry load of 1.75 per cent for investment upto Rs. 25 lakhs only.
For Mangnum Monthly Income Plan, presently there is no entry load but an exit load of 0.50 per cent if redeemed within six months. Under the changed load structure, the fund would charge an exit load of 0.50 per cent for investment upto Rs.10 Lakhs, if redeemed within six months.