Principal Mutual Fund has announced the introduction of a Dividend Option under Principal Index Fund, with effect from March 8, 2004. As on the date of introduction of the Dividend Option, the allotment of units shall be at the NAV based price as on March 8, 2004 of the existing Growth option under Principal Index Fund. The dividend option will be available under three sub-options - Payout, Reinvestment and Sweep.
The load structure of the scheme has also been revised with effect from March 5, 2004. Currently the fund charges an entry load of 1 per cent for investments less than Rs 10 lakhs and no load for investments of Rs 10 lakhs and above. Under the revised load, the scheme would charge 1 per cent entry load for all investments irrespective of the amount invested.