Prudential ICICI Mutual Fund has effected a change in the exit load structure under its Pru ICICI Long Term Floating Rate Fund. Under Option-A of the plan, an exit load of 0.50 per cent is now applicable only for redemptions of less than Rs 1 crore and within six months of the allotment of the units. Under the new structure, redemptions worth more than Rs 1 crore or any redemption made after six months would be free from any exit load. Earlier, exit load of 0.50 per cent was charged on all redemptions made within 180 days of allotment.
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