HDFC MF: Exit Load to be charged for STP into Income Schemes and Arbitrage Fund
Feb 17, 2009
HDFC MF has notified that with effect from February 20, 2009, for all investments through Systematic Transfer Plan (STP) into the Income Schemes of HDFC MF and HDFC Arbitrage Fund (the 'Transferee Scheme') from any schemes of the fund house that allow STP (the 'Transferor Scheme') will be subject to exit load as applicable under the Transferor Scheme.
The transfers (to Transferee Scheme) will not be subject to any entry load, however, the exit load under the Transferee Scheme shall be applicable. Further, if such transfers are redeemed within 2 years, then the entry load in the Transferee Scheme that had originally been waived off will be levied.