Fortis MF Announces Change In Features Of Sustainable Development Fund (10-Mar-2010)
Fortis Mutual Fund had approved the automatic conversion of Fortis Sustainable Development Fund from the close ended equity scheme to open ended scheme on the expiry of 3 years from the allotment date, which was April 23, 2007. Accordingly, the scheme's units upon conversion into an open-ended scheme shall be available for subscription and redemption on every business day with effective from April 23, 2010.
Meanwhile, the exit Load is 1% is payable if units are redeemed / switched out within 1 year from the date of subscription / switch in. However, there will be no exit load charge if the units are redeemed / switched out after 1 year from the date of subscription / switch-in.
Systematic Investment Plan (SIP): Under SIP the investor can invest a fixed amount at regular intervals for a continuous period of time for purchasing additional units of the scheme at the applicable NAV.
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