MF changes minimum investment amount under systematic transfer plan facility
Mumbai: IDBI Mutual Fund has announced changes in the minimum
investment amount / installments under systematic transfer plan for monthly
frequency in liquid, debt and income schemes with effect from August 22, 2011.
The minimum amount for single transfer under the Systematic
Transfer Plan (Monthly Frequency) in liquid, debt and income schemes is being
reduced from Rs.2000 to Rs. 1000. The minimum number of installments will also
increase from 6 installments to 12 installments.
IDBI also said that in case of all debt schemes, the dividend
amount of up to Rs. 1,000 declared in any sub-option (weekly, monthly,
quarterly of semi-annual) will be compulsorily reinvested and investor will not
get payout option.