Mumbai: L&T Mutual Fund has decided to convert its close ended L&T Small Cap Fund into an open ended scheme as it completes 3 years. The change will be effective from January 10, 2011.
After the conversion, the fund will charge 1 per cent as exit load if units are redeemed within 1 year from the date of allotment. Exit load is not applicable if units are redeemed after 1 year. The scheme will open for ongoing subscription, redemption and switches of units at NAV based prices on every business day on an ongoing basis from January 10, 2011.
Dinesh Ahuja, Senior Manager – Fixed Income has ceased to be the key personnel of the AMC with effect from December 28, 2010.
