Mumbai: IDFC Mutual Fund has revised the exit load structure in IDFC Ultra Short Fund with effect from February 7, 2011. The fund house will charge 1 per cent as exit load if units are redeemed within 91 days from the date of allotment. The scheme earlier charged 1 per cent as exit load if units were redeemed within 31 days from the date of allotment.
IDFC MF also decided to withdraw the maximum subscription amount under IDFC Ultra Short Fund with effect from February 7, 2011.
IDFC Ultra Short Term Fund is an open ended Income scheme with the investment objective to offer an investment avenue for short term savings by looking to generate stable returns with a low risk strategy. The scheme will have a portfolio that is invested in good quality debt and money market instruments such that the fund will offer a blend of liquidity with stability of returns.
