Mumbai: Religare Mutual Fund has increased the face value of its three schemes – Religare Liquid Fund, Religare Ultra Short Term Fund and Religare Overnight Fund -- to Rs 1,000 per unit from Rs 10 per unit.
The AMC has also changed the minimum amount/units for redemption/repurchase/switch -out under the schemes to Rs 1,000 or 1 unit or account balance, whichever is lower. Earlier, the minimum amount was Rs 1000 or 100 units or account balance, whichever is lower.
These changes will be effective from February 25, 2011.
