Mumbai: Birla Sun Life Mutual Fund has decided to convert Birla Sun Life Pure Value Fund into an open ended scheme as the close ended scheme completes three years. The change will be from March 29, 2011.
After conversion into an open ended scheme, the fund will charge one per cent as exit load if units are redeemed within 365 days from the date of allotment. Investors will get the facility to purchase, redeem, switch in and switch out of units at daily NAV based prices on an ongoing basis with effect from April 5, 2011.
Investors, who do not agree with the revision, have an option to redeem or switch their units between February 25, 2011 and March 28, 2011, without paying any exit load. The scheme is managed by Nishit Dholakia. It is benchmarked against BSE 200.
