HDFC Mutual Fund has converts HDFC Infrastructure Fund into open ended scheme
Mumbai: HDFC Mutual Fund has decided to convert HDFC Infrastructure Fund into an open ended scheme as the closed end scheme completes three years. The change will be from March 10, 2011.
After conversion into an open ended scheme, the fund will charge one per cent as exit load if units are redeemed within 1 year from the date of allotment. Investors will get the additional facilities such as Systematic Investment Plan (SIP), Systematic Transfer Plan (STP) and Dividend Transfer Plan.
The scheme is jointly managed by Prashant Jain and Srinivas Rao Ravuri. It is benchmarked against S&P CNX 500.
