HDFC Mutual Fund reduces exit load in HDFC Floating Rate Income Fund-
Long Term Plan to 2% from 3%
Mumbai: HDFC Mutual Fund has revised the exit
load structure in HDFC Floating Rate Income Fund- Long Term Plan with effect
from June 24, 2011. The fund house will charge 2 per cent as exit load if units
are redeemed within 12 months from the date of allotment. The scheme earlier
charged 3 per cent as exit load if units were redeemed within 18 months from
the date of allotment.
HDFC
Floating Rate Income Fund- Long Term Plan is an open ended income scheme, with the investment
objective to generate
regular income through investment in a portfolio comprising substantially of
floating rate debt / money market instruments, fixed rate debt / money market
instruments swapped for floating rate returns and fixed rate debt securities
and money market instruments.
