Birla Sun Life Long Term Advantage Fund to turn open end from October 11, 2011
Mumbai: Birla Sun Life Mutual Fund has decided to convert its close ended Birla Sun Life Long Term Advantage Fund into an open ended scheme as it completes 5 years. The change will be effective from October 11, 2011.
After the conversion, the fund will charge 1 per cent as exit load if units are redeemed within 365 days from the date of allotment. Exit load is not applicable if units are redeemed after 365 days with effect from October 18, 2011 due to the book closure period of 7 days from the maturity date.
All other features of the scheme shall remain unchanged. Investors, who do not agree with the revision, have an option to redeem or switch their units between September 9, 2011 and October 10, 2011, without paying any exit load.
