The Hindu Business Line : Fund update

HDFC Mutual Fund has changed the load structure for investments made through the systematic investment plan (SIP) and systematic transfer plan (STP) effective June 1, 2006. HDFC Growth, HDFC Top 200, HDFC Capital Builder, HDFC Prudence, HDFC Balanced, HDFC Core & Satellite, HDFC Premier Multi-Cap, HDFC Long Term Advantage and HDFC TaxSaver will now have an entry load of 2.25 per cent for each SIP instalment as against 1 per cent earlier.

HDFC Prudence and HDFC Core & Satellite will have an exit load of 1 per cent if redeemed or switched out before one year from the date of allotment. The rest of the schemes above will no longer have an exit load.

HDFC Children's Gift Fund-Investment Plan will have an entry load of 2.25 per cent for every SIP instalment. The entry load will be 1.25 per cent under the Savings Plan of the same fund. The exit load for the above two schemes remains unchanged.

Prudential ICICI Mutual Fund has also revised its load structure under its equity and balanced schemes with effect from June 1, 2006. PruICICI Balanced, PruICICI Discovery, PruICICI Dynamic, PruICICI Emerging S.T.A.R, PruICICI FMCG, PruICICI Growth, PruICICI Infrastructure, PruICICI Power and PruICICI Service Industries will now have an entry load of 2.25 per cent and nil exit load.

PruICICI Child Care Gift and Study schemes will have an entry load of 1.5 per cent. Exit load of 1 per cent will be charged if redeemed within three years. PRUICICI Index will not have an entry load but carry a 0.5-per cent exit load redeemed within a year.

Tata Mutual Fund plans to launch an 18-month close-ended equity fund focussed on `rural india'. The fund may consider themes such as agriculture, infrastructure and consumption. The scheme, named as Tata Rural India Fund, will be automatically converted into an open-ended fund on completion of 18 months.

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