Fortis MF Announces Change in Features of Sustainable Development Fund
Fortis Mutual Fund had approved the automatic conversion of Fortis Sustainable Development Fund from the close ended equity scheme to open ended scheme on the expiry of 3 years from the allotment date, which was April 23, 2007. Accordingly, the scheme’s units upon conversion into an open-ended scheme shall be available for subscription and redemption on every business day with effective from April 23, 2010.
Meanwhile, the exit Load is 1% is payable if units are redeemed / switched out within 1 year from the date of subscription / switch in. However, there will be no exit load charge if the units are redeemed / switched out after 1 year from the date of subscription / switch-in.
Systematic Investment Plan (SIP): Under SIP the investor can invest a fixed amount at regular intervals for a continuous period of time for purchasing additional units of the scheme at the applicable NAV.
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