DSP BlackRock MF to levy transaction charges on Investments

Mutual Funds | admin | October 27, 2011 at 11:27 am

DSP BlackRock Mutual Fund with effect from 1 November, 2011 will levy transaction charges on purchase / subscription received from mutual fund investors through distributor / agent. The charges are as under:

Existing investors will be charged Rs.100/- per subscription of Rs. 10000/- and above

For first time investors, Rs. 150/- wil be charged for subscription of Rs.10,000/- and above

No transaction charges will be levied in respect of
(i) direct investments;
(ii) subscription below Rs.10,000/- and
(iii) switch including Systematic Trasfer Plan and redemption including Systematic Withdrawal Plan transactions.

The transaction charge shall be deducted from the subscription amount and paid to the distributor; and the balance shall be invested in the Scheme. The transaction charges and the net investment amount and the number of units allotted will be clearly mentioned the Account Statement issued by the Mutual Fund.

Source: moneycontrol.com

Was this article useful? Subscribe to our newsletter to get daily updates in your email for free.