ING MF: Change in STP facility and exit load

Mutual Funds

oi-Monika Nihalani

By Monika Nihalani

Published: Thursday, June 30, 2011, 17:14 [IST]

ING Mutual Fund has announced that with effect from July 1, 2011, Systematic Transfer Plan (STP) facility from a Multi Manager Scheme to a Single Manager Scheme offered by ING Mutual Fund and vice-verse would be allowed.

However, this STP facility would not be available for below three schemes:

ING Optimix Global Commodities Fund, ING Global Real Estate Fund and ING Latin America Equity Fund.

Changes under ING Optimix Financial Planning Fund
Effective July 1, 2011, the monthly STP facility from/to would be available under ING Optimix Financial Planning Fund – Cautious Plan, Conservative Plan, Prudent Plan and Aggressive Plan as per the following terms:
1) The minimum amount of STP per transfer will be Rs 1000 and in multiple of Rs 100
2) The transfer will be by the way of minimum of 6 monthly switches

(Also read, what is STP)

Change in Exit Load under Prudent and Aggressive Plans of ING Optimix Financial Planning Fund
ING Mutual Fund has announced a revision in exit load under Prudent and Aggressive Plans of ING Optimix Financial Planning Fund, with effect from July 1, 2011.

The revised exit load will be 1 percent if redeemed within 2 years from the date of allotment and Nil if redeemed after 2 years from the date of allotment.

Earlier exit load used to be 3 percent if redeemed within 1 year from the date of allotment, 2 percent if redeemed within 2 years from the date of allotment, 1 percent if redeemed within 3 years from the date of allotment and Nil if redeemed after 3 years from the date of allotment.

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