Mirae Asset MF make changes in its China Advantage Fund
Time - 07/09/2010 : 12:36
Mirae Asset Mutual Fund has announced that the total expenses of the Mirae Asset China Advantage Fund shall be as specified as per the SEBI notification dated July 29, 2010. Accordingly, the total expenses of the scheme shall include management fee not exceeding 0.75% of the daily or weekly average net assets, other expenses relating to administration of the scheme and charges levied by the underlying schemes.
Provided the sum total of management fee and other expenses and weighted average of the total expenses ratio of the underlying schemes shall not exceed 2.50% of the daily or weekly average net assets of the scheme. Accordingly, in case an investor does not wish to continue to hold units in view of the said changes, he / she / it will have the option to exit the said schemes / plan at the prevailing NAV, without any exit load.
All transaction requests received on or after October 1, 2010, will be subject to load and the revised expense structure, as may be prevailing in the respective Scheme / plan mentioned above. The above changes will be effective from October 1, 2010.
