Thursday, October 20, 2011 10:53 Hrs IST
DSP BlackRock MF to Deduct Transaction Charge from Subscription Amount for Purchase through Agents
With effect from 1 November 2011
DSP BlackRock Mutual Fund has announced that with effect from 1 November 2011, it shall deduct the transaction charges on purchase / subscription received from first time mutual fund investors and investor other than first time mutual fund investors through the distributor / agent. The charges are as under:
1) First Time Mutual Fund Investor (across Mutual Funds): Transaction charges of Rs 150/- for subscription of Rs 10,000 and above will be deducted from the subscription amount and paid to the distributor / agent of the investor and the balance shall be invested.
2) Investor other than First Time Mutual Fund Investor: Transaction charge of Rs 100/- per subscription of Rs 10,000 and above will be deducted from the subscription amount and paid to the distributor / agent of the investor and the balance shall be invested.
However, transaction charges in case of investments through Systematic Investment Plan (SIP) shall be deducted only if the total commitment (i.e. amount per SIP installment x No. of installments) amounts to Rs 10,000/- or more. The transaction charges shall be deducted in 3 or 4 installments.
3) Transaction charges shall not be deducted / applicable for:
a) purchase / subscriptions for an amount less than Rs 10,000/-
b) transaction other than purchases / subscriptions relating to new inflows such as Switch/Systematic Transfer Plan (STP) / Dividend Transfer Plan (DTP), etc;
c) transactions carried out through the stock exchange platforms.