No Entry Load - New Year Bonanza
Tuesday, January 01, 2008The SEBI has finally tackled the cartel of AMCs which included ICICI, Reliance, HDFC, HSBC and other Mutual Fund houses which came together in June-06 and started charging entry loads of 2.25% on open ended mutual fund investment schemes. Our Analyst had written to SEBI, Finance Ministry and AMFI complaining the same. [PDF] We are releasing the Copy of the Letter.
SEBI has now directed Mutual Fund houses that starting from Jan-4th all Direct investments [internet submitted to the AMC, collection centre or investor service centre] in Mutual Funds will have no entry load.
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