Mirae Asset Mutual Fund is making changes to the exit load for some of its investment plans. This means they are adjusting how long investors have to wait before they can sell their fund units without paying extra fees. Here’s what you need to know:
Affected Funds: The changes involve five funds: Mirae Asset Balanced Advantage Fund, Mirae Asset Multi Asset Allocation Fund, Mirae Asset Equity Savings Fund, Mirae Asset Midcap Fund, and Mirae Asset Flexi Cap Fund.
Effective Dates: These changes will start on January 1, 2025, for most funds, while changes for the Mirae Asset Gold ETF Fund of Fund will begin on December 24, 2024.
What Changes Are Happening?
1. Mirae Asset Balanced Advantage Fund & Mirae Asset Multi Asset Allocation Fund:
– Old Exit Load Period: 365 days.
– New Exit Load Period: 180 days.
– If you sell your units within 180 days, you’ll pay a 1% fee. If you wait longer, there’s no fee.
2. Mirae Asset Equity Savings Fund:
– Old Exit Load Period: 365 days.
– New Exit Load Period: 90 days.
– If you sell within 90 days, it’s a 1% fee. No fee if you wait longer.
3. Mirae Asset Midcap Fund & Mirae Asset Flexi Cap Fund:
– The rules remain the same: you pay a 1% fee if you sell within 1 year.
4. Mirae Asset Gold ETF Fund of Fund:
– If you sell within 3 months, the fee is 0.50%. After 3 months, it’s no fee.
These changes will kick in for all new investments starting from the effective dates. Also, the launch date for the new Mirae Asset Small Cap Fund has changed: it will now open on January 10 and close on January 24.
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