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HDFC MUTUAL has reduced the minimum initial investment amount to Rs 10,000 from Rs 1 lakh, in the following funds: HDFC Floating Rate Income Short-term Plan (daily dividend), HDFC Cash Management Treasury Advantage (daily dividend), HDFC Cash Management Call Plan (growth and dividend) and HDFC Cash Management Savings Plan (dividend). Minimum additional purchase in the above schemes has also been reduced to Rs 5,000. Similarly the minimum redemption for the above schemes has been reduced from Rs 50,000 to Rs 5,000. This is effective January 12.
ICICI PRUDENTIAL MUTUAL FUND has announced a revised exit load structure under ICICI Prudential Gold Savings Fund. Accordingly, an exit load of 2 per cent of the applicable NAV will be charged if units are redeemed or switched out on or before 15 months from the date of allotment. The revised exit load structure will be effective from January 5.
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