StanChart imposes exit fee on 4 funds

StanChart imposes exit fee on 4 funds

Mumbai: Standard Chartered Asset Management Co Pvt Ltd said on Thursday it will levy an exit fee of one percent on redemption within one year from three of its equity funds.

While investors in Standard Chartered Classic Equity Fund and Standard Chartered Imperial Equity Fund investing less than Rs50 million would have to pay the load, all investors in Standard Chartered Premier Equity Fund would be charged exit fee.

The fund house also imposed an exit fee of 0.5% on redemption within six month of any purchase of up to Rs1 million in Grindlays Dynamic Bond Fund-Plan A.

The changes would come into effect from October 1.

The fund house managed assets worth about Rs155 billion at the end of August, data from Association of Mutual Funds in India showed.