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Old 5th January 2013, 12:20 PM
Prudent_Investor Prudent_Investor is offline
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The earlier funds had zero entry loads (upfront commissions) but the trailing commissions were deducted similar to existing funds.

As there were no distributors (since it was in DIRECT mode) the fund houses use to pocket the trailing commission amount.

From 1st-Jan 2013, all existing SIPs in direct mode have been switched to new direct funds.

So for ongoing SIPs now I see two funds, the regular one till 31st Dec and new SIPs being channel into the Direct Plan with a higher NAV effective 1st Jan.
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