Type of Scheme : Large and Midcap Fund - An open ended equity scheme investing in both large cap and mid cap stocks
Benchmark : NIFTY Large Midcap 250 TRI
Methodology and illustration of sale and repurchase price of units:
a) Methodology of calculating sale price
The price or NAV, an investor is charged while investing in an open-ended scheme is called sale or subscription price. Pursuant to SEBI Circular dated June 30, 2009, no entry load will be charged by the scheme to the investors. Therefore, Sale or Subscription price = Applicable NAV (for respective plan and option of the scheme)
Example: An investor invests Rs.10,000/- and the current NAV is Rs. 10/- then the purchase price will be Rs.10/- and the investor receives 10,000/10 = 1000 units.
b) Methodology of calculating repurchase price of Units
Repurchase or redemption price is the price or NAV at which an open-ended scheme purchases or redeems its units from the investors.It may include exit load, if applicable. The exit load, if any, shall be charged as a percentage of Net Assets Value (NAV) i.e. applicable load as a percentage of NAV will be deducted from the “Applicable NAV” to calculate the repurchase price. Therefore, Repurchase or Redemption Price = Applicable NAV*(1- Exit Load, if any)
Example: If the Applicable NAV is Rs. 10 and a 2% Exit Load is charged, the Redemption Price per Unit will be calculated as follows: =Rs. 10 * (1-0.02) = Rs. 10 * (0.98) = Rs. 9.80.