In the wake of Sebis warning on froth building up in pockets of the broader market, Motilal Oswal has increased the tenure of the holding period for exit load calculation in its smallcap and midcap mutual funds.
The exit load for midcap and smallcap funds is changed to 1% if redeemed on or before one year from the date of allotment. Earlier the tenure for this was on or before 15 days. No exit load if redeemed after one year from the date of allotment. The tenure for the same was 15 days earlier.
The fund house informed about this change to its unitholders through notice-cum-addendum.
The changes are effective from March 18, 2024.