What is the no load concept for direct applications in mutual fund schemes ?
Direct applications shall not have to pay any entry load. These are the applications received by the AMC i.e. application received through internet, submitted to AMC or Collection Centre/ Investor Service Centre but not routed through any distributor/ agent/ broker. Where direct application is made, investors shall mark the field for distributor/agent/broker code as Direct. If broker code is already printed on application form, direct investors should strike off the code, mention Direct and countersign. Investors shall ensure that the field for broker code should not be left blank. It shall also be applicable in case of switch-in to the Scheme from other Schemes if such a transaction is done directly by the investor.
