Benchmark S&P CNX 500 Fund extends NFO period

Date : Dec-17-2008 Benchmark Mutual Fund has extended the closing date of New Fund Offer (NFO) period of Benchmark S&P CNX 500 Fund till 16 December 2008 in place of 15 December 2008. The new fund offer was opened for subscription on 17 November 2008. Benchmark S&P CNX 500 Fund is an open-ended index scheme aims to generate capital appreciation through equity investments by investing in securities, which are constituents of S&P CNX 500 Index in the same proportion as in the index. For investment less than Rs 2 crore, the scheme charges an exit load of 1.50% if redeemed within 1 year from the date of allotment, 1.00% if redeemed after 1 year but within 2 years from the date of allotment and 0.50% if redeemed after 2 years but within 3 years from the date of allotment. It will not charge any exit if redeemed after 3 years from the date of allotment. For investments of Rs 2 crore and more, the scheme will charge 0.50% of an exit load if redeemed up to 3 months from date of allotment and nil for the redemption made after 3 months from the date of allotment.