Nippon Life India Asset Management has decided to revise the minimum application amount and minimum additional application amount for Nippon India Retirement Fund – Wealth Creation Scheme and Nippon India Retirement Fund – Income Generation Scheme with effect from May 16, 2022.
The current minimum application amount for both the schemes is 5,000 and in multiples of 500 thereafter. It will be amended to in multiples of 500 and 500 thereafter, from May 16, 2022.
Similarly, the current minimum additional application amount for both the schemes is 1,000 (plus in multiples of Rs.500). Now it will be revised to Rs. 500 and in multiples of Rs. 500 after that.
Note that the requirement of minimum application/redemption amount will not be applicable for the designated employees of the Asset Management Company.
This information regarding the minimum application amount was made public on May 10, 2022 in the form of a notice cum addendum.
The addendum further stated that the fund house reserves the right to change the minimum application amount, minimum additional investment, minimum switch amount and switchover facility of the above schemes in future.
“This Appendix is an integral part of the Scheme Information Document (SID) and the Key Information Memorandum (KIM) of the Scheme and all other terms and conditions of the above document read with the Appendix issued from time to time shall remain unchanged,” the notice added.