Exit load - Parity among all classes of unit holders

SEBI vide its Circular SEBI / IMD / CIR No. 6 /172445/ 2009 dated August 7, 2009 has decided that no distinction among unit holders should be made by Mutual Funds based on the amount of subscription while charging exit loads. 

SEBI has observed that the mutual funds are making distinction between the unit holders by charging differential exit loads based on the amount of subscription.

A copy of the Circular is available here.