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Edelweiss Mutual Fund has introduced reinvestment facility in dividend payout option under all its open-ended schemes, with immediate effect, the fund house said in a notice on its website.
However, the same would not be applicable under Edelweiss ELSS Fund and Edelweiss Tax Advantage Fund, the notice said.
The fund house notified that if the dividend payout amount is less than or equal to Rs 250, the money will be automatically reinvested in the scheme, subject to unavailability of dividend payout option in electronic mode.
In case the dividend payout option is available in electronic mode, the money will be paid to the unit holders, and if electronic payment is unsuccessful, the asset management company will provide 'dividend warrant' for such amount, the notice added.
All other features of the schemes remain unchanged.
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