Exit Load changes can't be applied retrospectively?

Hi,

Can someone please confirm whether what I learned today about the Exit Load applicability is correct? The AMC for a MF can change the Exit Load but according to SEBI the changed Exit Load will only be applicable to prospective investments (& SIPs) & all the previous investments (& SIPs) will continue to be subjected to the exit load structure applicable at the time of the respective investment. Is this true?

Thanks!

Yes, the exit load will be applicable as per whatever it was in the factsheet of the scheme when you purchased the units.

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But the investor will have no way of knowing if this was done, isn’t it? All this will be done behind the scenes & will supposedly be calculated for all users at differing times when the TER changed & then will be included in the “Common FINAL NAV” released at the end of the day which then will be applicable to all users.