and now direct mutual fund NAV started w.e.f. 01-01-2013. i read in some local news papers, the AMC (may not all, but some) increased the exit load up to 3% to discourage the investors to switch their existing units to direct NAV MF schemes. however i think , it may be for investments done for less than 1 year in most of equity mf schemes , and that too can not be applied retrospectively , i.e. earlier than the notification date. so for such switch, only applicable expense could be the security transaction tax if already held for more than one year . what is your opinion?