I see an exit load while rebalancing ICICI Top 100 Fund. What is this?

The mutual fund company had made a change to exit load terms in March 2015. For investments made between Mar 5 – Apr 5, 2015 an exit load of 1% is applicable if you withdraw within 3 years. So, if you are rebalancing investments made between Mar 5, 2015 – Apr 5, 2015 in this fund, you will incur this exit load.

We suggest that you still go ahead and rebalance because :

The amount of exit load is only on the investments made in this 1 month period and is quite small for most of our investors. We will show you the approximate amount of exit load that will be applicable.
Not doing so will prevent you from moving out of this fund for 3 years – as you cannot selectively withdraw investments made after this period. By moving your money from this fund to the latest portfolio, you ensure that you stay invested in the best portfolio of funds.