Mutual Funds.......

Others 1089 views 4 replies

Ratheesh

36 Points Joined August 2008

Hi...Being a first timer in MFs, i have certain doubts regarding additional subscripttion and redemption.

1.) Last month, i have subscribed to 4 MFs via agent (Karvy), and thus 2.25% entry load was applied on the NAV. Now if i need to add on to this portfolio, should i need to pay 2.25% again on every such addl. subscrptions (No AMC branch is in my city)??. This is despite SEBI's notification of ZERO Entry load for MFs.

2.) If i need to redeem an MF at a particular date itself, what should i do? Should i communicate directly to the AMC, or will the Agent do this on that day's NAV itself? If i seek redemption on say, 08.08.2008's NAV, and even if my agent/AMC delays it till say 10.08.2008, will my sale be effected as on 08.08.2008's NAV itself?

Replies (4)

Kanu Agarwal

PCC Student

32 Points Joined July 2008

as far as entry load and exit load is concerned if u directly purchase it from amc then u don't have to pay it but agents charge a certain % for providing the services......................now regarding redeeming ur units the date or precisely the amount prevailing in the market when u redeem ur units will be considered.....................this is provided as far as i am aware i would invite others to plz correct me if i am wrong

Ratheesh

36 Points Joined August 2008

If i redeem directly, what is the process involved? By sending the redemption slip to the AMC branch via post/courier, i may lose a couple of days. Then how will the particular date's NAV be preserved?

Sakyasingh Rath

student

56 Points Joined June 2008

As per the regulations if your redemption request reaches the fund house within 3 p.m.then the NAV of that will be taken for calculation.Otherwise the next day's NAV will be taken.

Otherwise if you have office of Computer Age Management Services nearby your home,then you can redeem your units from there electronically if that service is available.

This is as per my knowledge.Any corrections are most welcome.

Ramalingam K

Founder & Director - Holistic Investment

21077 Points Joined October 2011

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