When
and how can I redeem my investments?
In an open ended fund investments can be redeemed
any time but in the close ended fund investments
can be redeemed only after the expiry of the
lock-in period, either by submitting a physical
request to any of the Karvy/CAMS SERVICE CENTERS/
concerned AMC or requesting the same through the
on-line services available under Investors section
at the CAMS website.
Within
how much time I will receive my redemption
request?
A mutual fund is required to dispatch to the unit
holders the dividend warrants within 30 days of
the declaration of the dividend and the redemption
or repurchase proceeds within 10 working days from
the date of redemption or repurchase request made
by the unit holder.
In case of failures to dispatch the
redemption/repurchase proceeds within the
stipulated time period, Asset Management Company
is liable to pay interest as specified by SEBI
from time to time (15% at present).
What
is the Repurchase or Back End Load?
It is the charge collected by the scheme when it
buys back the units from the unit holders.
What
is Systematic Withdrawal Plan (SWP)?
The unit holder may set up a Systematic Withdrawal
Plan on a monthly, quarterly or semi-annual or
annual basis to redeem a fixed number of units.
They have to pay capital gain tax, which may be
short term or long term. Any Unit holder can avail
of this facility subject to the terms and
conditions contained in the application form /
Offer Document, it may also include exit loads if
applicable.
I
have not received my redemption proceeds? What
should I do?
You can write / email to any of the Karvy/CAMS
SERVICE CENTREs or to the AMC concerned addressing
the same for further course of action.
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