Dear Sreekanth,
Hope you are doing good. Thanks for your response on my earlier post.
Now, I have created my CAN # via mfuindia. Currently, I have my MF investment in regular funds. I just want to stop SIP in those funds and NOT want to redeem available units now. At the same time want to start my SIPs in direct funds.
Is it possible to switch from regular fund to direct fund without giving exit load ? Also is it possible just to STOP SIP but not redeem existing units?
Thanks & Regards,
Ash
3 Answers
Dear Ash,
Switching from Regular plan to Direct plan of same scheme, is still considered as normal redemption, so taxes (if any) and Exit loads (if any) are applicable.
Yes, it is possible. You may just pause or cancel current SIPs of Regular plans and invest in Direct plans of same schemes.
Kindly read :
https://www.relakhs.com/mfutility-invest-direct-plans-mutual-fund-schemes-online/
https://www.relakhs.com/direct-mutual-fund-plans-buy-online/
Hi Ash,
Even I was having same doubt related to stopping of SIP and not redeeming the units. So I raised a query through MF Utility portal and got below reply:
Comments : To cancel SIP, Please follow the below steps: 1. Click on Transaction Order book>> Systematic Order book 2. Select from date range and click on Submit. You can now view your SIP Group Order Number 3. Please click on the icon besides Group Order number. It will populate your CAN based SIP transaction details 4. On extreme right hand corner of each SIP details, you will find an icon for SIP cancel. Thereby click on the icon for SIP/s which needs to be cancelled.
I followed the above steps and was able to find the icon to Stop SIP.
Regards,
Manish
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