Thursday, July 4, 2013

Switching to Mutual Fund Growth option

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A switch from Dividend to Growth option is a redemption and purchase in the scheme, hence the exit load will be charged at available rates...

 

A switch from Dividend to Growth option is a redemption and purchase in the scheme. To put it more lucidly, both plans, growth and dividend have a different NAV. When you withdraw your investments after a year, they will attract exit load depending on the fund's mandate for the same. Now when you switch to the Growth option, this will be considered a fresh purchase and the exit load will be applicable as available, i.e. if the fund mandates exit load up to a year, it will apply on your investment in the growth option for a year.

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