Is it Possible? If Yes, How?

[nsb]

Dear Investor Friends,
I need to know if I can transfer my money from any one MF, I have invested to another MF under same MF House. If possible, could you please tell me how can I can transfer Reliance Infrastructure Fund Growth Scheme to any other good Reliance MF, Growth Scheme, which is giving good returns? Your valued help will be highly appreciated. :thumb:
NSB

 

[asterix24]

Hi NSB,

I am not aware of the current status of Reliance Infrastructure Fund scheme, but can suggest you the following.

At the earliest, give an instruction to transfer all units to a liquid fund of reliance (for ex: Reliance MIP). Once this is completed, setup a STP to either Reliance Regular Savings - Equity or Reliance Regular Savings - Balanced. Even Reliance Growth is not bad, but would suggest to choose one among the above.

Happy Investing !!

 

[milind]

Yes, money can be transferred from one fund to another - its called a Switch. Please note that it involves a sell transaction of existing fund followed by a buy transaction into the new fund. Exit load may be charged, and capital gains tax may be due as applicable.

Reliance MIP charges exit load if sold within a year. So it may not be appropriate to use it for SIP purposes. Reliance Short term fund may be more suited.

-- Milind