How to switch or Process for switching in Mutual Fund?

How to switch or Process for switching in Mutual Fund?

FAQ to Switch in Mutual Funds.

Q.1. When Can I Switch in Mutual Funds?

Answer: Yes, you can Switch in Mutual Funds anytime.

Q. 2 Can I switch between mutual fund schemes/ investment options/plans?

Answer: – Yes, all investors can switch between mutual fund schemes/investment options/plans. You need to fill in a Switch section of transaction slip, which is available below to download. The same can be submit it to Distributor / Broker of mutual funds, or particular Mutual Fund Companies office or the Registrar of that Mutual Fund

Q.3.  Is there any exit load or loads on switching?

Answer: A switch from one scheme to the other is consider /treated as redemption from the scheme from where it is switched out & a purchase into the scheme into which it is being switched. So you will be liable for ‘applicable’ entry load or exit load (if any). As load on switches may change from time to time. Please refer to the Scheme Information Document & Statement of Additional Document for details.

Q.4 Is it possible to Switch Online?

Answer. Yes,1] MF holding in Demat: If you are using demat facility for Investment, then it is available on your Trading & Demat portal, 2] Mf holding in Physical Certificate:  If you have received IPIN from Mutual Fund (AMC), then you can login your particular AMC web portal and you can Switch in Mutual Funds.

Q.5. What is the difference between Dividend Payout and Dividend Re-invest option?

Answe: Dividend plan has 2 sub-options . 1] Dividend Payout and 2] Dividend Re-invest option. Dividend is paid out via cheque/ electronically to an investor who opts for the ‘Dividend Payout’ sub-option. The dividend amount will be invested in the same scheme on the ex-dividend date & nav and the investor will receive additional units, in the ‘Dividend Re-invest’ sub-option.

Q.6 How to I change to the sub-options of Dividend Re-Invest option from the Dividend Payout option or vice-versa?

Answer: – If you wish to change in sub-options to the “Dividend Re-invest” option from the ‘Dividend Payout’ option or vice – versa, you need to fill the switch section of transaction slip, which should be duly signed by the investors requesting such a change. Any request for change in option applies to all units in the mutual fund scheme in the folio.

What is process to Switch in Mutual Funds?

The process is very simple to Switch in mutual funds. Just download Switch Form attached below and submit it to the Distributor / Broker of mutual funds or particular Mutual Fund Company or the Registrar of that Mutual Fund

Steps to follow while filling Switch Transaction Application Form:

1.  Download Switch Form and print it on A4 Page. 

2. Fill up following details:

  • Applicants Name
    • Mutual Fund Company Name:
    • Folio No:
    • Investor Name:
    • From Scheme  /Plan  /Option:
    • To Scheme / Plan / Option
    • Amount / Units to Switch
    • Pan Nos:
    • Sign it.

3. Now submit this Switch Form to Distributor / Broker or Mutual Fund House or Registrar of fund.  

4. To track the status of your Switch Application form, keep copy of Switch Form and the Acknowledgement Slip.

3.  After submitting your request it takes approximately 1-2 working days to Switch in/out your Mutual Funds.

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