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FAQ

06. Selling Funds
1) When will the funds in my accounts be enabled for sale?
2) Can I specify the sell order by units as well as amount?
3) What is the cut off time for sell transaction at fundsupermart.com and when will my sell order be transacted?
4) Is there any time period to hold fund?
5) Do I need to pay any sell charge when I sell any of my funds?
6) What happens after I sell and will I receive any notification?
7) When will I know my selling price?
8) How do I receive my money?
9) Under what situation will sell order will be void / rejected?

Q: When will the funds in my accounts be enabled for sale?

A: Once the units have been allocated and the same are reflected in your holdings, a sell transaction for the same can be placed.
 
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Q: Can I specify the sell order by units as well as amount?

A: Yes, you can specify the redemption /sell order by units as well as amount.
 
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Q: What is the cut off time for sell transaction at fundsupermart.com and when will my sell order be transacted?

A: The cut off time for sell transactions for all types of funds is 01.20 pm. Sell transactions confirmed by this time will be executed on the same business day.
Orders submitted after the cut off time will be executed on the next business day. Orders approved and submitted on a non-business day will be transacted on the next business day.
 
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Q: Is there any time period to hold fund?

A: The holding periods for funds are stipulated by the issuing fund houses. Please read the Offer Document/Scheme Information Document of the fund to confirm this.
 
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Q: Do I need to pay any sell charge when I sell any of my funds?

A: There is no charge from fundsupermart.com. If the fund has exit load then you will be charged the exit load as per the scheme feature.
 
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Q: What happens after I sell and will I receive any notification?

A: You will receive an e-mail notification when you confirm the sell transaction, as well as when the transaction is completed.
 
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Q: When will I know my selling price?

A: In respect of valid online redemption transactions submitted up to 01.20 p.m. on a Business Day, the closing NAV of the day immediately preceding the next Business Day will be applicable. In respect of valid online redemption applications submitted after 01.20 p.m. on a Business Day, the closing NAV of the next Business Day will be applicable.
 
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Q: How do I receive my money?

A: The AMC will directly send you the redemption amount either as a direct credit to your bank account or by cheque at your correspondence address, depending upon their payment mechanism. The time for receiving the redemption proceeds will also depend on the AMC's process.
 
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Q: Under what situation will sell order will be void / rejected?

A: Your sell order may be rejected in case the order does not meet the requirements of the Minimum Redemption Units/Amount, or the Minimum Retention Units/Amount
 
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