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Switch Transaction offered by Mutual Funds
A Switch Transaction is one that allows you to switch or transfer money from one scheme to another scheme of the same Asset Management Company.
Yes. You will be able to switch money between schemes as long as they are of the same mutual fund house.
For example, you can switch your investment already made in, say Reliance Money Manager Fund to Reliance Growth Fund.
However, you cannot switch your invest from a scheme of Reliance Mutual Fund to, say, any scheme of Aditya Birla Sunlife Mutual Fund.
If you have already made an investment in one scheme but do not want to switch out to another scheme of that AMC, you will have to redeem your investment and then, once the funds come to your bank account, you will have to make a fresh purchase transaction so as to invest in the other mutual fund scheme.
- Systematic Investment Plan and Compounding effect
- Systematic Transfer Plan (STP)
- Systematic Withdrawal Plan (SWP)
- SIP vs Lumpsum Investments
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