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POSTED BY ON November 9, 2010 3:57 pm COMMENTS (3)
I have invested in certain Mfs using the SIP mode but in dividend option. Is there a way to change the option?
What should be my way out
1. Stop SIPs in dividend option and let the invested money continue to grow and take a new SIP in growth option
2. Stop SIPs in dividend option redeem the money and invest in Growth option and start SIP in growth
Hope i have not confused you
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Stop SIPs in dividend option and send a switch request to growth option and then take a new SIP in growth option and then. The new one will be with the same folio number.
After sending the SIP cancellation request you may have to wait for the SIP cancellation confirmation.
PS Now-a-days CAMS and Karvy takes hell of a lot of time to process such requests and missing couriers.
Thanks Manish and Dominic
Its not yet one year since i started these SIPs, so I guess my best option would be to stop SIP in Dividend option and ask for a new SIP in growth option.
Its not possible to change it, there is nothing like converting option like that ,
You can stop the SIP in dividend option incase you have not crossed 1 yr , so that you can save exit loads .
Manish