ENTRY LOAD FOR SIP started before 1 Aug 2009

POSTED BY Suhas Zore ON October 27, 2010 4:24 pm COMMENTS (2)

I received RELIANCE MF statement.

This was for my Monthly SIP investments for period  Dec-2006 to Dec 2009

Statement shows ENTRY LOAD for units bought after Aug 2009 .

At bottom it clearly says No ENTRY load After AUG 2009.

When I called customer centre they told as SIP was registered before AUG 2009 ( on DEC 2006),hence it carried ENTRY Load as per then applicable rules.

My query is it right to apply ENTRY Load as Each purchase is a new transaction?

If no is there a esclation forum where this can be taken for everybody’s good  ..AMFI /SEBI

 Iam sure …Reliance customer cell won’t help me

NOTE :- I remember when I called Franklin templton  for redemption I was told ONLY units bought less than One Year ago will be charged EXIT LOAD & not all units.

Amount is not big ,but being JAGRUT investor I feel this is not right for AMC to take us for ride .

GUYS advice & guide

 

2 replies on this article “ENTRY LOAD FOR SIP started before 1 Aug 2009”

  1. Suhas

    yes , AMC is right , if you have started an SIP which is started before entry load was removed and if the SIP is ongoing , you will be charged the entry load, the best thing would be to stop the SIP and restart a new one

    Manish

  2. bharat shah says:

    i think, somebody replied such query in this forum. the amc is right.

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