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