I have invested some amount in ‘UTI Opportunities Regular plan Growth option’ on March 2012 (mode : Direct) which has an exit load of 1% if redeemed before 1 year since investment.
I have switched this to direct plan ‘UTI Opportunities Direct plan Growth option’ on Jan 2013.
For calculating the exit load, how the period of investment be calculated? (if I want to redeem the full amount on April 2013)
does it start from the original date when I bought the ‘Regular plan’
or, the period of 1 year starts again when I swithced to ‘Direct plan’
Note: I am aware of the short term Capital gain taxes applicable for the Switch and future redemption (if done before completing 1 year after switch)
I believe there should be a common process for this and should be the same for all AMCs.
so, please avoid response like ‘Contact UTIMF’.
For friends who read this post for learning, below is a set of FAQs on direct plans (and, my question above is not covered there)
http://www.thehindubusinessline.com/features/investment-world/mutual-funds/faqs-on-direct-plan/article4302092.ece
http://www.thehindubusinessline.com/features/investment-world/mutual-funds/mf-direct-plan-and-nri-investor/article4348303.ece
http://www.thehindubusinessline.com/features/investment-world/mutual-funds/direct-plan-rules-across-fund-houses/article4397294.ece