How to withdraw from portfolio

POSTED BY Chethan ON September 17, 2011 11:36 pm COMMENTS (6)

Hi, I am 28 years old and currently investing Rs 2500 in SBI Magnum tax gain since December 2007 and Rs 2000 in DSP Equity since February 2011 and in a unit of GoldBeEs since February, was investing Rs 1500 in DSP Tax saver earlier from December 2008 to January 2011 and put in Rs 39000 in Reliance Regular savings balanced fund in May 2011. Also I am investing Rs 25000 per annum in ICICI life stage pension for my retirement. Now I need to withdraw around Rs 1 lakh for my marriage how should I proceed I dont want to touch my pension fund. Here is the snapshot of my current holdings.

SBI MAg. Tax Gain    – Rs 1,19,116.31

DSP Tax Saver         – Rs   44,940.43

Reliance Reg. svg bal – Rs  37,712.75

DSP Equity               – Rs  15,504.41

Gold BeEs                –  Rs  26,402.60

Thanks in advance

Chethan

6 replies on this article “How to withdraw from portfolio”

  1. ashal jauhari says:
    September 19, 2011 at 12:47 am

    Dear Chethan, You can’t exit from Tax saver funds even if you are ready to pay exit load due to mandatory lock-in period.

    You may opt to redeem Gold Bees, DSP Eq.& RSf balanced apart from SBI Tax gain for your marriage related expenses.

    Start shifting money from SBI Tax gain to DSP EQ. for better performance.

    Thanks

    Ashal

    Reply
  2. Manish Chauhan says:
    September 18, 2011 at 8:23 pm

    Chethan

    When you say I need to withdraw 1 lac for my marriage, i am assuming that its an “emergency” , so you need to withdraw it from something no matter what . I would suggest you withdraw from SBI Magnum Taxgain assuming that you can redeem the required amount (no lockin) .

    Manish

    Reply
    1. Chethan says:
      September 18, 2011 at 8:45 pm

      Hi Manish and Abhishek,

      Those are te current values and DSP Tax saver is still in lock in period, where are in the magnum Taxgain units of worth Rs 26,470 have finished the lock in period, I need the amount by December by that time some more SBI units would have finished the lock in period.
      Please suggest what to do now?

      Thanks,
      Chethan

      Reply
      1. Manish Chauhan says:
        September 18, 2011 at 8:49 pm

        Chethan

        I would still sugget that keep redeeming your money from SBI magnum on monthly basis till dec, so that you also fight some volatility . Better change SBI magmun or get out of it as long term prospects of its performce do not look good now .

        Manish

        Reply
        1. Chethan says:
          September 18, 2011 at 9:06 pm

          Hi Manish,
          What are the charges if I withdraw money before the lockin period in SBI Magnum Taxgain?

          Thanks
          Yaswanth

          Reply
  3. Abhishek says:
    September 18, 2011 at 11:05 am

    Hi Chetan,

    Are these the values you can withdraw OR the current value ? How much of the value in tax saving funds have completed 3 yrs lockin ?

    Abhishek

    Reply

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