POSTED BY January 2, 2015 11:34 am COMMENTS (14)ON
Hi, I have purchased UTI – Money Market Fund (Instn Weekly Dividend – Direct) on 3rd Dec 2014 before 2PM(Cut off time). Amount is 4 lakhs. The purchase transaction processed on Previous day NAV (2nd Dec 2014) Rs 1015.95 . On same Previous day(2nd Dec 2014), there is a dividend announcement on this scheme.
But dividend is not applicable, since dividend declared on 2nd Dec 2014 before cut off time. If an investor made purchase in liquid fund on Dec 3rd 2014 before cutoff time,NAV applicable date is 2ndDec 2014 but Dividend is not applicable announced on 2nd Dec 2014. I have got the above confirmation from UTI Mutual fund. Is this correct? please let me know
If this not correct, where can i lodge complaint. Let me know
My investment 4 lakhs rupees blindly came down to Rs 3,99,441.58.This is because of dividend announcement. My question is Where is my money Rs 558.42 went?