Dear sir, My elder bro invest in reliance equity opportunities fund dividend plan in Feb 2007. We have only hard copy of account statement. And agent was karvy stock broking Please suggest how to redeem all unit. Brother also invest in fidelity equity fund dividend option And Standard charted mutual fund G201 sccef growth Please advise how redeem all We also mail to karvy but no response from their end.pls suggest on this

Ans: Depending upon the date of investment and applicable exit load, you may take the decision.

Ans: I understand you're looking to redeem units across three mutual funds: Reliance Equity Opportunities Fund, Fidelity Equity Fund, and Standard Chartered Mutual Fund G201 SCC EF Growth. Here's how you can proceed:

1. Locate Account Statements:

Physical Statements: Check if there are account statements for all three funds. These statements should have folio numbers or account IDs crucial for redemption.
2. Contact Fund Houses Directly:

Nippon India Mutual Fund (Reliance): Since Reliance Equity Opportunities Fund is now managed by Nippon India Mutual Fund, visit their website (https://mf.nipponindiaim.com/) and look for the redemption section. You can initiate a redemption request online or download the redemption form.

Fidelity Mutual Fund: Search for Fidelity Mutual Fund's website and navigate to their redemption section. Similar to Nippon India, you should be able to redeem online or download a redemption form.

Standard Chartered Mutual Fund: Standard Chartered Mutual Fund merged with IDFC Mutual Fund in 2020. Visit the IDFC Mutual Fund website (https://www.idfclimited.com/our_businesses/idfc_mutual_fund.htm) and look for the redemption options for G201 SCC EF Growth scheme.

3. Contact Karvy as a Last Resort:

If you're unable to locate account statements or have trouble redeeming online, try contacting Karvy again. You can find their contact information on their website (https://cs.karvyonline.com/my-karvyonline1/portfolio/). However, since Karvy transferred its broking business to HDFC Securities in 2020, their responsiveness might be limited.
Additional Tips:

Investor KYC (Know Your Customer): Ensure your brother's KYC details are up-to-date with the fund houses. This might be required for processing the redemption.
Exit Load: Check if there are any exit loads applicable for redeeming the units. These are charges levied by the fund house for exiting the scheme before a specific time period.
Tax Implications: Dividends from mutual funds are taxable. Consider consulting a tax advisor for any tax implications arising from the redemption.
If you encounter any further difficulties, feel free to ask!

If you need personalized advice or assistance in structuring your investment portfolio, feel free to reach out. I'm here to help you optimize your investments and achieve your financial objectives.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in