Hi, i have mutual fund of 14 Lakh with annualized return of 20%, and this is combination of multiple funds like small, mid, large and flexi. Every month i am investing 5k in each fund total monthly mf investment is 30k. Recently i noted that i have many fund in regular instead of direct. I started this mf sip without any base knowledge so that time i was not aware that what is direct and regular. Now, i have some exposure on this, i want to switch this regular fund to direct, is that possible, if yes, what needs to be done. Few of them are Elss fund so if I switch, then do i need to serve the waiting period and if I switch exit load and other charges applicable which will reduce my over all portfolio growth. Kindly help me handle this. Thank you
Ans: Yes you can switch from regular to direct after talking to your advisor , he can help you with the same
Yes ELSS funds have a lock in period of 3 years from the date of investment
Exit load should not apply after 1 year, so no exit load on your ELSS funds