I have been investing in Magnum Taxgain since July 2008 through SIPs. The three-year period gets over in June this year; will it be possible to redeem all units in my portfolio after 3 years?
- Dilip K
When you invest in tax planning funds through SIP; each and every SIP investment is treated as a new investment, which means eachinstalment has to complete the compulsory three-year lock-in. In June 2011, the three-year lock-in for the first SIP gets over, which you can redeem, however for the last SIP investment that you make in June 2011, the lock-in ends in June 2014 only. While you can redeem units each month corresponding to the SIP investment you made from July 2011; you will have to wait for June 2014 to redeem all units at one go.
This article was originally published on June 24, 2011.
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