I was investing in SBI Magnum COMMA fund, but I have stopped the SIPs since March. I have not withdrawn my investments. Will the fund house deduct something from my invested amount?
SBI Magnum COMMA is a commodity fund. This fund has been struggling since past three years with some respite in 2012. You have done a good job by discontinuing your SIP. The fund house will deduct 1 per cent exit load if you redeem within one year from the date of investing. Installments that have been in the fund for more than a year will not be liable for exit load. But once you've decided and your investment is not in a great health, move your money. Even if it amounts to being charged 1 per cent exit load, your investments will become more productive from tomorrow.