Is it possible to start a Systematic Transfer Plan (STP) from one AMC's fund to another AMC's fund?
- Rohit
No, you cannot start a Systematic Transfer Plan (STP) from one Asset Management Company to another. A Systematic Transfer Plan (STP) helps investors to transfer money from one scheme to another in the same fund house at periodic intervals. STPs are typically set up by individuals with a lumpsum amount to invest. They invest in a liquid fund and transfer the money periodically to an equity fund. STPs can be daily, weekly, fortnightly or monthly intervals.
This article was originally published on December 17, 2015.