As required by SEBI, Tata Young Citizen Fund has introduced an additional option of 'anytime exit' whereby the investor has the option not to let the investment be locked in until the investee child attains 18 years of age. At present the money remains locked in till the child attains 18 years of age.
Investors (if different from the investee child's Parent/Guardian) who opt for 'anytime exit' should identify the parent/guardian of the child at the time of exercising this option, by getting their signature in the option form.
The exit when opted by the child's parent/guardian would be at the relevant NAV plus exit load (as applicable at the time of making the investment). The redemption proceeds will be sent to the parent/guardian on behalf of the investee child since the child would be a minor.