I am 80 and deposited my emergency cash in bank and converted the contingency funds parked in liquid funds into debt funds. Is there any regulators for such activity? I notice that you have issued HDFC Balanced Fund on 18/11/16 at an NAV of Rs 29.83 while the NAV quoted for the same scheme in my already existing portfolio is only Rs 27.70 thus charging a transaction fee of 7.68% of capital value.
-P J Thomas
The HDFC Balanced fund is not a debt fund, it is a hybrid fund which includes both equity and debt component. These funds invests 65-70% in equity and the remaining amount is invested in debt securities. The lower NAV is not due to transaction cost, but because you have seen two different NAVs of the same fund on same day, one of the regular plan (which is 27.70) and the other of the direct plan (which is 29.83). Usually, direct plan of a fund have higher NAV than the regular plan of the same fund.
HDFC Balanced Fund is not suitable for your emergency funds. Equity-oriented funds such as this one are meant for a holding period of 5 years or more. Therefore, you should consider exiting it and investing in a liquid debt fund which is more suitable for your emergency needs. Refer to the list of Top Rated Liquid Funds to choose one.
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