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Thursday, July 16, 2015

HDFC Mutual Fund announces changes

HDFC Mutual has announced that vide notice cum addendum dated December 3, 2009 and December 22, 2010 respectively, a facility for purchase / redemption of units of eligible schemes of HDFC Mutual Fund through Stock Exchange(s) infrastructure was introduced. The investors were provided with an option to transact viz. purchase / redemption in the units of mutual fund schemes through AMFI certified stock exchange Brokers, Clearing Members of the registered Stock Exchanges and Depository Participants. 

Presently, the switch of units of mutual fund schemes is available on Stock Exchange infrastructure viz. BSE StAR MF Platform for transactions carried both in demat and physical mode. Therefore, it is now decided that effective Friday, July 17, 2015 (the “effective date”) the investors will be able to switch the units from / to the Eligible Schemes of the Fund through BSE StAR MF Platform. 

The switch transactions can also be carried through other Stock Exchange infrastructure as and when such a facility is made available by the concerned Stock Exchange. It is decided that the switch facility through the Stock Exchange(s) infrastructure will be in accordance with the procedures and guidelines issued by the respective Stock Exchange(s) from time to time. The Trustee reserves the right to change / modify the features of the facility to transact through the Stock Exchange(s) infrastructure on a prospective basis.
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