Sundaram Mutual has announced the launch of the instant redemption facility in its open-ended liquid scheme, Sundaram Money Fund. This will enable investors to redeem up to Rs 50,000 per day instantly. This facility is available 24*7, 365 days a year.
This facility is available for transactions made through the Sundaram Mutual website. Redemptions happen through IMPS mode and will get credited in the investor’s registered bank account within a few minutes of placing a valid request.
This instant redemption facility is currently available only for resident individuals in the Growth Plan (Regular and Direct) of Sundaram Money Fund. Investors can redeem up to Rs 50,000 or 90% of their portfolio value of their investment value per day, across folios under their PAN. Sundaram Money Fund has no lock-in and no minimum balance requirements for users to avail of this facility.
Sundaram Money Fund is managed by Dwijendra Srivastava – Chief Investment Officer, Fixed Income and Siddharth Chaudhary – Senior Fund Manager, Fixed Income. The performance of the scheme is benchmarked against CRISIL Liquid Fund TRI.
