IDFC

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Mumbai; September 6, 2017

IDFC AMC introduces 'Insta-Redemption Facility' for investors

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Mumbai, Wednesday, September 6, 2017: IDFC AMC, one of India’s largest mutual fund houses, is introducing a unique ‘insta-redemption’ facility under the IDFC Cash Fund. IDFC AMC is amongst the first few fund houses offering this facility, post the guidelines issued by SEBI.

Upon receiving an insta-redemption request, IDFC AMC will endeavour to instantly send the redemption proceeds to the investor’s registered bank account. The fund house provides the option of seamlessly updating the bank IFSC code for smooth completion of the insta-redemption process. A few clicks enable money transfer from the cash fund to the savings account, which can then be easily withdrawn. The transfers will be done using the Immediate Payment Service (IMPS) provided by various banks and the entire process should take a few minutes. The facility will be available on all days and at all points of time through the online transaction mode.

Vishal Kapoor, CEO, IDFC AMC said: "IDFC AMC would like to make investing simpler and more convenient. With the insta-redemption facility, investors will have access to their cash fund instantly. Therefore, it provides the best of both worlds – potentially better returns than provided by a savings account, while having the same flexibility and ease of access to funds. This is even more pertinent in the current scenario, where many banks have been reducing their savings account interest rates."

Insta-redemption is being offered under the IDFC Cash Fund – Growth option for both direct and regular plans. In case an investor has multiple folios, he can redeem a maximum of Rs. 50,000 or 90% of clear balance on a calendar day, from any combination of multiple folios under his PAN.

About IDFC AMC:

IDFC Asset Management Company Ltd. was established in 2000 and is one of the largest Mutual Fund  houses in India (in terms of AUM). It has developed a robust network to deliver consistent value to its investors across India.

IDFC Asset Management Company Ltd. is sponsored by IDFC Ltd. The AMC manages a range of funds across debt and equity asset classes and has a distribution reach that covers 39 cities directly and has an indirect presence in over 283 towns across India. With a strong research capability and a performance track record, IDFC MF has received a number of awards and recognitions for its schemes’ performance from different research and rating agencies.

The performance record of IDFC AMC is a direct result of its commitment to a disciplined and time-tested investment approach, proprietary to the AMC.

 For more information log on to www.idfcmf.com

For media queries, contact:
Piyali Reddy
Senior Vice President
Corporate Communications
Email: piyali.reddy@idfc.com


Dibyajyoti Chatterjee
Adfactors PR
Email: dibyajyoti.chatterjee@adfactorspr.com
Ph. No: +91 9769702670



 
 

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