AMC has put no redemption flag - HDFC Balanced fund


#1

I have been trying to redeem units from HDFC balanced fund - Direct for more than 2 wks now.
Every order gets cancelled and i get mail saying “AMC has put no redemption flag”.

Are others also facing this issue?
If yes… can you tell me how long will it take to
resolve this issue and when i will be allowed to redeem my units.
Can you guys talk to HDFC AMC and get some info on this ?


#3

That’s because the fund is getting merged. You can create a ticket here for more https://support.zerodha.com/.
https://economictimes.indiatimes.com/mf/mf-news/hdfc-balanced-fund-merges-with-premier-multi-cap-fund-to-form-hybrid-equity-fund/articleshow/63925730.cms


#4

Still HDFC Balanced fund name not changed and showing Jun 1 NAV. When u r planning to change it. Please don’t say the template answer “So Soon”


#5

Sir, have you invested in the fund on Coin?


#6

Yes. But now i am not continue investing using coin. Keeping my holding and waiting. Using different direct provider who support real SIP, STP


#7

@Bhuvanesh @nithin


#8

yea i am facing the same issue… any suggestions what do i do next. I can’t redeem either. Waiting for some instructions about the merger. clueless what to do next!


#9

facing the same issue on zerodha. Please advise what has to be done to overcome the issue


#10

Same here. I get error saying “Redemption not allowed for this fund” in coin. So redemption also not happening, nor NAV is getting updated.


#11

Hi,
Even though monthly statement from Zerodha shows that HDFC balanced fund was replaced by equivalent units of HDFC Hybrid Equity Fund, the same is not reflected in my Coin dashboard. Because of which I am unable to redeem the units of HDFC Hybrid Equity fund nor I am able to see its current NAV and profit %.

Regards,
Sharat


#12

Update: I sent an email regarding the above issue to support@zerodha.com and they corrected my dashboard immediately with updated units of HDFC Hybrid and its NAV and current market value.


#13

I am also trying to redeem but facing the same problem


#14

Can you create a ticket here support.zerodha.com