I want to invest in a MF via Coin. That particular MF only has an option of AMC SIP. So could somebody please tell, are there any additional steps that I need to fulfill before investing in it. Like in normal SIPs you can start investing at the click of a button.
In AMC SIP do I need to fill any forms or etc. What are the additional steps?
In case of AMC SIP, where do the SIPs get deducted from Zerodha DEMAT account or bank account?
If in future I’d like to change the SIP amount. What will I have to do in order to have it changed?
I would like to obtain as much information as I can before I start investing. If there is something I did not ask which I should know before investing in the AMC SIP. Please, do share.
Hey Akarsh, you cannot modify the amount for the AMC SIP once created as the AMC restricts from any kind of modification once created and the same is followed by BSE STARMF (which is our backend routing system). You can only delete the SIP 2 days prior to your next installment date.
@Bhuvan. Thanks. Also. Can you tell, do AMCs inform investors before they cut off lumpsum investments for good or do they first cut off lumpsum and then inform investors?
@Bhuvan Doesn’t it make sense to give an option to convert those SIPs into AMC SIPs as well. Asking as some good performing funds have cut off lumpsum in the past and as Coin’s normal SIP is lumpsump even those will stop
I have a AMC SIP in a fund which is ongoing. If I have to modify the amount, that’s not possible in coin. If I delete my exisiting AMC SIP in that fund 10 days prior to SIP date and if I recreate with new amount, what will happen to my existing SIP of the same fund? Will the new SIP with modified amount still go to the same fund or it will be redeemed once I delete and new SIP with modified amount will start ? Please clarify.