I wish to buy Aditya Birla Tax saver fund. When I am adding the same in my portfolio, the dashboard show the MF in my account with (Dividend Payout) written in bracket below it. What does it mean? I want my dividend to be reinvested in my MF (Growth). Can someone explain me how it works?
Any tax saver mutual fund investment you make the dividend will only be on payout mode. This change happened a few years ago when the AMCs understood it will difficult for them to track the lock in period for the dividend invested back. Since your units have 3 years lock in tax saver/ ELSS funds.