The introduction page for COIN reads - If you want to switch your current funds or SIPs from distributor to direct, you may exit them and invest afresh."
What does it mean by “exit them” exactly? Say, if I have already invested INR 100 in Fund XYZ through non-direct mode, do I have to sell it completely and redeem all the money and then reinvest? or My new investment in Fund XYZ will be considered as direct ones? Please clarify the same for SIPs as well.
Exiting the existing regular plans is not mandatory. You can continue to hold them. When buying new funds on coin, you will by default be buying under direct plans. Only if you want to convert your existing from normal to direct, you will have to redeem and reinvest.
I got it now. Thanks for clarification.
Adding to the above question, can I “pause” the existing regular investments & start fresh SIPs in direct funds? The money already invested in regular plans will remain as it is but I’ll be starting fresh investments under direct plans