Suppose I am investing in mutual fund through SIP.
I am investing Rs. 5000 monthly. Started in Jan 2016 to May 2017.
My total unit is 100 unit
Invested unit in Jan - 2016: 10 unit
Exit load : 1% for 12 month.
Now in Month of June - 2017, i wanted to redeem only 10 unit of mutual fund then exit load will be appicable not?
When i am using Coin dashboard, how it will ensure that i redeem only those unit which crossed Exit load limit?
Just skip the next installment which would be equivalent to what you wish to withdraw.
COIN uses FIFO logic for the redemption of units. So , if you are redeeming 10 units, then it will be considered from the first 100 units.
Most AMCs do not charge an exit load for units kept for over 365 days. So your Jan 2016 units would be free of any exit load in Jan 2017, Feb 2016 units in Feb 2017 so on and so forth.
As far as redemption is concerned, it works on a first in first out basis (FIFO) basis.