What address should be mentioned for investing in Mutual Funds? Can an NRI mention a local address for all communication?
Yes, an NRI can mention a local address for all communication. However, necessary documents for local and overseas address proof still need to be submitted.
How does an NRI investor redeem his/her funds?
The Investor can redeem online by submitting a redemption request from CAGRfunds platform. Redemption will be processed based on the date and time of receipt of the request. If received before 2 PM on any stock market working day redemption will be based on the NAV of that day. Any applications received after 2 PM will be redeemed, based on the NAV of the next business day.
How will the redemption proceeds be paid?
Redemption proceeds will be paid by cheque/direct credit. The redemption proceeds will be credited directly to the investor’s bank account. Alternatively, if the bank details are not properly updated a cheque will be payable to the first unitholder and will include the bank account number. Redemption proceeds/repurchase price and/or dividend or income earned (if any) will be payable in Indian Rupees only.
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