IDFC MF has introduced instant redemption facility in its liquid fund called IDFC Cash Fund.
The fund house claims that they are among the first few fund houses offering this facility, post the guidelines issued by SEBI.
In a press release, the fund houses said that they would instantly send the redemption proceeds to the investor’s registered bank account under this facility. The fund house provides the option of seamlessly updating the bank IFSC code for smooth completion of the instant redemption process. The facility will be available on all days and at all points of time through the online transaction mode, said the fund house.
Vishal Kapoor, CEO, IDFC AMC said, “IDFC AMC would like to make investing simpler and more convenient. With our ‘insta-redemption facility’, investors will have access to their cash fund instantly. Therefore, it provides the best of both worlds – potentially better returns than provided by a savings account, while having the same flexibility and ease of access to funds. This is even more pertinent in the current scenario, where many banks have been reducing their savings account interest rates.”
The fund house is offering Insta-redemption under the IDFC Cash Fund – Growth option for both direct and regular plans.
