Can I exit from a fund anytime I want?

There are varied types of funds in Mutual Fund and conditions for exit varies accordingly.  Open-Ended funds mostly permits exit any time with some applicable exit loads if redeemed within a specified period from the date of allotment (mostly 1 year for equity funds). Please check ‘load structure’ for info on exit loads of individual funds. ELSS funds are  open-end funds that have a locking period of 3 years as they provide additional Tax saving benefits. In a closed-end fund, you cannot redeem your units till the maturity of the fund.

Can minors invest in Mutual Funds?

For minors mutual fund investments can be made only through a custodial account opened in a minor’s name and overseen by a guardian. The guardian holds decision-making power of the account until the child reaches legal age (18 years).

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