New Feature: Switch, SWP & STP is live on Invezta.

New transaction mode for investors to transfer amount from one fund to another or redeem amount from a particular fund periodically & receive the amount in bank account.

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Switch-STP-SWP

We have rolled out an important feature on Invezta last week.

We have added functionality of Switch, STP & SWP. These are mode of transacting in mutual funds. To transact in any of the above mode you can click on Menu Bar on your dashboard and select Switch.

Hamburger Menu

Switch

Let me explain you in detail about each of them.

Switch

Switch enables you to transfer money from one fund to another. You have an option to switch between two funds from same Asset Management Company (AMC) & same folio. For eg. If you have invested in Birla Sun Life frontline Equity Direct Growth, you can switch in any of available fund under Birla AMC.

Switch

Systematic Transfer Plan (STP)

This is similar to Switch with benefit of periodic transfers. If you switch from one fund to another it will be a one time transaction. What if you wanted to switch every month or quarter? STP is your answer. STP enables you to transfer money from one fund to another within same AMC in systematic (periodic) manner.

STP

In the above example, investor has setup STP from ‘DSP BlackRock Micro Cap Fund Direct Growth’ to ‘DSP Income Opportunity Fund Direct Growth’ of INR 1000 (Amount) on 25th (Start Date) of every month (Frequency) for next 7 (Installments) months.

 

Systematic Withdrawal Plan (SWP)

This mode can be utilized if you wish to redeem your funds periodically. In Systematic Investment Plan (SIP), you invest in a fund periodically but in SWP you redeem your invested value. You can use SWP mode if you wish to sell your funds in periodic manner.

SWP

In above example, starting 7th September (Start Date) every month (Frequency) INR 1200 (Amount) will be redeemed from DSP BlackRock Liquidity Fund Direct Growth (From Scheme) for next 10 (Installments) months.

Please note that all transfers or withdrawals are subject to RTA processing.

Once you setup STP / SWP, you can Cancel / Stop / Pause them in Systematic Transaction screen under Transaction History screen.

History

I hope you shall find the above useful. While we are working on more features and upgrades, keep sending your love and feedback to us at support@invezta.com

6 COMMENTS

  1. Hi Sharad – Thanks for this. Do you have any plan to create a SWP monitor functionality. As an example I am in the process of creating a corpus of 1 Crore. After 1 year i would like to withdraw Rs 80,000 for my cah flow requirement every month. In that process i would like to know how my SWP portfolio is doing after the continuous withdrawals.

    Thanks
    Bijay Mishra

    • Dear Bijay,

      If I getting it correctly, you would like to know how your overall portfolio is performing after setting up SWP of 80,000. You can track this by tagging your investments to particular goal.

      All your cash in flow & outflow will be tracked and your IRR for that goal is displayed. Hope that helps 🙂

      Regards,
      Pranav

  2. Do you design portfolios as per individual requirement and actively manage it. I am new to this site and interested. I require post retirement planning and investment and active management. What is the mechanism ? Can there be a 2 nd holder and nominee.

    • Dear Kalyan,

      Thanks for selecting Invezta for your investments. Yes advisory is for individuals according to your goal tenure and risk profile. Its managed actively and you shall receive an alert whenever there is action required in your portfolio.

      Yes you can have a joint holder as well as Nominee. Hope that helps 🙂

      Regards,
      Pranav

  3. Hi Please mention about the charges and impact on switching and SWAP is it applicable for all funds any time or after locking period, please provide more clarity from charges prospective thanks

    • Dear Shwetabh

      Thanks for your valuable suggestion. We will soon show Tax Free & Load Free Units / Amount in the Sell as well as switch screen.

      Regards,
      Pranav

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