What is the Switch order on FundsGenie?
The Switch feature on FundsGenie enables investors to move/transfer investments from one mutual fund scheme to another. The fund house redeems units from the existing fund and purchases units from the new fund for the same value. This is a one-time switch and is permitted only within the same fund house.
For example, Mr Ashish has 1000 units of HDFC's Short Term Debt Fund. He wants to switch a part of his investment to an equity fund. Since his existing holdings are with HDFC Mutual Fund, he can only switch to another HDFC scheme. By placing a switch order, HDFC will sell a specified number of units of the debt fund, and purchase units of the selected equity fund for the same amount.
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