After the client has made investments on the AssetPlus platform, partners will have the option to initiate redemption and switch transactions for them.
Redemption is a process wherein a client sells his/her mutual fund units back to the mutual fund company (AMC). It means they are withdrawing units to obtain returns/ principal from the mutual fund scheme.
A Switch Transaction allows you to switch or transfer units from one scheme to another scheme of the same Asset Management Company.
Initiate Redemption
Step 1 -
On the dashboard, in the quick action section click on Initiate Transaction.
Step 2 -
Search for the client and click on Create Transaction.
Step 3 -
On the create transaction page, click on Redemption.
Step 4 -
On the redemption tab, select the Scheme name, Folio number, and it can be redeemed by All Units or Lock Free Units or Specified Amount.
Switch can be done within the same AMC.
Then click on Redeem.
The client will receive an approval link via SMS/Email (expiry 24 hours)
The client can review, click on approve the transaction and enter the OTP sent to the registered Mobile/Email ID.
After the client has approved the transaction, the order gets placed and it takes 1-3 working days for the amount to get credited to the client's primary/default bank account depending on the type of Mutual fund scheme (Debt/Liquid/Equity). Once the order is Processed it will reflect as completed.
Ensure the client's primary bank account is active with updated bank account details such as IFSC code and account number.
Switch Transaction
Step 1 -
On the dashboard, in the quick action section click on Initiate Transaction.
Step 2 -
Search for the client and click on Create Transaction
Step 3 -
On the create transaction page, click on Switch.
Step 4 -
On the Switch tab, Select the Fund, To Scheme, and it can be switched by All Units or Lock Free Units or Specified Amount.
Then click on Submit.
On the client approval pop-up screen, click on Send.
The client will receive an approval link via SMS/Email (expiry 24 hours)
The client can review, approve the transactions, and enter the OTP sent to the registered Mobile/Email ID
.
Please note
You can initiate multiple transactions and send a single approval link.
After the client approves the transaction, you can check the same under Client Panel -> Orders
To view all pending transactions that you have initiated and their approval status, check Client Panel -> Pending
The approval links will be valid only for 24 hours.