SWITCH Mutual Funds

Switching of funds means moving the money from an investment scheme to another investment scheme. Investor can switch between two different schemes i.e. money is taken out of fund A (a sell order) and invested in fund B (a purchase order). This way a switch, order results in two transactions a purchase & a sale. Fund A & Fund B in the above example could be from the same fund house or from different fund houses.

Switch Mutual Funds screen allows the user to switch out the funds either at one time, systematic order plan or Purchase + systematic order plan methods.

Pre-Requisites

Transaction access is provided to the Retail User.

Features Supported In Application

The module supports the following features:

Switch Funds - One Time
Switch Funds - STP
Switch Funds - PSTP

You are here How to reach here:

Dashboard > Toggle Menu > Wealth Management > Switch Mutual Funds > Switch Out

Switch Funds - One Time

This option allows the retail investor/ user to place the one time lump sum switch order. The user can specify whether the order is for Now i.e. same business day or for later that is a future date. The user can also select the option to switch by Units/ All Units or Amount and can specify the units or amount to be switch in.

To switch the mutual funds:

Field Description

Field Name	Description
Fund Details
Investment Account	The account number to which the current switch order belongs.
Risk Profile	The risk profile of the selected investment account. For more information on Risk Profile, click Risk Profiling.
Switch Type	The type of switch order that is to be placed. The options are: Onetime - This type of switch order allows the retail investor placing switch order for one time lump sum purchase. STP - A STP (Systematic Transfer Plan) is an investment method that allows the users to invest small amounts periodically or at regular frequency instead of lump sums. PSTP - Purchase + Systematic Transfer Plan
Switch Out Scheme (Source Fund)
Fund House	The Fund house from which user intends to switch the fund for current redemption order.
Scheme Name	Name of the fund/ scheme which user intends to switch the fund for current switch order.
Scheme Suitability	Indicate whether the scheme is suitable for user to invest in. The system displays 'Yes' if its is suitable and 'No', if the scheme is not suitable.
Folio	Folio number of the scheme where user has holdings that he can switch.

From the Investment Account list, select the account number from which the user wants to select the fund.
In the Switch Type field, select the One Time option.
From the Fund House list, select the fund house from which user intends to switch the fund.
From the Scheme Name list, select the fund/ scheme which user wants to switch.
From the Folio Number list, select the folio number of the scheme.
Click Next. The Switch In - One Time - Order Details screen appears.
OR
Click Cancel if you want to cancel the transaction.

Switch Funds - One Time - Order Details

Field Description

Field Name	Description
Switch In Scheme (Destination Fund)
Fund House	The fund house from which user intends to switch the fund for current switch order.
Fund Category	The fund category from which user intends to switch the funds for current switch order.
Scheme Name	Name of the fund/ scheme which user intends to switch the fund for current switch order. Schemes will be based on fund selected house /fund category.
Scheme Suitability	Displays whether the scheme is suitable for user to invest in provided by MF processor. The system displays 'Yes' if its is suitable and 'No', if the scheme is not suitable.
Destination Folio	Folio number of the selected order or "New" is displayed in the case new folio option has been selected.
Dividend	The dividend for the current switch order. The options are: Payout Reinvest The options will appear only if the selected scheme has dividend option.
Transaction
Switch By	Options whether to switch by Units/ All Units/ Amount. The options are: Units - On selecting this option, user has to specify the number of units to be switched in the current switch order All Units - On selecting this option, user can switch all the units in the current switch order Amount - On selecting this option, user has to specify the amount to be switched in the current switch order
Units	The number of units to be switched in the current switch order. This field appears, if you select Units option in the Switch By field.
Min Units	The minimum switch units as set by the fund house for the scheme. This field appears, if you select Units option in the Switch By field.
Amount	The amount to be switched. This field appears, if you select Amount option in the Switch By field.
Min. Amount	The minimum switch amount as set by the fund house for the scheme. This field appears, if you select Amount option in the Switch By field.
When	Select the option by which to specify when the orders are to be submitted for execution. The options are: Now: Current business date Later: Select this option if you wish to select a future date from calendar
Order Date	The future date on which the orders are to be submitted for execution. This field appears if you select Later option in the When field.
Cut Off Period	Cut off time and date for the order as provided by the MF processor.
Switch orders placed Fund(s) Currently selected for switch
No. of Funds Selected	Displays the number of switch orders that have been placed till then ( in the context of multiple switch orders - maximum 3 switch orders can be placed in one go).
Total Order Amount	Sum of all the order amounts.
Folio No	Folio number of the selected order or "New" is displayed in the case new folio option has been selected.
Scheme Name	Name of the scheme selected for current switch order.
Order Amount	Order amount keyed in by user.

From the Fund House list, select the fund house from which user intends to switch the fund.
From the Fund Category list, select the fund house from which user wants to switch the fund.
From the Scheme Name list, select the fund/ scheme which user wants to switch the fund.
From the Destination Folio list, select the appropriate option.
In the Transaction section, select the appropriate switch option, In the Switch By field.
- If you select Units option, enter the number of units to be switched in the Units field.
- If you select Amount option, enter the amount to be switched in the Amount field.
In the When field; select the appropriate date for order execution.
Select the future date from the Purchase Date list, if you select Later option.
Click Save. The Switch orders placed section displaying No. of funds selected for switch, Total Order Amount, Switch In Scheme, Switch Out Scheme and a delete icon to delete the selected fund appears.
Select the I agree to the Terms and Conditions check box to continue to purchase the funds.
Click to view the terms and conditions.
OR
Click the Switch Another Fund link, if you want to switch another fund.
The Switch Fund screen appears.
Click Submit.
OR
Click Cancel to cancel the operation and navigate back to ‘Dashboard’.
OR
Click Back, to navigate to the dashboard.
OR
Click Back to Wealth Overview, to navigate to the Wealth Management dashboard.
The Review screen appears. Verify the details, and click Confirm.
OR
Click Cancel to cancel the transaction.
OR
Click Back to navigate back to previous screen.
OR
Click Back to Wealth Overview, to navigate to the Wealth Management dashboard.
The Verification screen appears if the transaction is configured for Two Factor Authentication. The user has to pass the 2 factor authentication, before he can proceed. 2 factor authentication (OTP/ Security question/ Soft Token) will be as per the setup done by system administrator.
The success message along with the reference number of the order appears.
Click the Purchase Fund link, if you want to purchase the fund.
OR
Click the Switch Another Fund link, if you want to switch another fund.
OR
Click the Redeem Fund link, if you want to redeem another fund.
OR
Click the Wealth Dashboard link to navigate to the Wealth Management Dashboard screen.

Switch Funds - STP ( Systematic Transfer Plan)

This option allows the retail investor/ user to place a systematic transfer plan (STP) for the switch order. In Systematic Transfer Plan, investor places a onetime instruction to switch funds - a specified some of money is switched from source scheme to destination scheme at a set interval. Typically in financial plans money in debt funds is switched into an equity fund regularly to mimic an SIP.

In STP the user needs to specify the source and destination schemes belonging to the same fund house, source and destination folios (can ask for a new folio for destination scheme), start date of switches, no. of installments & frequency, end date of switches to be derived by the system and displayed and Amount/ units to be switched per installment.

To switch the mutual funds:

Field Description

Field Name	Description
Fund Details
Investment Account	The account number to which the current switch order belongs.
Risk Profile	The risk profile of the selected investment account. For more information on Risk Profile, click Risk Profiling.
Switch Type	The type of switch order that is to be placed. The options are: Onetime - This type of switch order allows the retail investor placing switch order for one time lump sum purchase. STP - A STP (Systematic Transfer Plan) is an investment vehicle that allows the users to invest small amounts periodically or at regular frequency instead of lump sums. PSTP - Purchase + Systematic Transfer Plan
Switch Out Scheme (Source Fund)
Fund House	The Fund house from which user intends to switch the fund for current redemption order.
Scheme Name	Name of the fund/ scheme which user intends to switch the fund for current redemption order.
Scheme Suitability	Indicate whether the scheme is suitable for user to invest in. The system displays 'Yes' if its is suitable and 'No', if the scheme is not suitable.
Folio	Folio number of the scheme where user has holdings that he can switch.

From the Investment Account list, select the account number from which the user wants to select the fund.
In the Switch Type field, select the STP option.
From the Fund House list, select the fund house from which user intends to switch the fund.
From the Scheme Name list, select the fund/ scheme which user wants to switch.
From the Folio Number list, select the folio number of the scheme.
Click Next. The Switch In - STP - Order Details screen appears.
OR
Click Cancel if you want to cancel the transaction.
OR
Click Back to Wealth Overview, to navigate to the Wealth Management dashboard.

Switch In- STP - Order Details

Field Description

Field Name	Description
Switch In Scheme (Destination Fund)
Fund House	The fund house from which user intends to switch the fund for current redemption order.
Scheme Name	Name of the fund/ scheme which user intends to switch the fund for current redemption order. Schemes will be based on fund selected house /fund category.
View Current NAV	Link to view the latest NAV/ price per unit of the selected scheme for current switch order.
Scheme Suitability	Displays whether the scheme is suitable for user to invest in provided by MF processor. The system displays 'Yes' if its is suitable and 'No', if the scheme is not suitable.
Folio	Folio number of the selected order or "New" is displayed in the case new folio option has been selected.
Dividend	The dividend for the current switch order. The options are: Payout Reinvest The options will appear only if the selected scheme has dividend option.
Set Instructions
Frequency	List of SWP frequencies specified by fund house. The options are: Daily Weekly Monthly
Switch By	Options whether to switch by Units/ All Units/ Amount. The options are: Units - On selecting this option, user has to specify the number of units to be switched in the current switch order Amount - On selecting this option, user has to specify the amount to be switched in the current switch order
Units	The number of units to be switched in the current switch order. This field appears, if you select Units option in the Switch By field.
Min Units	The Minimum number of installments for the STP specified by fund house. This field appears, if you select Units option in the Switch By field.
Amount	The order amount per installment of the current STP order. This field appears, if you select Amount option in the Switch By field.
Min. Amount	The minimum SWP order amount per installment as set by the fund house for the scheme. This field appears, if you select Amount option in the Switch By field.
Start Date	List of STP date specified by fund house.
Installments	List of STP installments specified by fund house.
Cut Off Period	Cut off time and date for the order as provided by the MF processor.
Switch orders placed Fund(s) Currently selected for switch
No. of Funds Selected	Displays the number of switch orders that have been placed till then ( in the context of multiple switch orders - maximum 3 switch orders can be placed in one go).
Total Order Amount	Sum of all the order amounts.
Folio No	Folio number of the selected order or "New" is displayed in the case new folio option has been selected.
Scheme Name	Name of the scheme selected for current switch order.
Order Amount	Order amount keyed in by user.

From the Scheme Name list, select the fund/ scheme which user wants to switch the fund.
OR
Click the View Current NAV link to view the latest NAV/ price per unit of the selected scheme.
From the Folio list, select the appropriate option.
In the Set Instructions section, select the appropriate frequency from the Frequency list field.
In the Switch By field, select the appropriate switch option.

- If you select Units option, enter the number of units to be switched in the Units field.
- If you select Amount option, enter the amount to be switched in the Amount field.
In the Start Date field, select the appropriate start date for STP.
From the Installments list, select the STP installments.
Repeat steps 9 to 13 of Switch Out Funds - One Time section

Switch Funds – PSTP (Purchase – Systematic Transfer Plan)

This option allows the retail investor/ user to place a purchase - systematic transfer plan for the switch order. In Purchase- Systematic Transfer Plan or PSTP, investor purchases a debt (usually) fund and also gives instructions switch the debt fund purchased into an equity fund. PSTPs are variations offered by banks/ investment advisers and hence fund houses treat them as two different orders – Purchase order and a switch order

In PSTP the user can place a purchase order for a fund and simultaneously place a switch order with the fund being purchased as the source fund and a different fund being the destination fund.

To switch the mutual funds:

Field Description

Field Name	Description
Fund Details
Investment Account	The account number to which the current switch order belongs.
Risk Profile	The risk profile of the selected investment account. For more information on Risk Profile, click Risk Profiling.
Switch Type	The type of switch order that is to be placed. The options are: Onetime - This type of switch order allows the retail investor placing switch order for one time lump sum purchase. STP - A STP (Systematic Transfer Plan) is an investment vehicle that allows the users to invest small amounts periodically or at regular frequency instead of lump sums. PSTP - Purchase + Systematic Transfer Plan
Initial Purchase Scheme
New/ Existing	Indicates whether user plans to purchase additional units of a scheme he already has invested in or a new fund.
Fund House	The Fund house from which user intends to purchase the fund.
Fund Category	The fund category to which the fund house in context belongs.
Scheme Name	Name of the fund/ scheme.
Current Unit Price	The latest price per unit of the selected scheme for the current order.
Scheme Suitability	Indicate whether the scheme is suitable for user to invest in. The system displays 'Yes' if its is suitable and 'No', if the scheme is not suitable.
Folio	Folio number for the purchase scheme, can be an existing one or a new one.
Amount	The order amount of the current one-time purchase order.
Min. Amount	The minimum purchase order amount per installment as set by the fund house for the scheme. This field appears, if you select Amount option in the Switch By field.
Cut Off Period	Cut off time and date for the order as provided by the MF processor.

From the Investment Account list, select the account number from which the user wants to select the fund.
In the Switch Type field, select the PSTP option.
In the Initial Purchase Scheme section, select the fund house from the Fund House list, from which user intends to switch the fund.
From the Fund Category list, select the fund house from which user wants to switch the fund.
From the Scheme Name list, select the fund/ scheme which user wants to switch.
From the Folio list, select the folio number of the scheme.
In the Order Amount field, enter the order amount.
Click Purchase. The Switch In - PSTP - Order Details screen appears.
OR
Click Cancel if you want to cancel the transaction.
OR
Click Back to Wealth Overview, to navigate to the Wealth Management dashboard.

Switch In- PSTP - Order Details

Field Description

Field Name	Description
Switch In Scheme (Destination Fund)
Fund House	The fund house from which user intends to switch the fund for current redemption order.
Scheme Name	Name of the fund/ scheme which user intends to switch the fund for current order. Schemes will be based on fund selected house /fund category.
View Current NAV	Link to view the latest NAV/ price per unit of the selected scheme for current switch order.
Scheme Suitability	Displays whether the scheme is suitable for user to invest in provided by MF processor. The system displays 'Yes' if its is suitable and 'No', if the scheme is not suitable.
Folio	Folio number of the selected order or "New" is displayed in the case new folio option has been selected.
Set Instructions
Frequency	List of SWP frequencies specified by fund house. The options are: Daily Weekly Monthly
Switch By	Options whether to switch by Units/ All Units/ Amount. The options are: Units - On selecting this option, user has to specify the number of units to be switched in the current switch order Amount - On selecting this option, user has to specify the amount to be switched in the current switch order
Units	The number of units to be switched in the current switch order. This field appears, if you select Units option in the Switch By field.
Min Units	The Minimum number of installments for the STP specified by fund house. This field appears, if you select Units option in the Switch By field.
Amount	The order amount per installment of the current PSTP order. This field appears, if you select Amount option in the Switch By field.
Min. Amount	The minimum STP order amount per installment as set by the fund house for the scheme. This field appears, if you select Amount option in the Switch By field.
Start Date	List of STP date specified by fund house.
Installments	List of STP installments specified by fund house.
Cut Off Period	Cut off time and date for the order as provided by the MF processor.
Switch orders placed Fund(s) Currently selected for switch
No. of Funds Selected	Displays the number of switch orders that have been placed till then ( in the context of multiple switch orders - maximum 3 switch orders can be placed in one go).
Total Order Amount	Sum of all the order amounts.
Folio No	Folio number of the selected order or "New" is displayed in the case new folio option has been selected.
Scheme Name	Name of the scheme selected for current switch order.
Order Amount	Order amount keyed in by user.

From the Scheme Name list, select the fund/ scheme which user wants to switch the fund.
OR
Click the View Current NAV link to view the latest NAV/ price per unit of the selected scheme.
From the Folio list, select the appropriate option.
In the Set Instructions section, select the appropriate frequency from the Frequency list field.
In the Switch By field, select the appropriate switch option.
- If you select Units option, enter the number of units to be switched in the Units field.
- If you select Amount option, enter the amount to be switched in the Amount field.
In the Start Date field, select the appropriate start date for SWP.
From the Installments list, select the STP installments.
Repeat steps 9 to 13 of Switch Out Funds - One Time section

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