Hey All,
I guess it been some Years now when the Sundaram MF acquired Principal AMC in India for Rs 338-crore approximately. This merger took place around 31st December 2021. Also, the AMC had gotten all the regulatory approval from the Securities and Exchange Board of India (SEBI) to acquire the asset management business.. Read more about the acquire of Principal Mutual Fund - Here. The point, I am trying to make here is that incase you had any of your mutual funds with Principal AMC, then they are no longer with them. All the URLs which Principal had are either not working and no longer redirects to the proper web portal where the investors of the Principal Mutual Fund can track their investment. I had a hard time figuring out where my mutual fund units worth more than $2K+ have gone and at later point in time came to know about this merger of both the AMCs and one need to visit Sundaram Mutual Fund web portal, register themselves and link their portfolio to track or redeem their mutual fund units. I could not find a single article which talked about - How to Redeem Principal Mutual Fund Units? Hence this article for the same..
The first and the foremost step is that you will need to follow three steps; which are Sign up, OTP verification and then Login to transact. And when you login you would need to link you folio number with your profile. Once you do the same, you will see options to either buy or redeem units that you HODL. I was more inclined towards redemption and hence initiated a transaction to redeem 256 units of more than Rs. One lakh which is equivalent to $1.2K+ or even more.
Redemption confirmation from Sundaram Mutual for $1.2K
You will also observe this message on the web portal stating where your formerly Principal Mutual Fund scheme been migrated to Sunduram... Something like this:: Sundaram Tax Savings Fund (Elss) (Formerly Known As 0.822 Principal Tax Savings Fund) - Regular Growth (TFGP). At one stage when I was not able to locate my funds on Principal website, I thought the funds are gone as I didn't migrate anything. But slowly and gradually after reading a couple of blogs I came to know that the migration would be automatic where customers/investors need not do anything from their end. All that they need is to register themselves on the sundarammutual and link their portfolio that's all they need to do to have access to their funds. I did exactly the same and you can see the result where I have placed a redemption request and now I am eagerly waiting for the funds to arrive in my savings bank account. So what is Next? How know there is going to be more of $HBD buying and being parked in the #HBD Savings... but lets where I redirect the funds.... cheers
Sundaram - Principal Mutual Fund - How to Redeem Principal Mutual Fund Units?
#sundaram #principal #mutualfunds #investment #sip #mutualfund #sundarammutual #hbd #hbdsavings
Have Your Say On Principal - Sundaram Mutual Fund Takeover...
Did you have any SIPs going with Principal Mutual Fund? Selling Vs HOLding the Mutual Funds Units? Howz your strategy with Mutual Funds Looking Like? Please let me know in the comment section below...
Best Regards
Image Courtesy:: leofinance, sundram mutual fund, wealthzi
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've an interest in BlockChain & Cryptos and have been investing in many emerging projects..cheers