| Introduction of Systematic Transfer Plan(STP) as per AMC Master |
With reference to notice no 20191120-15, regarding activation of Systematic Transfer Plan x(STP) for Motilal Mutual Fund, PPFAS Mutual, Axis Mutual Fund, Nippon India Mutual Fund and Mirae Mutual Fund.
In addition to above AMCs, HDFC Mutual Fund is also been enabled for Systematic Transfer Plan (STP) with immediate effect on BSE StAR MF platform.
The AMC STP investment amount range and requirement of minimum installment numbers for HDFC schemes are as below:
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STP Frequency
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Daily
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Weekly
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Monthly
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Quarterly
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|
| |
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STP Dates
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All Business Days
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Monday to Friday
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1,5,10,15,20,25
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1,5,10,15,20,25
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|
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Minimum Instalment Amount -Other than Tax Saving Fund and Long Term Advantage Fund
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500
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500
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1000
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3000
|
|
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Minimum Instalments for all schemes
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RS. 500 TO RS.999 - 12 instalments, RS. 1000 TO ANY AMOUNT - 6 instalments
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12
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6
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2
|
|
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Multiples - Other than Tax Saving Fund and Long Term Advantage Fund
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100
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1
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100
|
100
|
|
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Minimum Instalment Amount - Tax Saving Fund and Long Term Advantage Fund
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500
|
500
|
500
|
500
|
|
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Multiples - Tax Saving Fund and Long Term Advantage Fund
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500
|
500
|
500
|
500
|
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The registrations done through this module shall be reported to AMC as STP Registrations and shall be identified as ASTP on BSE StAR MF Platform. The subsequent triggers and all the validations shall be based on the STP masters shared by the AMC.
Subsequently, other AMCs whose schemes would be available shall be intimated by way of a separate notice.
A detailed process note is attached herewith as Annexure 1.
The existing STP would be renamed as ESTP (Exchange STP) and as per the current practice, the orders shall be reported as switch orders. Due to this, the width of the order type field is enhanced to 4 characters.
Members are hereby requested to note that, if three consecutive transactions against the registration are rejected for any of the reason, the registration will be auto cancelled in the system after the third rejection except Daily Frequency.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Asst. General Manager – Mutual Funds |