After the Switch

[Zombie96]

I make my investments with the Groww app.

Recently, I switched from UTI Nifty200 Momentum 30 Index fund to UTI Nifty 50 Index fund.

So, there is currently nothing invested in my momentum fund because I switched it. But it is still listed in my Active SIP area.

There is now an option to cancel SIP at the top. If I wish to entirely remove the fund (momentum) from my portfolio, I should select the "Cancel SIP" option, specify my reason for cancellation, and submit.

Q. Will there be any charges involved, and will doing so have any negative impact on my portfolio?

I would appreciate any assistance you may provide in this area.

 

[TaxWiser]

I make my investments with the Groww app.

Recently, I switched from UTI Nifty200 Momentum 30 Index fund to UTI Nifty 50 Index fund.

So, there is currently nothing invested in my momentum fund because I switched it. But it is still listed in my Active SIP area.

There is now an option to cancel SIP at the top. If I wish to entirely remove the fund (momentum) from my portfolio, I should select the "Cancel SIP" option, specify my reason for cancellation, and submit.

Q. Will there be any charges involved, and will doing so have any negative impact on my portfolio?

I would appreciate any assistance you may provide in this area.

Hey there!
Switching from UTI Nifty200 Momentum 30 Index Fund to UTI Nifty 50 Index Fund sounds like a strategic move.

To answer your question:

Cancelling the SIP

• Charges: Generally, there are no charges for cancelling an SIP. However, it's always good to double-check with Groww or the fund's terms and conditions just to be sure.
• Impact on Portfolio: Cancelling the SIP won't have a negative impact on your portfolio itself. It just means you won't be making any more automatic investments in the Momentum fund. Since you've already switched to the Nifty 50 Index Fund, your investments will continue there.

Steps to Remove the Fund

1. Cancel SIP: Go ahead and select the "Cancel SIP" option, specify your reason, and submit.
2. Remove from Portfolio: Once the SIP is cancelled, the fund should no longer appear in your active SIPs.

Happy investing!

 

[The INSANE Trader]

I make my investments with the Groww app.

Recently, I switched from UTI Nifty200 Momentum 30 Index fund to UTI Nifty 50 Index fund.

So, there is currently nothing invested in my momentum fund because I switched it. But it is still listed in my Active SIP area.

There is now an option to cancel SIP at the top. If I wish to entirely remove the fund (momentum) from my portfolio, I should select the "Cancel SIP" option, specify my reason for cancellation, and submit.

Q. Will there be any charges involved, and will doing so have any negative impact on my portfolio?

I would appreciate any assistance you may provide in this area.

Canceling the SIP should be straightforward and should not negatively impact your existing portfolio or incur charges. If you have specific concerns or if Groww has particular policies, it’s always a good idea to reach out to their support team for detailed guidance tailored to your situation.