- Wealth PMS
Interesting news today
ABN Amro MF has now put a cap on redemption on its long-term FMP schemes. All investors in these schemes can redeem only Rs 1 lakh per folio per day.
“As a short-term measure, the trustees of the mutual fund, in order to safeguard the interest of the investors who want to remain invested till the maturity of the long-term FMPs, today have decided to limit the redemption to 5% of the size of these schemes per day, with a further limit of Rs 1 lakh per investor, per day,” said ABN Amro India-AMC managing director Nikhil Johri.