Hai Everyone,
Can anyone clarify about the meaning of FIFO method in mutual fund redemption method. Here I tell by example.
I purchased mutual fund SBI pharma fund - direct plan - dividend. I got some gains over the period. While I redeeming the money from my fund, It took the money from principal instead of from gains. When I asked about it, I got the reply from the MF as ' Money was deducted from FIFO method.
I will appreciate anyone who explain me. Thanks
Can anyone clarify about the meaning of FIFO method in mutual fund redemption method. Here I tell by example.
I purchased mutual fund SBI pharma fund - direct plan - dividend. I got some gains over the period. While I redeeming the money from my fund, It took the money from principal instead of from gains. When I asked about it, I got the reply from the MF as ' Money was deducted from FIFO method.
I will appreciate anyone who explain me. Thanks