At WealthTrust our mission has always been to simplify investing for our users and making their financial life easy. Be it our ‘Portfolio Tracker’ or ‘Switch to Direct’ feature, our users have loved them and always expressed their appreciation.
One such feature ‘Power Savings’ was launched in March’2017 where the returns were better than savings account, minimum investment started with as low as Rs. 500/- only and above all the investors had a complete control on their money with absolutely no lock-in period + 24×7 instant redemption facility. This feature was welcomed & highly applauded by our users and we received some amazing reviews by the frequent users of ‘Power Savings’.
There are few changes happening in our ‘Power Savings’ feature which we want you to know. SEBI has recently come up with new guidelines for instant redemption feature across all the AMCs. Key points of the guidelines are:
- Instant Redemption will no longer be available for Money manager funds. It will be only available for liquid funds.
- Maximum Instant Redemption limit per day has been revised from Rs. 2,00,000 (Two lakhs) to Rs. 50,000 (Fifty thousand).
Hence we will be changing the underlying fund to a liquid fund for our Power Savings feature. The Liquid fund will have similar benefits such as better returns than savings account, no lock-in period, 24×7 instant redemption facility, etc.
Kindly Note: Since the launch of the new liquid fund will take couple weeks, we request all our users not to make any investment in the current version of Power Savings. We will update you as and when the newer version is available on our app and open for investment.
In Future the new version of power savings will bring some more benefits which will help our users to manage their finances easily.
If you have any doubts or feedback kindly write to us on firstname.lastname@example.org or WhatsApp us on +91 98790 02229 and we will get in touch with you ASAP.