IDFC Mutual Fund has discontinued the SMS Transact facility for subscription or redemption of units of its schemes with effect from 27 April, 2022.
The fund house informed investors about the discontinuation via a notice-cum–addendum on April 26, 2022.
The SMS Transact, until recently, facilitated additional purchases, redemption and SIP registration in eligible open-ended schemes of IDFC MF through a single message from a registered mobile number.
The fund house stated that any transaction received via SMS Transact facility on or after 27 April, will not be accepted and processed.
“All other features, terms and conditions as stated in the SID (scheme information document), KIM (key information memorandum), and SAI (statement of additional information) of the IDFC Mutual Fund, read with the addenda issued from time to time, remain unchanged,” as per the notice.