Generally I wont give reviews on anything, but this Axis mutual fund has hurted me a lot and hence I am reviewing this.
I invested via Karvy in Axis small cap MF and after an year I was in need of money for some emergency and need to take the invested amount.
When I gave for redemption, the money was ready for redemption to HDFC bank account whereas I have only ICICI bank acoount till date.
It took nearly a week to enquire this and looks like some data entry was not proper in AXIS side.
After that they asked me go to the office physically and give a letter for redemption post which I was given a cheque after 1 month.
Main story comes when I tried to cancel the SIP.
This is the only MF which we need to write a physical form and give in hand to them.
I had other MF accounts also and redemption is easy and cancellation also was online.
When AXIS can get the investment online itself why they need investors to cancel SIP physically?
This is one of the worst MF redemption service I have ever experienced and wont be investing this again!
It may perform good but whats the point of investing when u face issues while redeeming/cancelling?!
Think of it and beware!