What do I need to know when redeeming my MF?

I had an SIP in ICICI Prudential Focused Bluechip Fund, which ended in August 2015. I neither wish to redeem my investment nor do I wish to continue the SIP. If I redeem the proceeds in November 2015, will I get the NAV as of November or as of August? - Praveen Gulati, Gurgaon

ICICI Prudential Focused Bluechip is an open-ended fund, which means you can redeem your investments from this fund as and when convenient to you. The redemption value of the units that you hold in this fund is based on the day when the money is redeemed from the fund. What it means is that if you, say, redeem on November 5, the redemption will be based on the NAV on that day. The redemption has nothing to do with the date your SIP terminated on.

OLMdesk@outlookindia.com