Aditya Birla Money — Redemption of mutual funds position for investment via Aditya Birla My Universe

prajakta1994

from Vasai-Virar, Maharashtra

Address:	Mumbai City, Maharashtra, 400012
Website:	www.myuniverse.co.in

Dear Team,

I have invested in Aditya Birla My Universe via their online portal. My customer id is "[protected]@gmail.com"; my investor id is "ABMMU0089366".

I have been having huge issues with the company w.r.t. my request for redemption. Following to be noted
- I needed funds for my personal urgent needs and hence want to redeem ALL my mutual fund investment done via the company
- I tried on their on-line portal. The portal navigation is so complicated that first of all I could not redeem any of my mutual fund position.
- I had to call their customer care no. Post their help, I was somehow able to redeem few of the schemes.
- Still redemption in many of the schemes was pending. I was advised to wait for few days (till the time all-line redemption requests are processed) and then again try giving online redemption requests for the remaining schemes.
- Post waiting for a week, I tried again to redeem my units via online option but the system could not take my request.
- I had to escalate the issue and senior officer 'Prakashika' came to help me. She told me to complete certain formalities (email authority etc.) wherein she would be able to put up redemption requests for my remaining positions via off-line option. She told me that redemption via off-line option can redeem all the positions except the ones in lock-in period.
- The senior officer could redeem few more schemes and I was still left with positions in 15 different schemes. I was also told that 6 of the schemes are in lock-in.
- Again I had to follow-up with the company & the senior official as to why all positions excluding lock-in are not redeemed. I have been chasing the company and they are not able to come back to me as of today.

My simple 2 requests
1. Redeem all the positions in mutual fund schemes except the lock-in
2. Let me know the exact date (in dd/mm/yyyy) format for the schemes in lock-in

Request you to note that, it has been more than 3 months (since Jan '17) that I am interacting with the team and still my requests are not duly replied.

Hope my complaint is taken seriously and immediate action is taken against the company.

Regards,

Jayakumar S Babu

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Comments

Manoranjan Chouhan Chowhan

from Sirur, Maharashtra

I find the same problem as I wanted to redeem my mutual fund investment with Aditya Birla Capital. As I tried to call customer care first of all one can not directly speak to customer care however as I put call back option a call came from customer care person who told me it is easy as instructed by customer care after following steps I could not succeed so tried to call again customer care after waiting for more than 22 minutes no body was answering my call so got frustrated
It is so difficult to redeem units in Aditya Birla Capital?

Abhishek Chaturvedy

from Delhi, Delhi

Surpised to see I am not the only one but so many consumers having, such bad experience with Myuniverse.
Not only messy website, where i can' t view my MF easily, many times the page do no t download and display itself, forget about any activity on website like purchasing and selling of MF.
Myuniverse is one of the Worst MF aggregator portal.
My complaint is, i have noticed despite SENSEX going very high next day when i see my portfolio on Myuniverse it is showing negative .
Completely shocking and difficult persist with such non-transparent portal.