Sell a mutual fund

Facilitate redemptions for your investor

Mutual fund units are associated with folios. You can treat folios as sub-accounts under the investment account. You can fetch the list of folios for an investment a/c from the holdings report . redeemable_units shows the number of units that are available for selling. You can use the FP APIs to sell the units partially or in total.

1. Create a sell order

Call the create mf redemption with the following json. Use the investment account of the investor for whom you are placing the order for. Pass the folio_number and scheme from which you are selling the units.

{
  "mf_investment_account": "mfia_189111b00566431db0dace5332db519c",
  "folio_number": "15075102",
  "amount": 10000,
  "scheme": "INF173K01FQ0"
}

A MF Redemption gets created in pending state. Keep a note of the object id for tracking the status of the order.

# Displaying only a part of the object for brevity
{
  "object": "mf_redemption",
  "id": "mfr_15f8d86bae614801bab5accaed131abc",
  "old_id": 6597,
  "mf_investment_account": "mfia_189111b00566431db0dace5332db519c",
}

2. Confirm the order

Call the update mf redemption to confirm the order. FP sends it for processing only after confirmation. Use the following json:

{
  "id": "mfr_15f8d86bae614801bab5accaed131abc",
  "state": "confirmed"
}

2. Track the order

Call the fetch mf redemption to check the state of the sell order.
When the order is successfully submitted to the AMC, the order status becomes SUBMITTED. Learn more about the order states

Orders in confirmed state will be sent for processing and the object state will move to submitted. After the order is processed successfuly and units are repurchased by the AMC, the object state will move to successful; the redeemed units, amount and the price is available in redeemed_units, redeemed_amount and redeemed_price attributes of the mf redemption object.

Testing

In sandbox environment, you can use the simulation to simulate successful and failed orders to help you during the integration process. Use the following json to simulate the order to successful state.

{
  "status": "SUCCESSFUL"
}