Mutual Funds

I don't have demat. Icici agent convinced me to open one as there is no charges just for keeping an account. But after some time I saw no point as I don't deal in stocks directly and closed it out.
 
Many DPs charge some maintenance fee plus commission on transactions you do. Some 3rd party like fundsindia don't charge you any maintenance fee but of course commission is there. I go for someone like them if I want to have consolidated view of all transactions across mutual funds and be able to schedule SIPs of my choice and buy/sell anytime through a single interface.
 
Thanks for your inputs.

One suggestion - if you are investing on SIP of your choice - I think you should switch to Direct plan.
 
I am there for the convenience. Logging in & maintaining multiple accounts/pwd etc itself I wanted to avoid. I tried doing that, but I ended up with different style of passwords , different methods to buy etc. Like I said ,overall I might be sharing 0.1% of my earnings, but I am ok with it purely for convenience.

Also I would had to be setting up auto-debit//accounts for 10-15 different companies. Whereas this allows me to have autodebit only for them. And they take care of investing. Eg If I have to set for 5 MF SIP. 1 auto debit happens & they will make the purchase for me in the 5
 
I just logged into CAMS. I am able to buy direct using existing folios. But not a new folio. So maybe you can consider investing directly at the MF website of the house & then make further purchases using CAMS/KARVY etc websites using the same one. This will limit scope of login in future down to only 2/3 websites..

Also, I make the investment on their site, but do look at some of the stats etc available on their site
 
You dont lose 0.1%. You lose 0.5% to 2% every year.

For long term investment (at retirement) this will make difference of 10-20 lakhs of rupees.

Plus you will lose money when investing too. Sometimes exiting too (depending on what their T&C are)

I was Googling a lot today. Just realized that there is new thing launched last week! (officially by SEBI / AMFI)

Just for people like me/us - who want to do everything on own and save commission and yet dont want hassle of maintaining multiple MFs

MF Utilities India - Home
 

0.5 to 2% how? FundsIndia for example, only charges commission around 0.3-08% on the purchase/sale not any maintenance, hence I believe its not every year
 
What would be the brokerage for transactions submitted through MF Utility?

Transactions submitted through MFU are forwarded to the respective AMC or its RTA for processing. There is no change in applicability of brokerage or its processing.
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I think you will have to directly invest first & then use folio (just like CAMS/KARVY). I wonder if we can directly invest in a new folio here..
 
mhsabir said:
0.5 to 2% how? FundsIndia for example, only charges commission around 0.3-08% on the purchase/sale not any maintenance, hence I believe its not every year
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Every mutual fund scheme has 2 types. One Normal (via brokers) and one direct (no broker in between)

When you invest in MF in Normal mode. You pay for commission but THATS NOT IT.

Every year MF pay 0.5 to 1% to them OUT OF YOUR POCKET.

You do not realize this because it gets adjusted in NAV value.

For more read this:
Direct Plan of Mutual Funds – Should you Invest or not ?

In short if you are going to do your own decisions - you should better switch all your MF to direct plan. (switching can be done by filling up some form)
 
mhsabir said:
I think you will have to directly invest first & then use folio (just like CAMS/KARVY). I wonder if we can directly invest in a new folio here..
Click to expand...

Yes you can invest in new folio (you can do at karvy/cams too)

MFU is actually similar to CAMS/Karvy. Where you have to fill and submit paper forms first to apply.

But it has advantage that you do not need to pay differently to different MFs.

1 form and 1 payment can allow you to apply/pay for 5 mutual funds.

May be in future they will have online portal for direct payment without filling up forms.
 

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