Direct Investment in Mutual Funds

[mrindia]

if i understood correctly for making an SIP following are the steps...seniors of this forum please correct if I am wrong in some point

1. Download and fill up appluication for respective schemes fill DIRECT for ARN
2. Fill in the sip details if SIP is separate form
3. Attach a copy of the PAN card
4. Attach the cheque for the first SIP crossed(a/c payee ony)
5. First SIP date should be 30 days before application date.
6. Copy of the cheque or a cancelled cheque
7.ECS/Auto debit form(cheque details should match with attached cheque)regards,

Swama

Hi!
All well here. Like 2 add-
Step3: If you have previous investment with CAMS in any AMC, no need to furnish PAN proof now.
Step5: Though I m not sure, different AMCs have different incubation period, not 30days for all of them.

mr india

 

[srini4u]

Can somebody elaborate on this step while applying directly to MF?

5. First SIP date should be 30 days before application date.

Recently i applied SIP with autodebit in CAMS they asked me the first SIP to be after one month from the date of my application what shall i do for that?

Is that ryt or am not clear with that ?

 

[swama694]

5. First SIP date should be 30 days before application date.

5. First SIP date should be 30 days after application date.
but as mriindia said '30days' is juz a figure.... it varies from amc to amc
but i have a doubt whether the first 'sip date' is the 'sip date' of first cheque or 'sip date' for first autodebit?

I also have same doubt as I havn't till now opted for an SIP.

So those who have done SIp via ECS. please share ur experience....

Fo example if I want to start sip in a fund from april onwards....and my chosen sip date is every month 7th. I will forward my application on monday March 17th

then what should be the date on the first SIP cheque

and also what should be the date on sip start date in the SIP form..

Swama

 

[mrindia]

5. First SIP date should be 30 days before application date.

5. First SIP date should be 30 days after application date.
but as mriindia said '30days' is juz a figure.... it varies from amc to amc
but i have a doubt whether the first 'sip date' is the 'sip date' of first cheque or 'sip date' for first autodebit?

I also have same doubt as I havn't till now opted for an SIP.

So those who have done SIp via ECS. please share ur experience....

Fo example if I want to start sip in a fund from april onwards....and my chosen sip date is every month 7th. I will forward my application on monday March 17th

then what should be the date on the first SIP cheque

and also what should be the date on sip start date in the SIP form..

Swama

Hello!
Assume you start with 1000/-pm. The 1st cheque will be considered as 'purchase' (March17). Each next monthly investment will be 'SIP' (7th April, 7th May & so on)
Date on next cheques will be 7th of every month.
For all monthly payments, same principle will apply. (Either ECS or Post-Dated cheques).

mr india

 

[swama694]

thanks now its clear
ok so if i apply on march 17th then my first sip date for ecs/direct-debit(not postpaid) should be may7th(or a date in april if ur chosen date is after april 18th[march17 to april 17-30days gap]) as I have to give amc some-time(varies with amc) to register with bank for ecs.

Swama

 

[dhilip1]

thank u!!! all!!Informative !! Thread!!

 

[dhilip1]

1) For all investments, of course I have to fill the Common Application Form
2) I will be doing only SIP. So I have to fill the SIP Form as well
3) Again, I would prefer Auto debit. So I have write only the first cheque
and then ask for Auto debit from my bank. So I have to fill the Easy Pay
form too.
4) Documents to be enclosed along with the above forms are 1) Attested
PAN Copy 2) Cancelled Cheque
5) Submit all this to CAMS.
6) Do I receive a receipt immediately. My problem is that I live in outskirts
of my city, so I am not sure whether the postman will deliver the vital
documents so that there is a proof that I am invested with the
companies.



For SBI MAGNUM Tax::
in the Auto DEBIT ECS form , we have to get the Bankers Stamp & authorization by ourself or we have to just give all the Application form to CAMS office??

can any 1 guide me?

http://i232.photobucket.com/albums/ee80/dhilip1/sbi.jpg

 

[expertspeaks]

Can we also get exemption on Entry load if we direct invest in NFO?

No, I did not. I had applied for Birla Special Situation fund from their website and had to pay the entry load.

 

[jaya01]

Hi,
According to my knowledge DSP Merlin gold mutual fund is better and ICCI perdutional fund is also good. It has got best mutual fund award for 2008.

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Prathap

worldinfo

 

[d2thdr]

Right guys. Some guidance would be helpful.

I have invested about 3k per month via SIP in 3 different funds since December 2006 via broker as I am based overseas and had no clue how to do this. Now as I am more 'sayana' lol, I think using broker was bonkers as it seems there will be an entry load for every SIP which will be credited to the broker---is this correct?

Now I know I can ask the AMC to treat future SIP's as direct and as a rule of thumb I have decided to not use brokers at all. How do I ask the AMC to do that without loosing the same folio number?

Will the AMC permit this?

Or should I cancel my SIP and restart it in the same Folio?

Another question, is there any software ( paid/free) I can use to track the investments?

Many thanks.