Online investing of mutual funds

[Flash2talk]

Online Transactions for Mutual Funds

Is it possible to buy/sell/switch mutual funds (of different AMC's) on line?
What is the procedure for it?
For running funds; whether purchase on line is effected the same day (i mean NAV of the date of purchase).

Normally i do such transactions through local agents.
In the current too volatile market the difficulty in such cases is that for running funds; when we buy funds through agents the purchase is effected mostly in one week . If the NAV goes up in this time it makes lot difference.

Last month for a purchase of 5 lakhs; i loose almost 25,000 Rs from the date i made the payment to the date the purchase was effected.

 

[Flash2talk]

Re: Online Transactions for Mutual Funds

Hai Fellow Investors,

Your replies on my above query is appreciated

 

[Rigid]

Re: Online Transactions for Mutual Funds

Yes, it is possible...all you have to do is register for a mutual fund account with online trading portals like icicidirect.com or usectrade.com

Its much convenient and easy to manage. The same day NAV will be considered if the trading (buy/sale/switch) takes place before the cut-off time (usually 1300Hrs) and after that, next day's NAV will be considered.

 

[Flash2talk]

Re: Online Transactions for Mutual Funds

As per SEBI announcement; investors can buy without entry load charges, funds directly from the AMC.

Such facility is also available with ICICI direct etc...?

 

[Rigid]

Re: Online Transactions for Mutual Funds

I don't think so coz when u invest through ICICI Direct, they act as your broker and hence you're not buying directly from AMC but via ICICI Direct. As a result, the entry loads will still be applicable in this case.

 

[strongxforce]

Re: Online Transactions for Mutual Funds

A similar facility is available with HDFC online banking.
They will charge fees of about 100Rs as far as I understand.
Plus like rigid said there will be LOADS

 

[Flash2talk]

Re: Online Transactions for Mutual Funds

How to buy from AMC direct then to avoid the entry load?

 

[asadbeig]

Re: Online Transactions for Mutual Funds

How to buy from AMC direct then to avoid the entry load?

You may download the application form from the AMC's website and submit it at their collection centre or if you already have invested in one of the AMC's funds, you can use your Folio Number to invest online through the AMC's website.

 

[mrindia]

Re: Online Transactions for Mutual Funds

Investments thro' CAMS/Karvy are treated as 'direct' or 'agent-mediated' as far as entry load is concerned?

 

[life2007]

Re: Online Transactions for Mutual Funds

How to buy from AMC direct then to avoid the entry load?

Hello Guys....

Now that we all know that there will be no Entry Load for direct investment to AMCs... Just wondered to ask opinion of you all

WOULD THE SAVING BE CONSIDERABLE ENOUGH TO AVOID ONLINE
MUTUAL FUNDS TRANSCATIONS THROUGH AGENTS (LIKE ICICI,
SHAREKHAN, HDFC) IN THE COMFORTS OF OUR DRAWING ROOM ?

I mean is it worth to forgo the the comforts of SIP transcations where it is totally paperless and the money gets debited automatically after the initial procedure??

At the end of the day ... getting rid of Entry Load is a good decision ??


Thanks

Jeet