Online investing of mutual funds
- Thread starter muralimr
- Start date
I've found that too, But my best way for investing online is to use this: online investing
anybody has any idea about http://fundsindia.com/ ?
they have no entry loads ans everything is online
any reviews on thier services?
they have no entry loads ans everything is online
any reviews on thier services?
Anurag,
Please check out this thread:
http://www.traderji.com/mutual-funds-discussion-forum/31479-fundsindia-safe.html
Thanks,
Srikanth
(Works for FundsIndia)
Please check out this thread:
http://www.traderji.com/mutual-funds-discussion-forum/31479-fundsindia-safe.html
Thanks,
Srikanth
(Works for FundsIndia)
I have a similar question. I want to invest online in mutual funds. I may also trade, but that is very limited - perhaps few times a year only. Hence I wish to open an online trading cum DMAT account where I can both trade & invest in MFs. I've narrowed it down to 3 options:
1. ICICIdirect - main drawback is that they charge Rs 100 or 1.5% (lower of the 2) for each investment & Rs 30 or 1.5% for SIP. So if I invest 10000 each into 4 MFs I end up paying Rs 400 to ICICI. Also if I invest 5000/month in SIP I pay Rs 360. So a total of Rs 860/year to ICICI for an investment of 1 lakh! I feel this is too high. Are these charges justified & worth it?
2. sharekhan - They seem to offer all the MF houses that ICICI also offers & no brokerage for each MF investment (SIP or otherwise). So is it a good alternative to icici?
3. HDFC - I was told the DMAT/trading account doesnt allow one to invest in MFs. For MFs I'll need a separate investment account (since I have savings a/c). So the AMC is nearly double - Rs 100/quarter for investment account & Rs 500 for trading account. Any thoughts on this?
Many thanks in advance.
Anand
1. ICICIdirect - main drawback is that they charge Rs 100 or 1.5% (lower of the 2) for each investment & Rs 30 or 1.5% for SIP. So if I invest 10000 each into 4 MFs I end up paying Rs 400 to ICICI. Also if I invest 5000/month in SIP I pay Rs 360. So a total of Rs 860/year to ICICI for an investment of 1 lakh! I feel this is too high. Are these charges justified & worth it?
2. sharekhan - They seem to offer all the MF houses that ICICI also offers & no brokerage for each MF investment (SIP or otherwise). So is it a good alternative to icici?
3. HDFC - I was told the DMAT/trading account doesnt allow one to invest in MFs. For MFs I'll need a separate investment account (since I have savings a/c). So the AMC is nearly double - Rs 100/quarter for investment account & Rs 500 for trading account. Any thoughts on this?
Many thanks in advance.
Anand
I am having Mutual Funds with Sharekhan as well as ICICI, but have always found Sharekhan to be good. One major reason for this being ability to retrieve statements on portfolio without the interference of Sharekhan (it can be done via CAMS or Mutual fund house).
In case of funds invested through ICICI, I am totally dependent on ICICI guys for retrieval of portfolio statements as the folio number given by them is not the actual Mutual Fund House's folio number (I asked the CAMS guy to provide me the statement for SBI Tax Saver fund invested in Sharekhan as well as ICICI, but he could locate my investments in Sharekhan only.)
To me, it sounds like ICICI is investing our money to mutual fund houses using their own name so that one has to be dependent on them for withdrawal purposes.
Please correct me if I am wrong by showing other means of getting the statements using ICICI given folio number.
In case of funds invested through ICICI, I am totally dependent on ICICI guys for retrieval of portfolio statements as the folio number given by them is not the actual Mutual Fund House's folio number (I asked the CAMS guy to provide me the statement for SBI Tax Saver fund invested in Sharekhan as well as ICICI, but he could locate my investments in Sharekhan only.)
To me, it sounds like ICICI is investing our money to mutual fund houses using their own name so that one has to be dependent on them for withdrawal purposes.
Please correct me if I am wrong by showing other means of getting the statements using ICICI given folio number.
Thanks for the prompt reply. That's a very useful insight - not being able to generate statements would be a pain! & that seems to make one dependant on ICICI - since we cannot sell directly thru AMC the funds invested thru ICICI, whereas with sharekhan we can directly sell. Right?
This may be required in case one closes ICICI dmat/trading account.
Just few more questions:
On Sharekhan is the selection of funds as good (or better) than ICICI?
Also, does Sharekhan charge any entry load? That's the huge downside of ICICI for MFs which I'm trying to avoid.
And does sharekhan offer all facilities - such as SIP, systematic transfer, systematic withdrawal, etc - whatever one may require for convenient investing?
I've opened an ICICI DMAT recently & if from this forum I find Sharekhan good for MFs I'll rather use that so all MF investments will remain in single account.
This may be required in case one closes ICICI dmat/trading account.
Just few more questions:
On Sharekhan is the selection of funds as good (or better) than ICICI?
Also, does Sharekhan charge any entry load? That's the huge downside of ICICI for MFs which I'm trying to avoid.
And does sharekhan offer all facilities - such as SIP, systematic transfer, systematic withdrawal, etc - whatever one may require for convenient investing?
I've opened an ICICI DMAT recently & if from this forum I find Sharekhan good for MFs I'll rather use that so all MF investments will remain in single account.
Last edited:
Let me see what all I can reply...
Yes, you are right. We dont need to necessarily interact with Sharekhan inorder to withdraw our funds.
I have invested in 6-7 funds via Sharekhan (mostly tax savers), did not get chance to look through all the fund selection. But from whatever I have seen, I must say, it is a long list of funds.
This clarity is what I have not received from Sharekhan yet.:annoyed:
I have two mails from ICICI regarding their revised brokerage structure based on new SEBI guidelines but none from Sharekhan. This has prevented me in investing in Tax Savers since August (other reasons also a contributing factor though
.
Yes, you can have SIP and STP with Sharekhan. Not sure abt systematic withdrawal but I think that should be possible as well. One more good thing about Sharekhan is availability of Flexi-SIP. Under Flexi-SIP, you can choose to invest in funds daily, weekly or monthly which means better flexibility over regular SIP.
Hope this helps.
Yes, you are right. We dont need to necessarily interact with Sharekhan inorder to withdraw our funds.
I have invested in 6-7 funds via Sharekhan (mostly tax savers), did not get chance to look through all the fund selection. But from whatever I have seen, I must say, it is a long list of funds.
This clarity is what I have not received from Sharekhan yet.:annoyed:
I have two mails from ICICI regarding their revised brokerage structure based on new SEBI guidelines but none from Sharekhan. This has prevented me in investing in Tax Savers since August (other reasons also a contributing factor though
.Yes, you can have SIP and STP with Sharekhan. Not sure abt systematic withdrawal but I think that should be possible as well. One more good thing about Sharekhan is availability of Flexi-SIP. Under Flexi-SIP, you can choose to invest in funds daily, weekly or monthly which means better flexibility over regular SIP.
Hope this helps.
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