Go Back   Team-BHP > Around the Corner > Shifting gears


Reply
 
Thread Tools Search this Thread
Old 24th September 2012, 12:37   #271
BHPian
 
madbullram's Avatar
 
Join Date: Oct 2006
Location: Chennai & Appleton, WI
Posts: 513
Thanked: 75 Times
Default Re: The Mutual Funds Thread

1. Once you open you account in FundsIndian (FI), you can submit a form for transfer of MF from ShareKhan to FI. This will take 2-3 weeks to show-up in your FI account.
2. once the transfer is done, you can use FI to do the tracking, redeem, invest etc
3. I have only good and excellent experience with them.

Only thing which might be against them in future is, if SEBi comes with a mandate for different treatment for investors via agents and direct investors. Right now, we all pay the same
madbullram is offline   Reply With Quote
Old 24th September 2012, 13:27   #272
BHPian
 
Join Date: Nov 2010
Location: New Delhi
Posts: 129
Thanked: 33 Times
Default Re: The Mutual Funds Thread

I would suggest ICICI Direct for MF investing, I have a good relationship with them and they waived of all charges on MF investing (lumpsum and SIP) for me.
Abhinav.Daos is offline   Reply With Quote
Old 24th September 2012, 14:16   #273
Senior - BHPian
 
Join Date: Mar 2007
Location: Mumbai
Posts: 1,444
Thanked: 281 Times
Default Re: The Mutual Funds Thread

Quote:
Originally Posted by Abhinav.Daos View Post
I would suggest ICICI Direct for MF investing, I have a good relationship with them and they waived of all charges on MF investing (lumpsum and SIP) for me.
What charges are you referring to?
carboy is offline   Reply With Quote
Old 24th September 2012, 14:50   #274
BHPian
 
huntrz's Avatar
 
Join Date: Feb 2007
Location: Hyderabad
Posts: 66
Thanked: 18 Times
Default Re: The Mutual Funds Thread

Quote:
Originally Posted by Abhinav.Daos View Post
I would suggest ICICI Direct for MF investing, I have a good relationship with them and they waived of all charges on MF investing (lumpsum and SIP) for me.
Quote:
Originally Posted by carboy View Post
What charges are you referring to?
If the portfolio is above 8 lakhs they don't levy any charges on equity and hybrid MF transactions. ICICI levies INR 100 for lumpsum buy and INR 30 for SIP.
It is high in the current era of trailing commissions but after having experienced SBI Cap Securities I think it is a very small price to pay for reliability, convenience and peace of mind.
huntrz is online now   Reply With Quote
Old 24th September 2012, 15:08   #275
BHPian
 
Join Date: Oct 2004
Location: Pune
Posts: 278
Thanked: 62 Times
Default Re: The Mutual Funds Thread

HDFC Bank also offers this service if you have an Investment Services Account. You can purchase, redeem, and switch funds online.

Earlier, it used to be Rs. 100 per quarter as charges, but now wef 1st November 2011, HDFC Bank has "opted-in" for transaction charge as per the SEBI circular no. Cir/ IMD/ DF/13/ 2011 dated August 22, 2011.

Pradeep
pradkumar is offline   Reply With Quote
Old 24th September 2012, 15:59   #276
Senior - BHPian
 
Join Date: Mar 2007
Location: Mumbai
Posts: 1,444
Thanked: 281 Times
Default Re: The Mutual Funds Thread

Quote:
Originally Posted by huntrz View Post
If the portfolio is above 8 lakhs they don't levy any charges on equity and hybrid MF transactions. ICICI levies INR 100 for lumpsum buy and INR 30 for SIP.
How do I figure out if I am being levied any charges and how much?
carboy is offline   Reply With Quote
Old 24th September 2012, 16:13   #277
BHPian
 
madbullram's Avatar
 
Join Date: Oct 2006
Location: Chennai & Appleton, WI
Posts: 513
Thanked: 75 Times
Default Re: The Mutual Funds Thread

Quote:
Originally Posted by pradkumar View Post
HDFC Bank also offers this service if you have an Investment Services Account. You can purchase, redeem, and switch funds online.

Earlier, it used to be Rs. 100 per quarter as charges, but now wef 1st November 2011, HDFC Bank has "opted-in" for transaction charge as per the SEBI circular no. Cir/ IMD/ DF/13/ 2011 dated August 22, 2011.

Pradeep
Why not use Fundsindia.com, which charges nothing irrespective of the amount you transact instead of paying such charges to banks like HDFC, ICICI etc?
madbullram is offline   Reply With Quote
Old 24th September 2012, 16:47   #278
BHPian
 
huntrz's Avatar
 
Join Date: Feb 2007
Location: Hyderabad
Posts: 66
Thanked: 18 Times
Default Re: The Mutual Funds Thread

Quote:
Originally Posted by carboy View Post
How do I figure out if I am being levied any charges and how much?
You can check the fee structure section of Mutual Funds after logging in but not sure if it takes into account your MF holding or else do a transaction .
You can also ask your relationship manager or customercare. Relation ship manager's number is mentioned in the Customer Care section after logging in.
huntrz is online now   Reply With Quote
Old 24th September 2012, 17:25   #279
BHPian
 
Join Date: Nov 2010
Location: New Delhi
Posts: 129
Thanked: 33 Times
Default Re: The Mutual Funds Thread

Quote:
Originally Posted by carboy View Post
How do I figure out if I am being levied any charges and how much?
1. Go to Mutual Funds > Units Held and check the cost of investment

2. Then go to Portfolio > MF and check the cost of investment there

If 2>1 then the difference is the fees charged.
Abhinav.Daos is offline   Reply With Quote
Old 24th September 2012, 19:41   #280
Senior - BHPian
 
Join Date: Mar 2007
Location: Mumbai
Posts: 1,444
Thanked: 281 Times
Default Re: The Mutual Funds Thread

Quote:
Originally Posted by Abhinav.Daos View Post
1. Go to Mutual Funds > Units Held and check the cost of investment
Under Mutual Funds, I see 'Unit holdings'. In that I see a column 'Value at cost' - is that what you are referring to?
Quote:
Originally Posted by Abhinav.Daos View Post
2. Then go to Portfolio > MF and check the cost of investment there
Again I see 'Value at Cost' here - is that the same thing you are referring to?

Quote:
Originally Posted by huntrz View Post
You can check the fee structure section of Mutual Funds after logging in
Where is the fee structure given?
Quote:
Originally Posted by huntrz View Post
You can also ask your relationship manager or customercare.
What is the name of the fee(s)?

Last edited by carboy : 24th September 2012 at 19:44.
carboy is offline   Reply With Quote
Old 24th September 2012, 19:49   #281
BHPian
 
Join Date: Nov 2010
Location: New Delhi
Posts: 129
Thanked: 33 Times
Default Re: The Mutual Funds Thread

Quote:
Originally Posted by carboy View Post
Under Mutual Funds, I see 'Unit holdings'. In that I see a column 'Value at cost' - is that what you are referring to?

Again I see 'Value at Cost' here - is that the same thing you are referring to?
Yes if there any difference in value at cost in the two places for a particular investment then that is the fees charged.
Abhinav.Daos is offline   Reply With Quote
Old 24th September 2012, 22:00   #282
BHPian
 
huntrz's Avatar
 
Join Date: Feb 2007
Location: Hyderabad
Posts: 66
Thanked: 18 Times
Default Re: The Mutual Funds Thread

Quote:
Originally Posted by carboy View Post

Where is the fee structure given?
Trade and Invest-> Mutual funds-> Fee Structure


Quote:
Originally Posted by carboy View Post

What is the name of the fee(s)?
Mutual Fund commission.
huntrz is online now   Reply With Quote
Old 26th September 2012, 00:09   #283
BHPian
 
Join Date: Oct 2011
Location: mumbai
Posts: 450
Thanked: 181 Times
Default Re: The Mutual Funds Thread

Quote:
Originally Posted by sgiitk View Post
@faustus77; No idea about the SBI fund, so am not qualified to comment.

Now with the DTC going for another major revamp and delayed (though PC hope it is not) all bets based on that are off.
Hi
Thanks your reply.
Checked with my mutual fund agent and a website.As far as the past trailing 12 months are concerned SBI dynamic bond has given better returns.
The advantage of moneymarket is that you can get credit within a day and due to that it is very popular specially with corporates.
As far as the DTC goes it is anybody's guess.We will wait and watch
Regards

Last edited by faustus77 : 26th September 2012 at 00:10.
faustus77 is offline   Reply With Quote
Old 6th October 2012, 13:03   #284
Senior - BHPian
 
S_U_N's Avatar
 
Join Date: Mar 2010
Location: Pune
Posts: 1,778
Thanked: 375 Times
Default Re: The Mutual Funds Thread

Finally, after a couple of months of delay, I have started SIP in my son's name.
Hopefully, I will review the progress after 12 installments and then decide if I should continue putting in more money or just sit back and expect growth in the money that I am putting in now.

Now, that was for long term, but I am also planning to do something for the 2-3 lac that remains in my savings accounts with 4% interest.

The plan is to keep a little over 1 lac in savings account (for emergency) and the balance 2 lac or so in some funds which earn more than 4% and yet give me a high level of liquidity.
I have explored debt funds and liquid funds, but still unable to figure out how many days will it take for me to get money in my account (would be using FundsIndia.com) in case my emergency fund is also not sufficient.

How liquid are these funds really?
In addition, there is almost always an exit charge (I would stay invested for less than 1 year).
Another relevant point is that from this FY, interest on savings account is free upto Rs. 10000
https://www.imygoals.com/blog/rs-100...he-most-of-it/
S_U_N is offline   Reply With Quote
Old 6th October 2012, 13:59   #285
BHPian
 
Join Date: Nov 2010
Location: New Delhi
Posts: 129
Thanked: 33 Times
Default Re: The Mutual Funds Thread

Quote:
Originally Posted by S_U_N View Post
Finally, after a couple of months of delay, I have started SIP in my son's name.
Hopefully, I will review the progress after 12 installments and then decide if I should continue putting in more money or just sit back and expect growth in the money that I am putting in now.

Now, that was for long term, but I am also planning to do something for the 2-3 lac that remains in my savings accounts with 4% interest.

The plan is to keep a little over 1 lac in savings account (for emergency) and the balance 2 lac or so in some funds which earn more than 4% and yet give me a high level of liquidity.
I have explored debt funds and liquid funds, but still unable to figure out how many days will it take for me to get money in my account (would be using FundsIndia.com) in case my emergency fund is also not sufficient.

How liquid are these funds really?
In addition, there is almost always an exit charge (I would stay invested for less than 1 year).
Another relevant point is that from this FY, interest on savings account is free upto Rs. 10000
https://www.imygoals.com/blog/rs-100...he-most-of-it/
Go for debts funds instead of liquid funds.

Check out Birla Sunlife short term plan and medium term plan they have a 1% exit load (roughly 35-40 days worth of interest). They are highly liquid and you can expect money in your account just one day after redemption. Return around 9-11% pa

Or you can try IDFC Ultra Short Term Fund (G). Redemption can take 2-3 business days but exit load is zero percent. Return 9-10.5%

I myself keep only 20-25k in my savings account, take care of most expenses via credit card and when the time comes to pay the credit card bills, rent, SIP payments, EMI then make redemption from the liquid fund investments 4-5 day before the payments become due. This way most of my free savings enjoy the highest rate of return with considerable safety! Debt funds don't register losses or go below SBI FD rates unless there's a big market failure which is extremely unlikely.

Last edited by Abhinav.Daos : 6th October 2012 at 14:03.
Abhinav.Daos is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
The Team-Bhp thread of shame (Pray you arent mentioned in this thread ) speedsatya Street Experiences 10 24th February 2012 14:27
Aravali Auto Gurgaon (Chevrolet Dealer) - embezzled the funds given as booking amount SushantV Indian Car Dealerships 15 18th February 2012 00:16


All times are GMT +5.5. The time now is 08:09.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks