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Old 23rd April 2015, 11:07   #796
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There is only commission, no brokerage or annual fees. The annual fee is for the delay.
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Old 23rd April 2015, 11:32   #797
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Default Re: The Mutual Funds Thread

Only debt funds are taxable.

Pradeep

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Originally Posted by Rachit.K.Dogra View Post
Hey Guys,

I have been having one confusion and I am still not sure about the answer.
I have 2 Tax Benefit Mutual Funds:
1) SBI Magnum Dividend
2) ICICI Prudential Tax plan

Both of them have a 3 year Lock In Period.
I did hear the government making Profits from these funds as taxable, not sure if it got implemented.

Can somebody please help me with this.

Thanks Regards
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Old 23rd April 2015, 12:07   #798
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Question Re: The Mutual Funds Thread

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Why would any broker give you a direct option, when they have to do all the back end work.
Please keep in mind that a lot of work goes into the back end for each purchase or redemption. It also takes money to run and update the site.
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There is only commission, no brokerage or annual fees. The annual fee is for the delay.
You do pay the annual fees for these intermediaries. And also, they charge a fee for each SIP transaction.

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Originally Posted by Jaguar View Post
But aren't they getting paid twice? First from the invester, annual fees + brokerage for each investment. And also from the fund company in terms of commission?
Exactly. They deduct transaction fee for each SIP transaction/installment and in addition they get the trailing commission from the AMC. The trailing commission is NOT transparent to the investor.
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Old 23rd April 2015, 12:53   #799
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You do pay the annual fees for these intermediaries. And also, they charge a fee for each SIP transaction.



Exactly. They deduct transaction fee for each SIP transaction/installment and in addition they get the trailing commission from the AMC. The trailing commission is NOT transparent to the investor.
Just to set the record straight, I dont pay a fee for each and every transaction. If I invest say 50,000 in a fund, my portfolio shows the value as Rs 50,000 as the pruchase cost. I dont pay any extra amount at the time of investing, nor is any amoutn deducted from the investment amount.

I guess this could be because of the total value of investments though I am not sure.
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Old 23rd April 2015, 14:03   #800
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Default Re: The Mutual Funds Thread

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Originally Posted by mav2000 View Post
Just to set the record straight, I dont pay a fee for each and every transaction. If I invest say 50,000 in a fund, my portfolio shows the value as Rs 50,000 as the pruchase cost. I dont pay any extra amount at the time of investing, nor is any amoutn deducted from the investment amount.

I guess this could be because of the total value of investments though I am not sure.
Which plan do you have from ICICI? I am hit with a transaction charge of Rs. 30 for every Rs. 5000 SIP.
Name:  ICICIDirect.JPG
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Even in my statement, the purchase cost is shown as Rs. 5000. When I scroll down to the last page, the transaction charges are mentioned.

Last edited by Jaguar : 23rd April 2015 at 14:05.
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Old 23rd April 2015, 14:22   #801
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Default Re: The Mutual Funds Thread

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Which plan do you have from ICICI? I am hit with a transaction charge of Rs. 30 for every Rs. 5000 SIP.
Attachment 1363667

Even in my statement, the purchase cost is shown as Rs. 5000. When I scroll down to the last page, the transaction charges are mentioned.
If i remember correct, Icicidirect does not levy any charge on your MF transactions if the total amount of your mutual fund holdings > 8L.
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Old 23rd April 2015, 14:55   #802
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Default Re: The Mutual Funds Thread

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Which plan do you have from ICICI? I am hit with a transaction charge of Rs. 30 for every Rs. 5000 SIP.
They waive off the transaction charge if your total portfolio holding is more than a certain amount (used to be 8L a few years back).

Unsolicited advice: Why even bother about going via an intermediary, when you can open a account with almost all fund houses directly. There is no entry load and you save on "trail-commission" as well.
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Old 23rd April 2015, 16:31   #803
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Unsolicited advice: Why even bother about going via an intermediary, when you can open a account with almost all fund houses directly. There is no entry load and you save on "trail-commission" as well.
I am in the process of doing that only. This was in response to a comment by mav2000 that direct investment doesn't have much advantage anymore. Please refer some earlier posts from yesterday onwards.
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Old 23rd April 2015, 16:45   #804
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Question Re: The Mutual Funds Thread

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Originally Posted by mav2000 View Post
I guess this could be because of the total value of investments though I am not sure.
Once you exceed a threshold amount(@ICICIDirect : 8L) they would not charge you the transaction fee, but would NOT let go on the annual fees.

Anyways, the whole point being when you are NOT advising the investor on the funds, why to pocket the commission?
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Old 5th May 2015, 11:47   #805
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Default Re: The Mutual Funds Thread

Thought this would be the correct place to post this.

Parag Parikh is no more, RIP.

https://www.valueresearchonline.com/....asp?str=27810
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Old 22nd May 2015, 14:55   #806
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Originally Posted by shankar.balan View Post
There is a very smart site run by some very smart people, with a very honest, simple credo, which can benefit guys like us, the regular joe's of the world.

Try it sometime, I can stand up and say that you will not regret it.

www.scripbox.com is the link.

check it out and see - take the tutorial. Enjoy and watch your money grow. Go about your life with complete peace of mind because scrip box will allow you to concentrate on what you do best...while taking care of your interests on the Mutual Funds world.

A far more intelligent solution than any other that I have seen these last 15 years or so...
Anyone else investing with Scripbox?

Are these guys credible? Something seems fishy to me, i don't know what.

Any experiences?
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Old 22nd May 2015, 15:28   #807
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Default Re: The Mutual Funds Thread

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Originally Posted by DCEite View Post
Anyone else investing with Scripbox?

Are these guys credible? Something seems fishy to me, i don't know what.

Any experiences?

I have an account with them & active ECS mandate also. But like you said, something is stopping me from investing my money in them. Did you check sharekhan?
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Old 23rd May 2015, 22:34   #808
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I have an account with them & active ECS mandate also. But like you said, something is stopping me from investing my money in them. Did you check sharekhan?
Quote:
Originally Posted by DCEite View Post
Anyone else investing with Scripbox?

Are these guys credible? Something seems fishy to me, i don't know what.

Any experiences?
I have never invested through Scripbox though I did think of doing so a few times, but they have been around for years and I have not heard any complaints.

Do bear in mind that Scripbox and all other online portals make their money from trail commissions. Compared to direct plans, you will end up losing 1% or so each year which adds up to a tidy amount depending on how long you are invested and how much you put in.

Scripbox works by giving you a basket of 5 or so funds to invest in. This list is revised every year. One thing to note is that Scripbox does not take your existing investments into account, nor does it seem to assess your appetite for risk or your investment horizon.

All said, I would say that Scripbox is a convenient option for those who do not have the time or energy for mutual fund investments. For instance, many years ago whenever my wife had some extra money, she would call up Sharekhan or Way2Wealth and invest lump sum in mutual funds based on their recommendations. Compared to what we did, Scripbox is much, much better. However, mutual fund investing is not that difficult with tons of resources on the web and these days we do SIPs in direct plans ourselves.
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Old 31st May 2015, 11:03   #809
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Has anyone opened an account with Myuniverse (Adtiya birla group). They offer a product where all your bank account and credit card details are consolidated into a single snapshot and also offer online mutual fund account.

How safe is it?

Any first hand experience?
I know your post was a long time ago, but I had the same question today.

I wa cleaning out my inbox and saw an old mailer from myuniverse and checked out the website. It seems to have good features and backed by Aditya Birla group.

I have been investing in the Direct Plans from individual fund house websites and using morningstar and valueresearchonline to conduct research. I re-look at portfolio once in a couple of years which I feel is too infrequent going by advise online. Yhats why the features on myuniverse looked good especially the zipsip.

Has anyone used this website? How does it compare to other ways of buying into MF's e.g. direct plans?
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Old 26th June 2015, 15:17   #810
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Esteemed Moderators, first of all thanks for your time and energy that keeps this forum 'Revving!'

We have forums for Gadgets and Travelogues, but i also want to share good as well as bad experiences of other products, so people can decide better.

This one is on online investing - stocks and mutual funds. More and more people invest in muutal funds now. Pls post this if you think its appropriate.


1. 2-3 years ago I changed by operating bank a/c. Accordingly I gave insructions to Kotak. I said specifically I wanted the change for both equity and mutual funds.
2. Then in 2013, I did a MutualFund redemption and found it went to the old bank a/c.
3. I Interacted with your local office. First Mr Deepak Jain, who didn’t respond to my emails repeatedly.
4. Escalated to Mr Ronak Kumat. Pls see my mail of apr-17 attached, and mail-trails. 3 months of interaction and no progress. Got answers like “Sir, Reliance isn’t responding”. “Sir, theres no RM, still we are trying to help you’ – What the heck that does mean? Finally I got the job done myself - my ICICIdirect RM sent somebody across and the whole thing was settled in ½ day! Clearly, going through you is a waste of time.
5. Then your people (cust serv – in 2014 I think) said there’s a diff form for MF which is additionally reqd. I filled it and sent it.
6. No response from you. When I try to find out, they tell me – ‘it’s the wrong form, moreover no cancelled chk attached’. Hence “rejected’ ! No one informed me that a check was reqd. no one could also call to tell me the submission was ‘rejected’.
7. So when I call your cust serv again, Now they tell me a diff form, and to attach a bank attestation letter too (which I was never told was reqd on 2 prior occasions)
8. I have no idea what an attestation letter is. Send me a format I ask, so that you don’t ‘reject’ again. No proper response. I email saying, At least call me and tell me what this is so that I send something sensible.
9. After 1-2 follow ups, someone calls. Call disconnects in 15 secs. No call back. Instead I get a mail saying the same ‘copy-pasted’ thing - “We need a bank attestation letter”. (See My mails June 12 tro 23th). When I say you gave me enough reason to take my funds out, the response I get is the best of all – another copy paste mail “With reference to your query below, we wish to inform you that inorder to transfer the shares from your Demat account to another Demat account…..’!!!!
10. So I send them whatever the bank gives me. This time I send it to the specified person, and address in your Mumbai office (name and address given by your cust serv)
11. No response after 15days. I call cust serv, and they say call that person. Which I did. She says ( I think it was a she), “I don’t handle this anymore, and I don’t know where the app is gone.
12. Now in 2015, I am asked the same papers all over again.
a. Your people don’t give a shit that I am asked to submit once again, that I have to visit my bank again for the letter and so forth.
b. Reasonable alternatives –I offer - either a blunt reply, or just plain silence.
c. No one knows who my RM is for 2 years, and suddenly, theres a mail saying “Ronak Kumat is my RM’
d. Ask direct questions, and its respectful to give direct answers. But No, your people think they are good ‘relationship managers’ instead! Painful!
e. I ask for an escalation path – my request is just plain ignored.
See Mail from mandeep june 3rd for the full trail)
13. And today I spot a mail for your customer service saying – your bank a/c was updated last year! These are the same folks who told me May 2015 as well as last year too, that there’s no trace of my papers!

Take action if you wish to, or don’t – its not my prob. I will redeem my money, once you figure out how to redeem it into my account! The commissions you earned from AMCs, I will now save!
Nearly every individual I interacted with was atrocious, that ‘consistency’ shows as an organization you have degenerated – not what you were before.
I will / should put this up in social media, so that more don’t fall prey.

I'd like to add to the earlier thread.

i am a recent entrant to this thread - this perhaps was mentioned earlier, but its really worthwhile reiterating.

i invested in muutals thro ICICIdirect.com and KotakSecurities.

But today 'Direct' investing is made possible by SEBI. i.e., you can open a/cs directly with AMCs. This way you save perhaps 0.5% of your investment, EVERY YEAR i.e., a higher return every year. that may not sound like much - But say you have 1 crore invested. This means every 10 years, you get 5-6 lakhs extra!

And convenience is same, and Kotak and ICICI offer absolutely no extra service for the money they make out of you ( even though they charge you nothing, this 5-6 lakhs i mentioned above goes to them!)

Last edited by Gannu_1 : 26th June 2015 at 15:51. Reason: Back to back posts merged. Please edit your post within the 30 minute edit window to add/edit your posts.
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