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Old 21st February 2016, 19:07   #1051
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On a different note, I found many funds from SBI mutual fund company making it to the top at least statistically speaking. However, I do not find much mind share for their schemes. Even in this thread, SBI funds are not much discussed. Can any one provide some insight into this? Or am I missing some obvious issues with SBI mutual fund?
You are right, and I too have found it baffling.

But I guess some of it has to do with the history of mutual funds in India. A long time ago, there was only one AMC: UTI. Those who invested in the 90s still remember UTI's Unit 64 scheme which wiped out all investors. Others like me who invested in their Mastergain 92 remember getting pretty much their money back when they redeemed it after many years.

Before the 92 scam got exposed, SEBI was a toothless body and anything went in the capital markets, be it stocks or mutual funds. SBI was also around during those times and things changed for the better only after private players came in.

SBI was a big player and quite aggressive until the 2008 crash when redemptions hit them hard primarily in their Magnum and Contra fund. Those investors who lost money probably have a mental block about investing with them again. Same goes for those who invested in funds such as DSPBR T.I.G.E.R. that were favorites once upon a time.

However SBI seems to have turned the corner. Their Magnum is once again on top. A lot of it can be attributed to R. Sninivasan who has been handling their equity funds since 2011. Who knows? I may start a SIP with them.
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Old 22nd February 2016, 09:28   #1052
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@murillo; @Nowwhat?; The MFs of the PSU banks are not very popular due to their reputed poor response to any issues. I have been with StanC (earlier Grindlays) AMC for a long time, they do not even list SBI MFs and are loathe to deal with them for the reasons outlined.
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Old 3rd March 2016, 19:21   #1053
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Guys, I currently use Fundsindia for all my mutual fund investments. After reading all the discussions in this thread, I am thinking of moving the investments into direct schemes over a period of time. But the one thing I dislike the most is having to invest through individual websites of mutual funds as managing them becomes cumbersome.

So I was thinking of MFutil or Invezta. Invezta would again involve some fee while MFUtil would not. But the intial process of MFutil of submitting the registration form then PayEezz form looks, again, cumbersome. Even the PayEezz form requires me to visit bank branch and get my signature attested.

So my question is, is it worth to do all the running around to get MFutil going or I should go ahead with Invezta? Any first had experiences with MFutil, especially with regards to investing and not just looking at your scheme performance?
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Old 3rd March 2016, 20:37   #1054
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I have been invested in 5 different SIP plans for 41 months now. All are doing good to average but HDFC Top 200 has been the laggard when compared to others. The returns from rest all are around 15-40 %( simple intrest). But this one has pretty less and currently less than 5%. When I started all these plans this was one of the best but except for the first year this has been underperforming. Should I wait more ? What needs to be the future paln of action. I am pretty pateint as far as investements go and am really planning towards having a big corpus when I retire. The problem here is I have a feeling that I can invest that amount in some other SIP which is performing better. Gurus please enlighten
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Old 3rd March 2016, 21:14   #1055
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Default Re: The Mutual Funds Thread

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I have been invested in 5 different SIP plans for 41 months now. All are doing good to average but HDFC Top 200 has been the laggard when compared to others. The returns from rest all are around 15-40 %( simple intrest). But this one has pretty less and currently less than 5%. When I started all these plans this was one of the best but except for the first year this has been underperforming. Should I wait more ? What needs to be the future paln of action. I am pretty pateint as far as investements go and am really planning towards having a big corpus when I retire. The problem here is I have a feeling that I can invest that amount in some other SIP which is performing better. Gurus please enlighten
Confusion regarding Top 200 is on a lot of people's minds and you're not alone.

IMHO, being tied to the reputation of the fund manager for too long is not good enough.

Top 200 has been underwhelming for quite some time now, and if you're looking towards aggressive growth for a big corpus, I'd move out and into a new fund if I were you.

I don't know your entire situation of course, so it's just a suggestion and you should move ahead after due diligence.

I'd move out if I were you, though.

Cheers

Last edited by Parth46 : 3rd March 2016 at 21:16.
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Old 4th March 2016, 11:36   #1056
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Confusion regarding Top 200 is on a lot of people's minds and you're not alone.
What should be the best way to take the money out?

-- Stop the monthly deposit and slowly move the money over a period of 2-3 years so that I give the money to grow little further. Currently its like some 2 K more than the value actually invested

-- Take the money out completely when ever the returns become better. There has been instances in the past where the corpus was more than 10% of the actual value invested. Park it and keep investing in a better fund whenever market is down.

I really do not want to hurry and make mistakes. Even if there are chances of this fund recovering I can continue for some more time.

Last edited by ampere : 4th March 2016 at 12:15. Reason: Reduced quoted section
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Old 4th March 2016, 17:18   #1057
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What should be the best way to take the money out?

I really do not want to hurry and make mistakes. Even if there are chances of this fund recovering I can continue for some more time.
I'd pull out the fund corpus now if it's in the green, and deploy it elsewhere in a better fund. Do take out units in a staggered manner only those >365 days old to avoid STCG tax.

I wouldn't wait on this fund to get back up, but like I said earlier please do your due diligence to see if this approach would work for you.

You can take out the entire amount in this or, or withdraw in small batches, or even wait slightly to just get a feel - whatever works best for YOU.

all the best.
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Old 5th March 2016, 09:23   #1058
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Default Re: The Mutual Funds Thread

In a way the budget gives further fillip to the MFs. The additional taxation on Dividend Income above a threshold (I think ₹1 million) is not applicable to MF income.
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Old 7th March 2016, 00:28   #1059
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Originally Posted by shipnil View Post
Guys, I currently use Fundsindia for all my mutual fund investments. After reading all the discussions in this thread, I am thinking of moving the investments into direct schemes over a period of time. But the one thing I dislike the most is having to invest through individual websites of mutual funds as managing them becomes cumbersome.

So I was thinking of MFutil or Invezta. Invezta would again involve some fee while MFUtil would not. But the intial process of MFutil of submitting the registration form then PayEezz form looks, again, cumbersome. Even the PayEezz form requires me to visit bank branch and get my signature attested.

So my question is, is it worth to do all the running around to get MFutil going or I should go ahead with Invezta? Any first had experiences with MFutil, especially with regards to investing and not just looking at your scheme performance?

I manually add my investments on ValueResearch's Portfolio tool.
It takes time to add all of the scattered investments, but then it is worth it in the long run.
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Old 7th March 2016, 00:48   #1060
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Default Re: The Mutual Funds Thread

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Guys, I currently use Fundsindia for all my mutual fund investments. After reading all the discussions in this thread, I am thinking of moving the investments into direct schemes over a period of time.
Move to MyCAMS-simple and efficient and apart from mirae and taurus and i think icici pru. all other funds can be bought/sold/switched/systematic txn's. One time sign up no forms required.

same with karvymfs however that's a two step process.
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Old 7th March 2016, 12:07   #1061
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Default Re: The Mutual Funds Thread

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So I was thinking of MFutil or Invezta. Invezta would again involve some fee while MFUtil would not. But the intial process of MFutil of submitting the registration form then PayEezz form looks, again, cumbersome. Even the PayEezz form requires me to visit bank branch and get my signature attested.

So my question is, is it worth to do all the running around to get MFutil going or I should go ahead with Invezta? Any first had experiences with MFutil, especially with regards to investing and not just looking at your scheme performance?
I have recently applied for a CAN via MFU - though the process might look complex, it is very straightforward. You just need to visit the nearest PoS. I called the MFU Customer care multiple times before reaching the PoS. I also had questions about the PAyeez - and even visited the bank in vain since they needed some details like utility code which I didnt have. Finally on speaking to the Customer care again, they told me that there is no need for the bank attestation; wonder why they made the form like that
And though the PoS lady told me that I cannot make any investment until I have Payeez, the customer care told me otherwise - and Payeez is really mandatory only for the SIP.

The good thing with the CAN is that it auto-aggregates the folios with participating fund houses you have been investing in over many years and gives you a single view. The interface is very simple and might leave a lot to be desired, but it is quite functional for basic transactions. So irrespective of Payeez, I would strongly recommend to go ahead with applying for a CAN. But note that you need mupltiple CAN depending on the applicants and the nature of holding.

If you have questions call up the customer care; they are quite helfpul.

Note that I have not yet received by Payeez details - so hopefully it is still under process.
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Old 7th March 2016, 14:30   #1062
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I have recently applied for a CAN via MFU - though the process might look complex, it is very straightforward. You just need to visit the nearest PoS. I called the MFU Customer care multiple times before reaching the PoS. I also had questions about the PAyeez - and even visited the bank in vain since they needed some details like utility code which I didnt have. Finally on speaking to the Customer care again, they told me that there is no need for the bank attestation; wonder why they made the form like that
And though the PoS lady told me that I cannot make any investment until I have Payeez, the customer care told me otherwise - and Payeez is really mandatory only for the SIP.

The good thing with the CAN is that it auto-aggregates the folios with participating fund houses you have been investing in over many years and gives you a single view. The interface is very simple and might leave a lot to be desired, but it is quite functional for basic transactions. So irrespective of Payeez, I would strongly recommend to go ahead with applying for a CAN. But note that you need mupltiple CAN depending on the applicants and the nature of holding.

If you have questions call up the customer care; they are quite helfpul.

Note that I have not yet received by Payeez details - so hopefully it is still under process.
Thanks execve!

So PoS does not need bank attested PayEezz form. My bank is SBI and I was not very hopeful if they'd attest the form.

Lumpsum investments can be done without PayEezz, like any netbanking transfers as long as one has CAN?
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Old 7th March 2016, 17:23   #1063
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Thanks execve!

So PoS does not need bank attested PayEezz form. My bank is SBI and I was not very hopeful if they'd attest the form.

Lumpsum investments can be done without PayEezz, like any netbanking transfers as long as one has CAN?
Yes, they don't. But as said, I have not yet received by Payeez confirmation (PRN?) yet.

You will get a CAN within a day or two and then you need to request for online access. That also takes a day or so.

Lumpsum investments are made in two steps: 1) make your intended purchase on MFU - they provide you a virtual A/C number 2) YOu add the virtual A/C as a NEFT PAYEE in your bank a/c - and make the transfer.

So the first time it takes a bit of extra time - and not like a single click purchase; but still better than logging into multiple MF portals etc.
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Old 14th March 2016, 20:13   #1064
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Default Experience with mfutil

As stated couple of posts earlier, I am fundsindia user who wished to try mfutil. Below in my experience.

After submitting the documents at Karvy POS, the CAN was generated and was sent to mobile on the same day. Creating a CAN does not give online access by default. So I sent a mail from registered email id to them. By next day evening, the online access too was enabled.

For doing single purchase/switch/redeem transactions, no need to register Payeezz. Netbanking is available for that.

Regarding the interface, well, it is very basic compared to fundsindia. It just lists all the AMC, folio nos. and no. of units. No current value, no purchase value, no returns over the period nor short term / long term tax. Fundsindia has this on their main page. It is quite useful but then you pay by trailing commission.

Also, not all AMCs are there. Some of my investments were not aggregated by the CAN as those AMCs are not participants in MF Util.
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Old 15th March 2016, 09:03   #1065
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Default Re: The Mutual Funds Thread

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IMHO, being tied to the reputation of the fund manager for too long is not good enough.
I was wondering what happened to one of long term favorites HDFC Equity. I was discussing with some experts, the reason that most of Prashant jain's funds are languishing is that he apparently took a long call on PSU banks which has not panned out.
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