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Old 9th March 2012, 20:22   #121
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Default Re: The Mutual Funds Thread

A 0.75% CRR cut shows recognition of poor liquidity. Should send up Debt fund yields.
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Old 11th March 2012, 18:45   #122
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Default Re: The Mutual Funds Thread

These days if You are KYC Verified Then You can actually buy mutual funds online and redeem them online as well. This is an excellent feature as it frees You of the trouble of going to the offices of each and every single mutual fund office to redeem them. Your online demat account can purchase and sell your mutual funds. Hence here You can consolidate all your mutual fund investments in one place itself. Do make use of This facility.
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Old 12th March 2012, 09:50   #123
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Default Re: The Mutual Funds Thread

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This is an excellent feature as it frees You of the trouble of going to the offices of each and every single mutual fund office to redeem them. Your online demat account can purchase and sell your mutual funds. Hence here You can consolidate all your mutual fund investments in one place itself. Do make use of This facility.
Only the depository will change you for holding the DEMAT. I prefer to use my bank which handles almost all MFs excl SBI, LIC and one or two others.
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Old 21st March 2012, 23:33   #124
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Default Re: The Mutual Funds Thread

Something weird.

I gave a redemption request for a Mutual Fund.
Received email that its successfully processed.

In my bank account the amount has been credited via direct debit and immediately revoked.

So I have 2 lines in my account statement.
One line credits the amount and the other removes it.

What is the meaning of this?
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Old 22nd March 2012, 05:07   #125
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Default Re: The Mutual Funds Thread

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So I have 2 lines in my account statement.
One line credits the amount and the other removes it.
This can only happen if there is a HOLD from the Mutual Fund AMC's Bank Account. Never happened to me, but remember discussing this with someone. In that case it was because the amount was big and the depositors bank gave a 24Hr HOLD on the credit (Not sure why?)

Now in Citibank i have noticed that they send an SMS that the amount has been deposited and is on a 24Hr HOLD, so i can see that entry in my account, but the balance does not change, so effectively making that amount inaccessible for 24Hrs.

Did you tried calling them and asking, what's going on?

Last edited by mayankjha1806 : 22nd March 2012 at 05:09.
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Old 22nd March 2012, 10:53   #126
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Default Re: The Mutual Funds Thread

Thanks Mayank.

But I got an update from the mutual fund house.


The bank account is in my wife's name. The mutual fund in my name.
So the bank rejected the transfer.

Now I need give the mutual fund house a cancelled check for any account in my name. They will complete the transfer after this.
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Old 22nd March 2012, 11:43   #127
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Default Re: The Mutual Funds Thread

I think there was something funny going on yesterday. I made a NEFT request for Rs.15,900 from StanC to PNB. It was debited, but then the money came back with rejected flag. Looks like the IBFT was playing up.
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Old 22nd March 2012, 11:45   #128
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Recently I was checking out the monthly statements of Mutual funds where I have the SIP facility and most of them had the redemption payout mode as Cheque rather than NEFT although I had mentioned the bank account no and the IFSC code specifically in the application form. Upon enquiry I was told that the bank where I have the account was intially not in the list of banks with whom the MF have the NEFT facility. However since they do now they would need a request to be raised for the same. Now all the MF statement show NEFT as redemption payout mode except Reliance which still does not have SBI in the bank list. Suprising. Reliance would send the cheque 7 days after redemption request and another 3 days to get credited into account. So total 10 days gone in the process which should have taken not more than 3 days thru NEFT.
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Old 22nd March 2012, 14:28   #129
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Default Re: The Mutual Funds Thread

Any recommendations on short term debt or liquid funds?
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Old 22nd March 2012, 15:00   #130
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Default Re: The Mutual Funds Thread

@ghodlur; This was they get to use your money for another 10 days or so. I am glad that Reliance s one MF I steer clear of. Neither trusted the dad nor do I do sons.

Incidentally, I put in the same NEFT today and it went through straight.
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Old 22nd March 2012, 16:01   #131
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Default Re: The Mutual Funds Thread

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Any recommendations on short term debt or liquid funds?
HDFC Cash Management Savings Fund
Birla Sunlife Floating Rate LT Fund

Both have offered around 8 - 9% in the last one year. The next year too should offer similar returns, because liquidity is still tight in the markets.
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Old 22nd March 2012, 16:35   #132
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Default Re: The Mutual Funds Thread

I have an oddball fund in Franklin Templeton Dynamic PE FoF. Normally I do not like FoFs since there is an additional overhead. However, here you expect to get the best of both debt and equity with a constantly varying ratio. The pay-off comes in long term capital gains with all its benefits.

For debt / liquid funds IDFC can also be good. remember originally Grindlays made their name in debt!
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Old 22nd March 2012, 16:46   #133
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I have an oddball fund in Franklin Templeton Dynamic PE FoF. Normally I do not like FoFs since there is an additional overhead. However, here you expect to get the best of both debt and equity with a constantly varying ratio. The pay-off comes in long term capital gains with all its benefits.
What's constantly varying ratio? How does that work? They invest some percentage in equity funds and some in debt funds, and then let the debt/equity market movements decide on the ratio?
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Old 22nd March 2012, 20:19   #134
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Default Re: The Mutual Funds Thread

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What's constantly varying ratio? How does that work? They invest some percentage in equity funds and some in debt funds, and then let the debt/equity market movements decide on the ratio?
The fund house constantly changes the debt/equity allocation based on market conditions. It can vary from 0-100%

@sgiitk : correct me if i am wrong
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Old 23rd March 2012, 09:22   #135
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Default Re: The Mutual Funds Thread

Let me add a bit. To qualify for an Equity Based MF the Equity content has to be above 65% (or is it 60). Then in a crash like 2008/09 to maintain the ratio they have to continue moving money into Equity, now over bright!

The FT DPEF is a FoF which invests in Blue Chip and TIIF which are 5* and 3* on Value Research. It rebalances the ratio once a month. So if you invest, take the growth option, then whenever you withdraw (>1 year) you get the benefit of Long Term capital Gains and/or Indexation.
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