[sandhyab]

Originally Posted by pradkumar

I am reasonably happy with MF Utilities.

https://www.quora.com/I-heard-about-...d-transactions

Pradeep

Thanks Pradeep, I did try creating a CAN yesterday night on MF utilities, but their upload facility is broken, will try again in a few minutes

[sansvk]

Originally Posted by adi.mariner

Thanks sansvk for the advice.
It's a combination of equity and hybrid funds. No pure debt funds as such. The SIPs which are ongoing are the better performing funds in their categories. Considering the market is at its peak right now, I am a bit apprehensive about selling my old funds and buying lumpsum now.

As a fellow investor I have had the same behaviour issues such as the disposition effect - keeping the losers, FOMO - what if the markets scales newer peaks and Timing the market.
Keeping and managing 15 odd equity funds is not optimum in terms of returns.
One way to filter out is to check the overlap between funds in the same category. Example use 'thefundoo.com' and you may find your funds having 50 + % overlap, here you may retain your better performing ones and sell the other.
Move the proceeds to a debt fund and perform a STP over next 1 or 2 years. This would also ensure you have enough cash at hand to invest if there is a correction. Investing a lumpsum is not suggested.

[SilentEngine]

Originally Posted by sandhyab

Can you tell me few of such recommended platforms??

I have used CAMS in the past. Zerodha Coin is another, though I have not used it.

[adi.mariner]

Originally Posted by sansvk

use 'thefundoo.com' and you may find your funds having 50 + % overlap, here you may retain your better performing ones and sell the other.

Thanks a lot for the advice. Will surely have a look at the website and check the overlap. I guess STP is the way to go rather than going for a lumpsum investment.

[anandhsub]

Originally Posted by sandhyab

Can you tell me few of such recommended platforms??

I use MFUTILITIES which is a joint platform by all AMCs.

I used CAMS before but was forced to shift because they now have a monthly 10lakh redemption limit which is annoying because one invests in mutual funds for the ease of withdrawal when one has large commitments.

[Miyata]

Originally Posted by SmartCat

Hot Commodities by Jim Rogers is the best book for learning how to invest in commodities based on fundamentals.

Thanks, Smartcat for the detailed reply. Much appreciated. Will get hold of the book. Apologies for the late reply. Was out of town and did not get a chance to login earlier.

[bluevolt]

One of my friend is moving to US for onsite assignment on L1 visa for roughly 5 years (including extensions).

What all needs to be done with respect to his mutual fund SIPs. Should they be stopped and redeemed?

MS houses are ICICI, SBI, Birla and Axis.

[Latheesh]

I have a bad habit of keeping money in my savings account. I want to move it to debt fund and I do not need it for next 5 years. Which is the fund I should look for? I can move the money over next few months to the fund. Aim is to earn slightly better return than FD and tax benefits (I fall in 30% tax slab).

Should I look for Ultra short term or Short term fund?

.

[S_U_N]

Originally Posted by bluevolt

One of my friend is moving to US for onsite assignment on L1 visa for roughly 5 years (including extensions).

What all needs to be done with respect to his mutual fund SIPs. Should they be stopped and redeemed?

MS houses are ICICI, SBI, Birla and Axis.

I was advised by one CA that when you become NRI, you should stop the SIP's.

I moved overseas in September and my SIPs have come to an end now in December (I expect not to land into trouble due to 3 months.)

Towards the mutual fund houses, a re-KYC needs to be done to change the status from RI to NRI. This requires providing overseas address proof (and some other documentation such as NRO account cancelled cheque.)
So, the existing portfolio which was from Indian income remains linked to the savings account which was used to do the investment and where, after redemption (if desired), the amount gets credited to, thereby separating the foreign earned income from Indian income.

Then there is the topic of DTAA between US and India that comes into play and when exactly your friend would be tax resident in US. This is something that needs further evaluation with someone knowledgeable.

[bullrun87]

Originally Posted by Latheesh

I have a bad habit of keeping money in my savings account. I want to move it to debt fund and I do not need it for next 5 years. Which is the fund I should look for? I can move the money over next few months to the fund. Aim is to earn slightly better return than FD and tax benefits (I fall in 30% tax slab).

Should I look for Ultra short term or Short term fund?

.

You should choose corporate bond funds, banking and PSU debt funds and short term funds that invest in high quality papers. Look for funds from SBI, IDFC, kotak and ICICI AMC's. These AMC's have managed the credit crisis well and have large AUM's and well diversified funds in these categories. Alternatively you could also choose conservative hybrid funds and equity savings funds if your horizon is 5 years. These funds will give you a small kicker from equities in your returns.

[SoumenD]

I have been using HDFC & ICICI Direct as platforms for investing in mutual funds since last 2.5 years. HDFC allows direct MF investments so its fine. But ICICI Direct allows only regular plans and am ending up paying them a lot of fees. So am planning to switch to some platforms like Kuvera or PaytmMoney for direct MF investments.


Current portfolio looks something like this:
1. Via ICICI Direct - ICICI bluechip regular(7% return currently), SBI bluechip regular(9% return), L&T Small emerging business fund(-8%)
2. Via HDFC MF house - HDFC hybrid fund(7% return)


All investments have been via SIPs since last 2.5 years. Am reaching mid-30s soon, so mine is mostly long term goal(read retirement). Investment horizon of 15 years.


Queries/Doubts :

1. Is it possible to swicth from ICICI direct regular MFs to kuvera's direct MFs without any financial/tax implications? Or is it better to redeem the funds in ICICI Direct & start afresh in Kuvera separately?
2. If redeeming what's the tax implication & exit load like typically?
3. And what's the best platform to start investing in direct MFs?

[carboy]

Originally Posted by SoumenD

1. Is it possible to swicth from ICICI direct regular MFs to kuvera's direct MFs without any financial/tax implications? Or is it better to redeem the funds in ICICI Direct & start afresh in Kuvera separately?
2. If redeeming what's the tax implication & exit load like typically?
3. And what's the best platform to start investing in direct MFs?

1. No, it's not. You need to sell & buy.



2. Tax implication is whatever is the tax implication for selling which depends on whether it's a debt MF or equity MF. It will be treated as regular MF sale


3. If find MFUtility to be the best. It's the platform provided by the AMCs themselves together.

[Pancham]

Hi guys. Have a query.

I missed one of my SBI SIP payments. The amount gets debited from my SBI account which I hardly use and usually does not have any balance. So I transfer the SIP amount from my main account to this account every month. However, I forgot to transfer the amount this month. I can see a CERSAI fee debited. What is the next step?

[saket77]

Originally Posted by Pancham

Hi guys. Have a query.

I missed one of my SBI SIP payments. The amount gets debited from my SBI account which I hardly use and usually does not have any balance. So I transfer the SIP amount from my main account to this account every month. However, I forgot to transfer the amount this month. I can see a CERSAI fee debited. What is the next step?

You don't have to take any. The debit you see in that account is the penalty for dishonoring the installment and is charged by the bank. Not sure about SBI, but most AMCs would cancel the SIP if you miss 3-4 payments in a row. One exception is Franklin. Trust that helps.

Regards,
Saket

[Pancham]

Originally Posted by saket77

You don't have to take any. The debit you see in that account is the penalty for dishonoring the installment and is charged by the bank. Not sure about SBI, but most AMCs would cancel the SIP if you miss 3-4 payments in a row. One exception is Franklin. Trust that helps.



Regards,

Saket

So everything remains as it is and they deduct the next instalment in the following month?