Team-BHP - The Mutual Funds Thread

Hi,

This is a question for the MF Utilities veterans.

They seem to have discontinued the MFU E-Collection Escrow Account with Kotak bank. Is that correct?

What payment mode should one use to get the same day NAV? This was earlier supported with the MFU E-Collection Escrow Account.

Detailed instructions would be helpful.

Thank you,

Pradeep

Quote:

Originally Posted by pradkumar (Post 5295937)

They seem to have discontinued the MFU E-Collection Escrow Account with Kotak bank. Is that correct?

Not sure what you mean by discontinued. I haven't received any communication to this effect. I have two MFU accounts enrolled with my CAN. One with Kotak and another with ICICI. Just last month I have had couple of RTGS investments routed through them. One through each. Both of them processed the investments.

But yes, I don't see any details listed anymore on MFU site about any of these accounts.

Update: Indeed they have stopped it. Re-checked just now and NEFT/RTGS is not available anymore. So I guess UPI it is, if investing amounts lesser than 2L.

Quote:

Originally Posted by shipnil (Post 5296200)

Update: Indeed they have stopped it. Re-checked just now and NEFT/RTGS is not available anymore. So I guess UPI it is, if investing amounts lesser than 2L.

Very surprising that they have not advised the customers. All in our family use MFU kotak bank for NEFT/RGTS for subscription to a fund. None of us have received any communication?

edit: The log in 2FA is tricky. One needs to push the "send" button to get an OTP. Does not come automatically as with other portals.

Thanks for the confirmation. I have downloaded the BHIM UPI app on my phone. I will try out a small transaction tomorrow using that on the MF Utilities site. Let me see how it goes.

Quote:

Originally Posted by shipnil (Post 5296200)

Update: Indeed they have stopped it. Re-checked just now and NEFT/RTGS is not available anymore. So I guess UPI it is, if investing amounts lesser than 2L.

Quote:

Originally Posted by earthian (Post 5296221)

All in our family use MFU kotak bank for NEFT/RGTS for subscription to a fund.

Quote:

Originally Posted by pradkumar (Post 5296230)

I have downloaded the BHIM UPI app on my phone.

On MFU, UPI is only marked as T / T+1. So no guarantee of getting day T NAV. In fact I had done one small investment on 31st March. I should have got NAV of 31st or 1st April. But I got NAV of 4th. When I complained, they said there is some aggregator in between who has to confirm the receipt and since that intermediary confirmed late, I got NAV of 4th. Nothing is clear.

So while on the topic of depositing money and getting same day NAV, I explored few options on the fundhouse websites. Some fund houses like PPFAS have NEFT/RTGS option and Netbanking. The netbanking supposedly gives day T NAV. I am not sure how, as netbanking usually is processed through entities like billdesk who take 1 day to process.

SBI MF too has NEFT/RTGS mentioned on the website. But their website does not explicitly say what day NAV you'd get.

I suppose only if you are doing a big lumpsum investment, the same day NAV would matter.

If we go through individual fund house websites for investing, the convenience of having all your investments at one place like MFU is lost. MFU might still be able to aggregate the folios to give consolidated view, though.

Quote:

Originally Posted by vijaykr (Post 5293294)

While they might not charge anything from the investors, as with all platforms, they are collecting/tracking data of their investors.

So I did mailed to Kuvera support for an answer. Below is response. The One in bold is reassuring IMO. :thumbs up

Quote:

Hi Sushil Kumar,

Thanks for your message

Kuvera.in is truly free. There are no fees, no AUM linked charges, and no hidden commissions. There are no upper limit on how much you can invest, for free.

We help you invest only in Direct Plans of Mutual Funds so, commissions never enter the picture.

When you place an order; funds go from your bank to exchange, and finally to AMC. When you redeem, redeemed amount comes from AMC, directly to your bank. At no point, your money gets routed through any of our bank accounts.

See this link for better understanding: https://kuvera.in/pricing

You've access to all features including Risk Profiling, Goal Planning, Investment Recommendations, Transaction Execution and Portfolio Monitoring - we offer these for free to all users on our platform.

Everything you want in an investing platform is already there. Plus, if you need any features, let us know and we will prioritize them for future release.

We're very transparent about our pricing. What you see is what you get.

We'll eventually launch paid advisory services; and we'll be upfront about those charges. But all features that are already available for free, will remain free.

There is no capping on how much you wish to invest.

Kind Regards,
Simran Gutka
Customer Excellence | Kuvera.in

Quote:

Originally Posted by shipnil (Post 5296602)

So while on the topic of depositing money and getting same day NAV, I explored few options on the fundhouse websites. Some fund houses like PPFAS have NEFT/RTGS option and Netbanking. The netbanking supposedly gives day T NAV. I am not sure how, as netbanking usually is processed through entities like billdesk who take 1 day to process.

I recently invested in ppfas (I use a different app for MF investments - piggy) and can confirm that i was allocated T NAV.
Had to do a NEFT to an India Clearing House account and place an order via the app - I'm not sure how they reconcile this information, but it was a seamless experience.

I have SIPs in Motilal Oswal S&P 500 and NASDAQ FoF too and since April month, the SIPs have been paused from the fund house's side due to the SEBI limit thing. There is no notice or information on when SIPs will resume. Due to this, my investment in US Market has stopped.
What other options in terms of mutual funds are available wherein I can invest in the meantime similar to S&P500 or so?

Quote:

Originally Posted by .sushilkumar (Post 5297591)

So I did mailed to Kuvera support for an answer. Below is response. The One in bold is reassuring IMO. :thumbs up

Yes, they clearly mention that you do not need to pay anything to use their services currently. But my point was different in that they can track all investments made on their platform, which AMCs and funds, how much amounts, whether SIP or lumpsum etc. Since you may have likely provided your details initially as part of your account setup, they can tie investments to demographic info. Aggregating this across all investors on their platform could provide them valuable insights. It is not that this is bad, but just that what appears to be free may not really be

Quote:

Originally Posted by raksrules (Post 5297607)

Due to this, my investment in US Market has stopped.
What other options in terms of mutual funds are available wherein I can invest in the meantime similar to S&P500 or so?

Since the SEBI limit applies to all AMCs, I don't believe there is any option of an MF that can invest into US securities. Even PPFAS Flexicap fund should now be investing 100% into Indian market only.

Quote:

Originally Posted by raksrules (Post 5297607)

You can check out the Navi Total US Fund.

More details here

Quote:

Originally Posted by shipnil (Post 5296602)

On MFU, UPI is only marked as T / T+1. So no guarantee of getting day T NAV.

So while on the topic of depositing money and getting same day NAV, I explored few options on the fundhouse websites. Some fund houses like PPFAS have NEFT/RTGS option and Netbanking. The netbanking supposedly gives day T NAV. I am not sure how, as netbanking usually is processed through entities like billdesk who take 1 day to process.

SBI MF too has NEFT/RTGS mentioned on the website. But their website does not explicitly say what day NAV you'd get.

SBI MF gives you the NAV value of the same day for both Netbanking and NEFT (provided the NEFT transaction gets cleared before 2:30 or so of that day). However, I did an NEFT transaction once that didn't go through and I had to wait for 2-3 days to get back the amount in my bank account, and then had to start all over again.

Quote:

Originally Posted by raksrules (Post 5297607)

kotak nasdaq 100 fund is open. Anyway the limits should be revised after LIC IPO. Also the limit on overseas investment is on MFs investing directly and not via ETF. I think Kotak invests in ETF of another fund house hence spared.