[pradkumar]

https://youtu.be/1xNvPuUEyXQ

[mayuresh]

Originally Posted by skumare

I think MFCentral is becoming more user friendly (relative to MFU). However, MFU recently introduced virtual account number (common across all MFs), wherein you confirm a buy order on MFU and do NEFT/RTGS to this account number by 2PM, you will get you same day NAV.

Unfortunately MFU doesn't guarantee the same day NAV. I have faced issues with the flow where AMC claims they received funds at 4:15pm when the "PA to RTA" timestamp recorded in MFU system is 10:30am. While it may not be such a big deal, I'd prefer if the whole process is predictable and you can track the cashflow easily with same day NAV.

BTW I am a long term user of MFU, largely happy despite their quirky UIs. Now I am witnessing the quality of service nosediving of late. They do have a helpdesk system where the tickets are tracked to closure. But one of the most idiotic things they do is "Re-Assign to AMC". With this MFU simply goes out of picture disowning all the responsibility, even if the issue was with MFU's system. The AMCs want some information from MFU, but when they respond they just change the status to "Resolved" with some message meant for MFU reaching the investor instead. And if you don't check, you won't even know that the ticket has been changed to "Resolved" state - thus nobody is tracking it. Really, really pathetic.

Highlighted this to them a few times. No use.

Also, if you are scheduling an NEFT to trigger on the same day as your order, beware. If your bank is efficient enough to process scheduled NEFT early such as before 7am, MFU system simply rejects (refunds) your payment and then sends you a mail that payment was not received. Fought hard with them on this. But looks like they are not willing to accept that this is an issue.

There is a big change in their attitude compared to the early days. May be Ramesh's exit has left some undesirable impact on MFU.

[concorde24]

Originally Posted by mayuresh

Unfortunately MFU doesn't guarantee the same day NAV. .

I have tried the NEFT option which is recently enabled in MFU 3 times and all times got the same day NAV. I think, they require the transfer to be complete 1 hour before cut off time and remember NEFT also works in 30- min slots.

So it it will better if we can initiate NEFT by 1:30pm, so that NEFT reaches MFU by 2pm and MFU can route to RTA by 3pm.

[mayuresh]

Originally Posted by concorde24

I have tried the NEFT option which is recently enabled in MFU 3 times and all times got the same day NAV. I think, they require the transfer to be complete 1 hour before cut off time and remember NEFT also works in 30- min slots.

So it it will better if we can initiate NEFT by 1:30pm, so that NEFT reaches MFU by 2pm and MFU can route to RTA by 3pm.

I know, in many cases it works. Just that there is no guarantee. As I said, in one case it did not work for a transfer at 10:30am.

There is also the problem of "scheduled NEFT" getting rejected if the bank processes it earlier than when MFU systems wake up. That is a completely artificial and unnecessary bottleneck MFU themselves have created. There is no business / compliance reason for them to do so.

[Samfromindia]

Originally Posted by mayuresh

BTW I am a long term user of MFU, largely happy despite their quirky UIs. Now I am witnessing the quality of service nosediving of late.

Originally Posted by concorde24

I have tried the NEFT option which is recently enabled in MFU 3 times and all times got the same day NAV. I think, they require the transfer to be complete 1 hour before cut off time and remember NEFT also works in 30- min slots.

Good to know other users of MFU. In past I used to pay by PayEezz, then switched to UPI. However for bigger transactions over 1L, I use Internet Banking. For some reason I always found MFU to postpone NAV date by 1 day even if I pay in 1st half.

Anyways these days I am using Groww mostly to manage stocks. Was using ICICI Direct before, however my individual stock holding is not much to warrant for a paid trading / demat A/C. I love the UI and simplicity of Groww and use it to track my MF as well, by importing external funds feature. Maybe someday I will stop MFU and move to Groww for MF as well.

[mayuresh]

Originally Posted by Samfromindia

Maybe someday I will stop MFU and move to Groww for MF as well.

Do they have same day NAV? For that matter, is there any option with same day NAV, particularly with scheduled orders? I'd like to switch, totally fed up of MFU's "new DNA" - which is more of "my way or highway".

[SoumenD]

Got this mail on 20th Dec,2022. Now Motilal Oswal has opened all options for investing in international funds from Jan 1st,2023. Dec 1st,2022 onwards only lumpsum with a 2L/month/pan was allowed but now no more limits.

Don’t think RBI has increased the limit yet but probably the falling market has brought the investment value well under the limit, allowing AMCs to take fresh investments.

[mayuresh]

Originally Posted by Samfromindia

For some reason I always found MFU to postpone NAV date by 1 day even if I pay in 1st half.

Wonder if anybody familiar with the finance industry can confirm this.

Why don't AMCs create a virtual account for each folio-fund combination, at least on demand. Investors can NEFT to it and then there is no need of complex intermediary procedures, filling of forms (even electronic) and all the chaos about NAV date that is going. No pooled accounts either -the money goes directly to the specific fund's account.

This is not a hypothetical solution. NSDL has implemented this very effectively for NPS - a very high volume scheme. If you wish you can get a virtual account number for your PRAN and just NEFT to it before cut-off and you get same day NAV.

Scale can't be an issue as NPS has shown. As such virtual a/c no is just a number that identifies an investor and the scheme - which any other solution anyway does but in a roundabout way.

Can't MF industry learn from this example?

[Pancham]

Guys, any update on Mirae Asset Emerging Bluechip? Have they lifted the maximum INR 2,500 SIP cap? I have one SIP currently with them and was thinking of investing a little more. Can I do that?

[praveen789]

Originally Posted by Pancham

Guys, any update on Mirae Asset Emerging Bluechip? Have they lifted the maximum INR 2,500 SIP cap? I have one SIP currently with them and was thinking of investing a little more. Can I do that?

still the same:

https://www.miraeassetmf.co.in/mutua...-bluechip-fund

[thirugata]

Facts & Figures of major indices for 2022

Nifty 50: Nifty gave an annual return of +4.13% & it closed 4.14% lower than the year's high and 19.25% higher than the year's low. It had 5 +ve and 7 -ve months this year.

Nifty Next 50 (NiftyJr): NiftyJr gave an annual return of -0.32% & it closed 7.3% lower than the year's high and 20.47% higher than the year's low. It had 6 +ve and 6 -ve months this year.

Nifty Midcap 100: CNX Midcap100 gave an annual return of +3.35% & it closed 4.34% lower than the year's high and 25.79% higher than the year's low. It had 6 +ve and 6 -ve months this year.

Nifty Smallcap 100: CNX Smallcap100 gave an annual return of -14.17% & it closed 19.22% lower than the year's high and 23.1% higher than the year's low. It had 5 +ve and 7 -ve months this year.

Note: Nifty has given +ve return for 7 consecutive calendar years, longest ever beating 2002 - 2007 period. However, % return of 2002 - 2007 period was much higher.

===============================================

Of the above 4 indices last to come into existence is CNX Smallcap 100 which started in Jan 2004. Hence 01/04/2004 has been chosen as the starting point for the below calculation.

If one had invested Rs 1000 each on Jan 01, 2004 in all above indices, that amount as on 31/12/2022 (19 years) would be as follows:

Nifty 50: 9,090 Rs
NiftyJr : 11,810 Rs
CNX Midcap100: 12,420 Rs
CNX Smallcap100: 8,650 Rs

Hope this information will help you in making sound investment decisions.

[SmartCat]

Look what I found:

Mirae Asset Global Electric & Autonomous Vehicles ETFs FoF - Direct Plan
https://www.valueresearchonline.com/...fund-portfolio

It invests in 3 ETFs:



To see what stocks are held, Google the above names and append the search phrase with the word 'portfolio'

[shipnil]

Guys, need help with investments in the name of Minor child.

I have browsed the net and it is possible to invest in the name of Minor while submitting PAN of guardian. But the thing is I was unable to find any online site that allows to do it. I do not wish to visit the CAMS/Karvy offices as they are too far away and I'd end up wasting half a day. Have any one of you invested online in the name of minor? If yes, kindly advise.

[saket77]

Originally Posted by shipnil

Guys, need help with investments in the name of Minor child.

I have browsed the net and it is possible to invest in the name of Minor while submitting PAN of guardian. But the thing is I was unable to find any online site that allows to do it. I do not wish to visit the CAMS/Karvy offices as they are too far away and I'd end up wasting half a day. Have any one of you invested online in the name of minor? If yes, kindly advise.

It is possible but I do not see any advantage. On the contrary, this is an unnecessary complication in my view, and leads to more problems than solution. Just curious to ask, why do you want to go through this route?

[shipnil]

Originally Posted by saket77

Just curious to ask, why do you want to go through this route?

Well, the source of funds are from Grand Parents to the Grand Daughter. Hence I wanted to directly invest it in the name of the child.