[concorde24]

Originally Posted by mayuresh

Once a strong supporter and admirer of MFU, I am now totally fed up of them and will be moving elsewhere.

Fully agree with you, I am also in same boat. MFU is focusing towards MFD's and not towards retail users.

I don't want to transact at multiple MF websites which itself is a pain.

1) MF Central does portfolio value limit (not sure why they still have it) and no transaction possible above this limit
2) MFU - not user friendly, no good analysis of invested/current value etc
3) Cams/Karvy website - I will need to try this
4) Other websites like Kuvera, ETMONEY etc. I have not used them till now but might need to evaluate other options

[warrioraks]

Originally Posted by concorde24

4) Other websites like Kuvera, ETMONEY etc. I have not used them till now but might need to evaluate other options

I use Groww, it's pretty good.

[mayuresh]

Originally Posted by concorde24

1) MF Central does portfolio value limit (not sure why they still have it) and no transaction possible above this limit

Yes that is ridiculous and hopefully it will improve. But you can use MFU for those odd clerical jobs and use MFC for transactions.

MFU has strived hard to reduce its own worth to be good for only these jobs!

Originally Posted by concorde24

2) MFU - not user friendly, no good analysis of invested/current value etc

Newly acquired hostile attitude towards retail investors.

Originally Posted by concorde24

3) Cams/Karvy website - I will need to try this

There is 'mycams' by CAMS. But you'll find some similiarites between 'mycams' and MFC. CAMS is one of the creators of MFC and may be they focused more on the latter than investing further in mycams. As such, in my experinece, mycams runs into issues and possibly they don't want to fix much in that due to investment in MFC.

Originally Posted by concorde24

4) Other websites like Kuvera, ETMONEY etc. I have not used them till now but might need to evaluate other
options

I am a bit conservative about sites that thrive on your data. But as a platform Kuvera looked good to me. Its website is very fast. I'd stick to MFC for now, unless it starts disappointing.

[rajesh1868]

Is anyone receiving sms/email on folios that you don't hold?

I have received SMS on an HSBS folio. I don't own or remember investing with HSBC anytime.
Today I received an SMS on redemption UTI Flexi cap fund redemption. I own this, but the folio mentioned in SMS was wrong and to cross-check, I verified the transaction history on the UTI website. There is no redemption in history.

[whitewing]

Originally Posted by rajesh1868

Is anyone receiving sms/email on folios that you don't hold?

I have received SMS on an HSBS folio. I don't own or remember investing with HSBC anytime...

While receiving notifications for folios you don't hold is odd, would point out that L&T Mutual Fund merged with HSBC a couple of months back (that however did not update the folio numbers).

[skchettry]

Originally Posted by mayuresh

Now it's the turn of 2FA authentication that came into force from 01 Apr. SEBI order has clearly exempted "SIPs and mandates" from having to take 2FA ON the day of execution. For these orders, 2FA can be taken on the day of placing an order. MFU has once again messed this up by mandating investor to go and approve every future dated order on the day of execution, totally defeating the purpose of scheduling the orders. They have completely disregarded the leeway SEBI order has given and done what their IT staff felt was easy to program. And on complaining the standard skin-saving defense they talk is "look SEBI order..."

Could you please verify your observations on 2FA requirement for SIPs? I have a couple of SIPs registered on MFU and I have found no changes since 1st April. SIP amounts are getting debited from my bank account on time and getting reflected in my account accordingly. This has also been verified with eCAS for the month of April.
Regards
Sravan

[mayuresh]

Originally Posted by skchettry

I have a couple of SIPs registered on MFU and I have found no changes since 1st April.

SIPs work. My observations are about "scheduled purchase", not SIP.

[youknowitbetter]

Hi - just wanted to check if there is a good website to compare different ETFs available for investment. Query is more with respect to ETFs investing in offshore funds/tracking foreign index. I have been looking for it online, but haven't come across any credible website wherein I compare various product offering, which results in going through website of different AMCs. Thanks in advance.

[montsa007]

Originally Posted by rajesh1868

Is anyone receiving sms/email on folios that you don't hold?

I have received SMS on an HSBS folio. I don't own or remember investing with HSBC anytime.
Today I received an SMS on redemption UTI Flexi cap fund redemption. I own this, but the folio mentioned in SMS was wrong and to cross-check, I verified the transaction history on the UTI website. There is no redemption in history.

I occasionally receive sms from Nippon Mutual Fund, had held it once in the past, still getting sms + email updates about the scheme.

For the UTI Redemption, someone must have mentioned in wrong mobile number while subscribing to the fund.

[carboy]

Can someone help me with Equity Mutual Fund Long Term Capital Gains calculation considering both Indexation & 31/1/2018 Grandfather calculations.

I have some really old UTI Nifty Index Funds I have purchased - it's the first stock market investment I really made.

This is what I get from the UTI capital gains statement

- Purchased in Dec 2008 - 155 units - Purchase amount 2650 Rs. Grandfathered cost on 31/1/2018 is 11,000 Rs.
- Sold on Jun 2023 - Sell amount - 19,550 Rs.

The capital gains statement from UTI shows Capital Gains as

- Indexed Cost - Rs. 0
- Long Term with Index - Rs. 0
- Long Term without Index - Rs. 8500


I don't understand how indexed cost is Rs. 0

Am I really liable for Rs. 0 capital gains here or are they saying that I need to calculate it myself?

[DaptChatterjee]

Originally Posted by carboy

Can someone help me with Equity Mutual Fund Long Term Capital Gains calculation considering both Indexation & 31/1/2018 Grandfather calculations.

- Purchased in Dec 2008 - 155 units - Purchase amount 2650 Rs. Grandfathered cost on 31/1/2018 is 11,000 Rs.
- Sold on Jun 2023 - Sell amount - 19,550 Rs.

The capital gains statement from UTI shows Capital Gains as

- Indexed Cost - Rs. 0
- Long Term with Index - Rs. 0
- Long Term without Index - Rs. 8500

There’s no indexation benefit on equity LTCG.
So you pay zero tax on grandfathered gain, and 10% (+cess as applicable) on the gains thereafter.

[carboy]

Originally Posted by DaptChatterjee

There’s no indexation benefit on equity LTCG.
So you pay zero tax on grandfathered gain, and 10% (+cess as applicable) on the gains thereafter.

So the capital gains would be

Grandfathered cost 11,000 Rs - Purchase amount 2650 Rs.

And then I total capital gains from all different sales & the first 1 lakh would be exempt in the total, right?

[DaptChatterjee]

Originally Posted by carboy

So the capital gains would be

Grandfathered cost 11,000 Rs - Purchase amount 2650 Rs.

Capital gain would be
Sell amount 19500 - grandfathered amount 11000= 8500 (same as shown in MF capital gains statement).

And then I total capital gains from all different sales & the first 1 lakh would be exempt in the total, right?

Yes, would be exempt.

Do note that the gains would still need to be reported in ITR-2

[kshastry]

Can some experts comment whether 'HDFC Retirement Savings-Equity' fund is a good long term MF to invest via SIP? It has performed consistently and ranked top within the category. No Exit load. However, a high lock-in period of 5 years. I am bit skeptical about funds with longer lock-ins. Pressure to perform may not be much on Fund managers.

[DigitalOne]

Originally Posted by kshastry

Can some experts comment whether 'HDFC Retirement Savings-Equity' fund is a good long term MF to invest via SIP? It has performed consistently and ranked top within the category.

Indeed, it seems to be performing marginally better than the other funds in the Hybrid-Aggressive category, probably because of a higher equity allocation. You may invest in it if you are comfortable with the lock-in period. But keep in mind the name "Retirement Savings" is just a marketing gimmick to get around the rule that an AMC should have only one fund per category. There is nothing unique about this fund amongst the Hy-Agg category (apart from the lock in period).