[deepv]

Originally Posted by Rachit.K.Dogra

...

If I change the fund house:
1) Will I have to get KYC done again from them?
2) Will I be able to just start a new SIP from any of there websites straightaway?
3) As of now I can start an SIP in any direct funds from SBI and ICICI because I have their online accounts and folios under them.

Rachit, you wouldn't have to get the KYC done for opening a folio with a new fund house, that must have already been done for your PAN (as you have been investing for some time).

However you may have to visit MF office once to submit your application depending upon the fund you chose.
Some fund houses (like Quantum, Franklin, PPFAS (I think), etc.) provide option to create new folios completely online, while others don't.

[nowwhat?]

Originally Posted by Rachit.K.Dogra

My SBI fund SIP is about to expire. As things have turned out I have used this particular fund more like a savings account rather than an investment. Every time I would need some money, I would withdraw funds from it.

What this most likely means is that you have not budgeted your expenses properly and MFs would be unhelpful for you in the long run. I suggest rather than blocking all available funds, you invest less in SIP and purchase online if you have surplus funds.

Originally Posted by Rachit.K.Dogra

If I change the fund house:
1) Will I have to get KYC done again from them?
2) Will I be able to just start a new SIP from any of there websites straightaway?
3) As of now I can start an SIP in any direct funds from SBI and ICICI because I have their online accounts and folios under them.

1. KYC is a one-time affair and CVL maintains the data. So no need to do it again. You can just provide a copy of PAN card or the CVL confirmation. to the new fund house.
2. Many websites do not accept iSIP and some only do it only for certain banks. I simply take a print out and send the filled form with canceled cheque to the AMC.
3. The folios you already have should not be your consideration at all. Zero in on a decent fund and open a folio/SIP by printing the application and sending it to them via regular or registered mail.

[sgiitk]

Now they are also going for FATCA. I got an e-mail from CAMS and did it online for myself, my wife, son, daughter-in-law. HUFs required physical filling of the forms and was done a couple of weeks ago for both my son, and mine.

One question, since I have gone the CAMS route does the data also go to Franklin or a second set will have to be done (hopefully 'e')

[Rachit.K.Dogra]

Originally Posted by deepv

Rachit, you wouldn't have to get the KYC done for opening a folio with a new fund house, that must have already been done for your PAN (as you have been investing for some time).

However you may have to visit MF office once to submit your application depending upon the fund you chose.
Some fund houses (like Quantum, Franklin, PPFAS (I think), etc.) provide option to create new folios completely online, while others don't.

Originally Posted by nowwhat?

What this most likely means is that you have not budgeted your expenses properly and MFs would be unhelpful for you in the long run. I suggest rather than blocking all available funds, you invest less in SIP and purchase online if you have surplus funds.



1. KYC is a one-time affair and CVL maintains the data. So no need to do it again. You can just provide a copy of PAN card or the CVL confirmation. to the new fund house.
2. Many websites do not accept iSIP and some only do it only for certain banks. I simply take a print out and send the filled form with canceled cheque to the AMC.
3. The folios you already have should not be your consideration at all. Zero in on a decent fund and open a folio/SIP by printing the application and sending it to them via regular or registered mail.

Originally Posted by sgiitk

Now they are also going for FATCA. I got an e-mail from CAMS and did it online for myself, my wife, son, daughter-in-law. HUFs required physical filling of the forms and was done a couple of weeks ago for both my son, and mine.

One question, since I have gone the CAMS route does the data also go to Franklin or a second set will have to be done (hopefully 'e')

Thank you very much for the answers. This definitely helps as now I don't have to take a fund from the fund house that I am already enrolled with.

I will do some reading around the funds in the Equity sector and will post if I have any questions.

Any particular one's that I can look for?

Thank you gentleman once again for your answers.

Rachit

[nowwhat?]

Originally Posted by Rachit.K.Dogra

I will do some reading around the funds in the Equity sector and will post if I have any questions.

Any particular one's that I can look for?

I keep investing very simple and restrict myself to the funds from Mint 50 (http://money.livemint.com/LiveHome/V...rchOnline.aspx -- The link doesn't seem to be working right now). I have been a subscriber to this newspaper since its inception.

Mint looks at 3 year returns and they follow quartile rankings for equity funds which works well with my investment philosophy.

[deepv]

Originally Posted by Rachit.K.Dogra

Any particular one's that I can look for?
...

Look out at various fund details, comparisons and category options on VRO, most sites use their rating as base for analyses.

If you want to get into a little more details, you may check out MorningStar.

[Rachit.K.Dogra]

Originally Posted by nowwhat?

I keep investing very simple and restrict myself to the funds from Mint 50 (http://money.livemint.com/LiveHome/V...rchOnline.aspx -- The link doesn't seem to be working right now). I have been a subscriber to this newspaper since its inception.

Mint looks at 3 year returns and they follow quartile rankings for equity funds which works well with my investment philosophy.

Originally Posted by deepv

Look out at various fund details, comparisons and category options on VRO, most sites use their rating as base for analyses.

If you want to get into a little more details, you may check out MorningStar.

Thank you very much gentleman for the links.

Now from what I could understand the 3 and 5 year returns seem higher in Mid Cap to Small Cap sectors. But from what I understand, it would be a riskier sector? Right? So I should probably pick the top fund from the Large Cap and Mid Cap sectors.

Regards
Rachit

[maven]

Originally Posted by sgiitk

Now they are also going for FATCA. I got an e-mail from CAMS and did it online for myself, my wife, son, daughter-in-law. HUFs required physical filling of the forms and was done a couple of weeks ago for both my son, and mine.

One question, since I have gone the CAMS route does the data also go to Franklin or a second set will have to be done (hopefully 'e')

you will receive the FATCA requirements from each unique investor service/fund house. for e.g. the details submitted to CAMS for instance will apply to SBI MF, HDFC etc.
Between CAMS and Karvy most of the mutual fund houses should get covered.

[deepv]

Mutual funds are either serviced by CAMs or Karvy (except Franklin Templeton which provide option for FATCA update on its site), so we may directly do updates at these sites which will get propagated to the corresponding MFs (where you have folios).

Here are links for:
- CAMS
- Karvy
- Franklin Templeton

[nowwhat?]

Originally Posted by deepv

Here are links for:
- CAMS
- Karvy
- Franklin Templeton

Thank you Deep. This was a real time saver. Good thing I saw your post as I had already filled out the form and was planning to send to one mutual fund after another by snail mail.

Effort via the web was painless. However I was mystified when they asked for net worth. Do they seriously expect people to report this accurately after adding real estate, mf, bank deposits, etc.? I put in some number, but am concerned whether this will have ramifications.

[deepv]

Originally Posted by nowwhat?

.... I was mystified when they asked for net worth. Do they seriously expect people to report this accurately ...

I am not very sure about how to go about it, so the submissions are still pending for me.

FATCA for now is for America's usage (as I understand in a nutshell), so that US could tax its citizens if they have some income at other locations.
However, this also entails reverse data transfer to other countries, so if you have any kind of assets/stocks/funds (in US for example) they should be disclosed and taxes paid.

Right now these are just a few declarations, but there may be more due diligence later on if declarations are too far from reality.

[faustus77]

Originally Posted by nowwhat?

Thank you Deep. This was a real time saver. Good thing I saw your post as I had already filled out the form and was planning to send to one mutual fund after another by snail mail.

Effort via the web was painless. However I was mystified when they asked for net worth. Do they seriously expect people to report this accurately after adding real estate, mf, bank deposits, etc.? I put in some number, but am concerned whether this will have ramifications.

Nowwhat
Hi.
I too was surprised about the networth. How do you calculate the value of your flat, car etc. You are not supposed to give wrong information
They have an additional question about your political background.
I fail to understand the logic about such questions.
Can somebody please throw some light? Isn't the government tilting at windmills?
Regards

[pradkumar]

Thank you so much for these links. It has saved me a lot of time.

My wife is a joint holder. Any idea whether the joint holder needs to go through this?

Pradeep

Originally Posted by deepv

Mutual funds are either serviced by CAMs or Karvy (except Franklin Templeton which provide option for FATCA update on its site), so we may directly do updates at these sites which will get propagated to the corresponding MFs (where you have folios).

Here are links for:
- CAMS
- Karvy
- Franklin Templeton

[Mpower]

How did everyone do with their MF portfolios in 2015? Looks like Sensex had a pretty disappointing year as far as returns

[Parth46]

Originally Posted by Mpower

How did everyone do with their MF portfolios in 2015? Looks like Sensex had a pretty disappointing year as far as returns

Happy New Year!

I'll describe it one word - volatile!

From the all-time high of 30K Sensex a few months back, my portfolio has had a decent drop, but actually most of it is still pretty healthy CAGR as all of my SIPs are atleast a few years old.

On the other hand, some lump-sums I made right at the peak unfortunately are deep in red, especially volatile funds like Reliance Tax Saver.

IMHO, I like it better when red, helps me buy units and make additional purchases at a discount. I love these flash sales of 400-500 points drop, helps me pump-in a few extra bucks in my aggressive funds.

But I do all these shenanigans from a very long term view, have no intention of making a redemption of a single penny, hence my approach of loving these drops to lower my average price.