Direct Investment in Mutual Funds

[Saand-Bhaaloo]

Originally Posted by mgirotra

You can actually get that folio number moved to a direct ARN (without any broker code) by getting a NOC from the broker and writing an application to the AMC. post that all investments in that folio , if done directly will be load free

Thanks but in case I don't want to disturb my well maintained relations with the broker than the solutions purposed by me seems the most logical/only way out?

Regards,
SB

[mrindia]

Things r easy. Do not disturb old folios. Additional purchases should be marked 'DIRECT' in space provided for 'Agent's Code' in the application form/slip. This way u can retain prev folio no & avoid entry load from now onwards. No need 4 NOC from broker if this way suits u. In case of SIPs u may write an application to AMC to treat future SIPs as 'Direct'. U have to give fresh chq & new ECS mandate. Ur folio no will be retained this way.

[mrindia]

Is there any way by which I can invest online in MFs 'DIRECTLY' i.e. whithout entry load. Any AMC/other agency provides such facility for customers?

[Saand-Bhaaloo]

Thanks MrIndia.......SB Khush hua!!
Kabhi humare thread pe aake gyaan baantiye zara.

http://www.traderji.com/beginners-gu...t-answers.html

With Regards,
SB

[life2007]

Hello

Apart from writing "DIRECT" in ARN code column in an application form, what other procedures have to be followed for an DIRECT Investment in MFs?

Please advise.

Regards

Jeet

[mrindia]

Originally Posted by life2007

Hello

Apart from writing "DIRECT" in ARN code column in an application form, what other procedures have to be followed for an DIRECT Investment in MFs?

Please advise.

Regards

Jeet

Hello Jeet!
No other formality. Recently I had a nice experince of making 'Direct' investment at CAMS office. Acc statement has not shown any entry load.

[life2007]

Hello Mr.India !

Thanks a lot for this information.

I hope you wont mind answering some of my below queries. I am so dumb in all this, I have never invested in MFs before I only want you to see if everything is alright as below. In case you find an error or something missing, please say so.

1) For all investments, of course I have to fill the Common Application Form
2) I will be doing only SIP. So I have to fill the SIP Form as well
3) Again, I would prefer Auto debit. So I have write only the first cheque
and then ask for Auto debit from my bank. So I have to fill the Easy Pay
form too.
4) Documents to be enclosed along with the above forms are 1) Attested
PAN Copy 2) Cancelled Cheque
5) Submit all this to CAMS.
6) Do I receive a receipt immediately. My problem is that I live in outskirts
of my city, so I am not sure whether the postman will deliver the vital
documents so that there is a proof that I am invested with the
companies.

Thanks once again

Regards

Jeet

Originally Posted by mrindia

Hello Jeet!
No other formality. Recently I had a nice experince of making 'Direct' investment at CAMS office. Acc statement has not shown any entry load.

[mrindia]

Hello!
Cheers! Most of your assumptions are correct.
-You have to submit PAN copy only once in CAMS for all your future transactions with them.
-Its mandatory for CAMS ppl to issue receipt of your application form instantly. Preserve the receipt till you receive acc statement.
-While filling application form you may opt for ‘Receipt of documents by e-mail’ You will receive soft copy of acc. statement within 2 days in your inbox (pdf) & you can keep its printout for all practical purposes. This way you wont be dependent on courier.
-If you provide your mobile no. in your form even CAMS will send you a self generated message confirming your application in process.
-Most of the pvt banks give free insta-alerts & net-banking facility. It will help you to keep an eye on SIP deductions every month.
Hope you may go ahead with your SIP plans with a sense of security now.

Happy investing.

mrindia

Originally Posted by life2007

Hello Mr.India !

Thanks a lot for this information.

I hope you wont mind answering some of my below queries. I am so dumb in all this, I have never invested in MFs before I only want you to see if everything is alright as below. In case you find an error or something missing, please say so.

1) For all investments, of course I have to fill the Common Application Form
2) I will be doing only SIP. So I have to fill the SIP Form as well
3) Again, I would prefer Auto debit. So I have write only the first cheque
and then ask for Auto debit from my bank. So I have to fill the Easy Pay
form too.
4) Documents to be enclosed along with the above forms are 1) Attested
PAN Copy 2) Cancelled Cheque
5) Submit all this to CAMS.
6) Do I receive a receipt immediately. My problem is that I live in outskirts
of my city, so I am not sure whether the postman will deliver the vital
documents so that there is a proof that I am invested with the
companies.

Thanks once again

Regards

Jeet

[life2007]

Hello MrIndia

If there was a provision for a real hug in this forum, I would have done that. Accept my virtual hug for not only solving my queries, but also guiding me properly. This has actually made me more at ease in investing directly. All this while, I was waiting for the ICICI direct to activate my account, it has taken them more than one month, and I was still waiting. Now, I can convinently forget them

With the markets down, probably a good chance to invest my first SIPs, I am busy downloading the forms and filling them to send to CAMS on Monday.

I am sure you must have good knowledge about the portfolio too. Please do me a last favour. You dont need to advise in detail, I have made this one after consulting good experts in this forum only, I just want your final say in this please. If there is nothing serioiusly wrong, I would want to stick to this portfolio only

1) DSMPL EQUITY = 2K for next 6 months
2) SBI Magnum Contra = 2K for next 6 months
3) HDFC Prudence = 2K for next 6 months
4) DSMPL TIGER = 2K for next 6 months
5) SBI Magnum Tax = 4K for next 3 months & then 2K for next 3 months.
6) Birla Tax Relief 96 = 4K for next 3 months & then 2K for next 3 months.

I would then look at both my financial and market position after 6 months and decide to allcate further funds.

I have already asked for advise in one of my posts to others, but so far no response.

I assure you of not disturbing you again

Thanks

Jeet

PS: Is redemption also simpler like the above procedure?

Originally Posted by mrindia

Hello!
Cheers! Most of your assumptions are correct.
-You have to submit PAN copy only once in CAMS for all your future transactions with them.
-Its mandatory for CAMS ppl to issue receipt of your application form instantly. Preserve the receipt till you receive acc statement.
-While filling application form you may opt for ‘Receipt of documents by e-mail’ You will receive soft copy of acc. statement within 2 days in your inbox (pdf) & you can keep its printout for all practical purposes. This way you wont be dependent on courier.
-If you provide your mobile no. in your form even CAMS will send you a self generated message confirming your application in process.
-Most of the pvt banks give free insta-alerts & net-banking facility. It will help you to keep an eye on SIP deductions every month.
Hope you may go ahead with your SIP plans with a sense of security now.

Happy investing.

mrindia

[swama694]

hi

i have a doubt

I wish to do sip from next month onwards. I was planning to do sip of 10k for 4 schemes and so total SIP amount will come for 40k.
so in this case do i have to submit KYC complaint form?
can anyone give me idea in this regard..