Traderji.com - Discussion forum for Stocks Commodities & Forex


fundsindia vs fundsmartindia

Discuss fundsindia vs fundsmartindia at the Mutual Funds Discussion Forum within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Friends, I have a icicidirect acct and i am happy with it for both my ...


Go Back   Traderji.com - Discussion forum for Stocks Commodities & Forex > IPO's, MUTUAL FUNDS & ETF's > Mutual Funds Discussion Forum

Mutual Funds Discussion Forum Discuss and talk about Indian Mutual Funds here!


Reply
 
Thread Tools
  #1  
Old 14th January 2010, 01:44 PM
Member
 
Join Date: Jan 2010
Location: Dubai
Posts: 4
Thanks: 0
Thanked 0 Times in 0 Posts
lawrie.john is on a distinguished road
Default fundsindia vs fundsmartindia

Friends,
I have a icicidirect acct and i am happy with it for both my MF as well as Equity investment. I have a friend who wants to invest newly and has 2 things the pan card and a NRE account. She doesnot want to go through the hassles and bindings of icici as one has to open acct with both direct and bank and then link them. besides she find their charges and support charges are high.

Now i found this on Livemint that the 2 platforms mentioned in the subject offer a free service to apply across all the funds. Both sites look good but there is no place to know their reliability and risks.

Can someone help. Fundsmart is recognised and Fundsindia is fairly new.

Are these platforms relaible and what is the catch that they offer services free for?

Just want to be cautious before i get someone to hook up to any of these. Your expert replies will be appreciated. I would also welcome comments from current users to let me know if it ok to advise the 2 platforms to anyone.

cheers
Lawrie



Reply With Quote
Sponsored Links
  #2  
Old 10th February 2010, 03:18 PM
Member
 
Join Date: Feb 2010
Posts: 4
Thanks: 0
Thanked 2 Times in 2 Posts
trigunatit is on a distinguished road
Default Re: fundsindia vs fundsmartindia

Services of FundsIndia are indeed free to investors, even the courier pickup is pre-paid by FundsIndia for the documents where your signatures are needed. You must be based in India, I think, for free courier pickup!

I have signed up of FundsIndia, and done high value (in lacs of rupees) investment transactions. I find the overall experience very good and pleasant.
Reply With Quote
  #3  
Old 26th February 2010, 02:37 AM
Member
 
Join Date: Sep 2009
Posts: 3
Thanks: 0
Thanked 0 Times in 0 Posts
Bhupendra229 is on a distinguished road
Default Re: fundsindia vs fundsmartindia

Hi,

I am also trying to figure out, which one will be better to join as an NRI. And read that fundsmartIndia doesn't allow NRIs currently.
http://www.fundsupermart.co.in/main/...svdo?id=8660#6
Reply With Quote
  #4  
Old 26th February 2010, 08:10 AM
Member
 
Join Date: Aug 2009
Posts: 5
Thanks: 0
Thanked 6 Times in 5 Posts
srikan2 is on a distinguished road
Default Re: fundsindia vs fundsmartindia

Quote:
Originally Posted by Bhupendra229 View Post
Hi,

I am also trying to figure out, which one will be better to join as an NRI. And read that fundsmartIndia doesn't allow NRIs currently.
http://www.fundsupermart.co.in/main/...svdo?id=8660#6
Hello sir,
This is Srikanth, I am a director here at FundsIndia.com.

We accept NRI customers, and have several NRI customers right now. Here are a couple of points:

1. Typically NRI customers are comfortable working with financial advisors who can guide them with their investment decisions (since they are far away, and unsure about the markets here). However, the problem with many advisors is that they are not supported by an electronic transaction platform. This makes it difficult for them to conduct business with NRIs because of the intensive paperwork required for the non-electronic MF transactions. FundsIndia offers a neat solution for this situation - we provide our platform for advisors and their clients so that the clients can get advise from their IFA and do their transaction over web through FundsIndia. This has worked out very well for several clients. Some of our advisors charge their clients for the advice (FundsIndia does not, the advisor does), and some provide their advice for free. FundsIndia has revenue sharing agreement with the advisors (for all fees we get from the MF companies). So, if you are an NRI customer looking for both a way to invest in Indian MFs, and advise along the way, do let us know, and we can hook you up to an advisor.

Of course, an NRI customer can choose to invest without any advisory support as well.

2. The one-time documentation requirements for an NRI are a bit tedious - the person needs to have a PAN card, a proof of address (foreign), a copy of passport, and NRE/NRO account (with adequate proof, like a cheque leaf). Some of these documents will need to be notarized by a bank official abroad, which can be a pain. These are just regulatory KYC requirements that cannot be circumvented. At FundsIndia, we will communicate clearly as to what is required, acceptable etc to the customer. What we have found is that since this is a one-time requirement, customers don't have a problem with it as long as they know clearly what they need to produce.

Overall, we have happy NRI customers from several parts of the world. Some come through advisors, and some by themselves. We are happy to support both.

You can write to me for more info at : contact at fundsindia dot com

Thanks,

Srikanth
Reply With Quote
The Following User Says Thank You to srikan2 For This Useful Post:
alroyraj (2nd November 2010)
  #5  
Old 27th February 2010, 08:15 PM
Member
 
Join Date: Feb 2009
Posts: 63
Thanks: 0
Thanked 8 Times in 8 Posts
mfadhd is on a distinguished road
Default Re: fundsindia vs fundsmartindia

Hi lawrie & bhupendra,

I can help u out in a very simple way just add my yahoo id will help u out silentwavesofocen at yahoo dot com

Hope to hear soon.

Regards
Reply With Quote
  #6  
Old 27th October 2010, 10:45 PM
Member
 
Join Date: Feb 2009
Posts: 31
Thanks: 0
Thanked 10 Times in 7 Posts
nsuresh_rasr is on a distinguished road
Default Re: fundsindia vs fundsmartindia

I am an NRI and opened an account with fundsindia a year ago. Their site is good and reliable. I have even recommended them for couple of my friends.

They even did a good job in transferring my existing mutual funds into fundsindia account.

They are now allowing NRI to invest in equity... will be trying that in a couple of days
Reply With Quote
  #7  
Old 28th October 2010, 09:12 AM
Member
 
Join Date: Jun 2010
Posts: 241
Thanks: 48
Thanked 110 Times in 93 Posts
yodlee99 will become famous soon enoughyodlee99 will become famous soon enough
Default Re: fundsindia vs fundsmartindia

I guess the point that is missed out is that fundsindia or fundsmartindia donot charge the customers DIRECTLY. However, when the customer owns a mutual fund, a portion of returns is subtracted by the mutual fund company or AMC for 2 things - internal expenses and trail commission. While the AMCs use the 1st portion to pay the fund manager, marketing costs etc; the 2nd part called trail commission is shared with the brokers like fundsindia or fundsmartindia or Integrated Enterprises etc. If you invest directly, the AMC keeps both the portions with itself, I think.
Whether you go through a broker or not, a fixed amount is charged from the returns of your mutual fund investment by the AMC. In other words, you can avail of services like that of fundsindia without any extra financial burden. Such companies survive off of the trail commission and conduct their businesses completely online, I guess, in order to minimize the running costs.
Reply With Quote
The Following User Says Thank You to yodlee99 For This Useful Post:
alroyraj (2nd November 2010)
  #8  
Old 1st November 2010, 06:47 PM
Member
 
Join Date: Jul 2010
Posts: 56
Thanks: 4
Thanked 1 Time in 1 Post
blueninja is on a distinguished road
Default Re: fundsindia vs fundsmartindia

Quote:
Originally Posted by yodlee99 View Post
I guess the point that is missed out is that fundsindia or fundsmartindia donot charge the customers DIRECTLY. However, when the customer owns a mutual fund, a portion of returns is subtracted by the mutual fund company or AMC for 2 things - internal expenses and trail commission. While the AMCs use the 1st portion to pay the fund manager, marketing costs etc; the 2nd part called trail commission is shared with the brokers like fundsindia or fundsmartindia or Integrated Enterprises etc. If you invest directly, the AMC keeps both the portions with itself, I think.
Whether you go through a broker or not, a fixed amount is charged from the returns of your mutual fund investment by the AMC. In other words, you can avail of services like that of fundsindia without any extra financial burden. Such companies survive off of the trail commission and conduct their businesses completely online, I guess, in order to minimize the running costs.
Hi Is it safe
Reply With Quote
  #9  
Old 2nd November 2010, 01:39 AM
Member
 
Join Date: Sep 2010
Posts: 2
Thanks: 1
Thanked 0 Times in 0 Posts
inquisitivemind is on a distinguished road
Default Re: fundsindia vs fundsmartindia

Quote:
Originally Posted by blueninja View Post
Hi Is it safe
I opened an account with fundsindia recently. After the transaction we can verify the transaction with CAMS/Karvy directly by requesting for consolidated statement. I have applied for two other funds from CAMS directly. In one fund nominee details was wrong and in other fund I made mistake while filling nomination. By this I feel I should have applied with fundindia only.
Reply With Quote
  #10  
Old 13th January 2011, 08:58 PM
Member
 
Join Date: Jan 2011
Posts: 11
Thanks: 0
Thanked 1 Time in 1 Post
hchandra111 is on a distinguished road
Default Re: fundsindia vs fundsmartindia

do check back on this website. they do allow NRIs


Reply With Quote
Reply

Bookmarks


Advertise Here


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT +5.5. The time now is 12:14 PM.

Indemnity, Disclaimer & Disclosure Notice:
By visiting Traderji.com you automatically indicate that you agree to our Forum Rules, Indemnity, Disclaimer & Disclosure Notice and General Content Disclaimer Notice and indemnify Traderji.com, its associates and related parties of all claims howsoever resulting from the usage of the forum/site.
Disclaimer: Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. You are recommended to make appropriate enquiries and seek appropriate advise before sending money, incurring any expenses, acting on recommendations or entering into any commitment in relation to any advertisement published here. Traderji.com does not vouch for any claims made by the advertisers of products and services. Traderji.com will not be held liable for any consequences in the event such claims are not honoured by the advertisers. Traderji.com will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of any information by anybody mentioned anywhere on this site.
Disclosure: The information in this forum is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.
All names or products mentioned are trademarks or registered trademarks of their respective owners.
General Content Disclaimer Notice:
In light of our policy of encouraging candid, open exchanges of views and the rapid distribution of information originating from many sources, Traderji.com cannot determine the accuracy or legality of any information that may be uploaded to the forum. Opinions, advice and all other information expressed by participants in discussions are those of the author. You rely on such information at your own risk. You are urged to seek professional advice for specific, individual situations and not rely solely on advice or opinions given in the discussions. Since Traderji.com is an open and free discussion forum, any comments made by members of this forum in their posts reflect their own views and not of the owner or administrator of Traderji.com. Thus the owner/administrator indemnify themselves of all claims whatsoever and will not be liable or responsible for any members comments/views in this forum Traderji.com. Although we constantly delete all irrelevant content and/or SPAM, if you should find any objectionable or offensive posts made by members of this forum which you would like to bring to our notice for removal then please Contact Us.
 


Copyright © www.Traderji.com 2001 - , All rights reserved.

Recommended Websites - www.TradersEdgeIndia.com - www.TradingPicks.com - www.MasterOfTrading.com

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245