Mutual fund SIP - web trading account?

[ash.shank]

Hello folks,

New to the forums and to investing. My only previous investing experience involved dropping some money into a couple of ELSS two years ago.

So I've spent some time reading up and plan on going with a 5 year SIP in about 7 funds. I'm having a hard time contacting some of the AMCs and was wondering if there might be an easier way.

Are there web trading accounts that'd let me do this without charging too much in brokerage? Don't have one or a demat account currently. I don't plan on micromanaging these too much either.

Here's my tentative plan if you are interested:
Fidelity India Growth - 3500 (monthly)
HDFC Top 200 - 3500
Quantum Long Term Equity - 3500
HDFC Balanced - 3500
HDFC Mid-Cap Opportunities - 1500
DSPBR Micro Cap Reg - 1500
IDFC SSI Medium-term Plan A-G

Thanks

 

[xxdiesel]

Lose the IDFC fund or relace it with IDFC Premier equity.
Lose the Balanced fund too.

You can start a SIP on paper with each AMC and then request an Online PIN and carry future transactions directly with the AMC online. This is the best and cheapest platform.

You can also open an ISA account with your bank, like HDFC Bank Netbanking for a small amount of Rs. 100 per quarter. It allows you to buy, sell, redeem, SIP almost all funds.

Avoid the sale, purchase on stock exchange till further clarity.

 

[yodlee99]

I use the investment services account with hdfc and they are less expensive to use than investing via icicidirect. You can also invest directly via AMC's website.
Suggestions: If you need a multi cap fund, try DSPBR equity fund.

Fidelity India Growth - 3500 (monthly) - GOOD
HDFC Top 200 - 3500 - GOOD
Quantum Long Term Equity - 3500 - GOOD
HDFC Balanced - 3500 - GOOD or replace with Reliance Reg savings balanced
HDFC Mid-Cap Opportunities - 1500 - Replace with IDFC Premier equity-plan A
DSPBR Micro Cap Reg - 1500 - Very aggressive, but a good one
IDFC SSI Medium-term Plan A-G - Ok for a debt fund. Can be replaced with canara income fund or Fortis flexi debt fund.

 

[drsambu123]

Hello folks,

New to the forums and to investing. My only previous investing experience involved dropping some money into a couple of ELSS two years ago.

So I've spent some time reading up and plan on going with a 5 year SIP in about 7 funds. I'm having a hard time contacting some of the AMCs and was wondering if there might be an easier way.

Are there web trading accounts that'd let me do this without charging too much in brokerage? Don't have one or a demat account currently. I don't plan on micromanaging these too much either.

Here's my tentative plan if you are interested:
Fidelity India Growth - 3500 (monthly)
HDFC Top 200 - 3500
Quantum Long Term Equity - 3500
HDFC Balanced - 3500
HDFC Mid-Cap Opportunities - 1500
DSPBR Micro Cap Reg - 1500
IDFC SSI Medium-term Plan A-G

Thanks

Hi
Good selection of funds.Congrats...
I am doing my MF transaction with funds india .com for the past couple of months... Its very nice ... no charges... single platform to buy all MFs...

 

[ash.shank]

Thanks for all those tips folks. I've made appropriate changes to my list. On my way to make the first set of investments of my life.

 

[baarish84]

I am investing through HDFC Netbanking cum ISA. Experience is good so far. Charges 110/- per quarter. You can go for SIP or bulk purchase. Although, not all AMCs are covered.

 

[dj_rock]

@baarish84 , how do you receive statements from HDFC ISA Account.
Also, I haven't received any physical or email statement since account opening for a few months.
Such statements are required for submitting as tax proof for ELSS funds.

Guys, Please suggest.

Thanks
Rocky

 

[milind]

Hello folks,


So I've spent some time reading up and plan on going with a 5 year SIP in about 7 funds. I'm having a hard time contacting some of the AMCs and was wondering if there might be an easier way.

Thanks

Why are you having hard time talking to the AMCs? My experience with them has been quite good - either on phone or on email. I don't think you need any middlepersons to execute your investment transactions. Investing directly online with AMCs works smooth once its setup (and that setup is not difficult either)

--

 

[dj_rock]

Guys, can anybody answer my earlier query?

How do you receive statements from HDFC ISA Account.
Also, I haven't received any physical or email statement since account opening for a few months.
I want statement for submitting as tax proof for ELSS funds.

 

[rajeshn2007]

Guys, can anybody answer my earlier query?

How do you receive statements from HDFC ISA Account.
Also, I haven't received any physical or email statement since account opening for a few months.
I want statement for submitting as tax proof for ELSS funds.

Hi,
you can just send a query to hdfc, they would send you.