Can I have multiple folios with same names/holdings
- Thread starter lotmanythings
- Start date
If you have a broker like Sharekhan for investing in Mutual Funds, each time you select the same Fundhouse and the Same Fund, it asks you if you wish to invest under a New Folio Number or wish to add to your existing Folio.
It is evident that if you choose a New Folio, the amount needed to be invested is the minimum requirement for First Investment [Rs 5000 for most of the funds], but if you add to existing Folio, it is less [Mostly Rs 1000 or Rs 500 for most of the funds]
Surprisingly, the default option is for a New Folio Number, so you are needed to invest more amount than the amount needed for an addition in existing Folio.
It is evident that if you choose a New Folio, the amount needed to be invested is the minimum requirement for First Investment [Rs 5000 for most of the funds], but if you add to existing Folio, it is less [Mostly Rs 1000 or Rs 500 for most of the funds]
Surprisingly, the default option is for a New Folio Number, so you are needed to invest more amount than the amount needed for an addition in existing Folio.
It has been interesting to read this thread. I thought of sharing a personal experience. My personal strategy is to spread my monthly SIP amount over 4/5 weekly investments across the month.
With HDFC ISA, when I open 4 different SIPs, each of them is automatically linked to the first folio which was opened.
However, when I tried the same with FundsIndia, it opened 5 different folios and tracking the same became a bit of headache. Hence, I have stopped all these SIPs and plan to reopen in HDFC ISA (helps as HDFC is my primary banker).
Happy Investing !!
With HDFC ISA, when I open 4 different SIPs, each of them is automatically linked to the first folio which was opened.
However, when I tried the same with FundsIndia, it opened 5 different folios and tracking the same became a bit of headache. Hence, I have stopped all these SIPs and plan to reopen in HDFC ISA (helps as HDFC is my primary banker).
Happy Investing !!
Hello sir,
Srikanth from fundsindia here.
We don't create new folio ids whenever we can avoid it. The system automatically takes care of it. If you already have a folio in an AMC, any new investment (even in a different scheme) will be allotted the same folio id.
In your case, it is likely that you setup all the transactions for the same day. When this happens, although we request the AMC to create a new folio id and allot it to all the transactions, it is likely that new folio ids are created for the different transactions. It is still possible to merge all the ids into one folio with a simple request to the AMC.
So, in summary, at FundsIndia, we do have systems in place to avoid creation of new folio ids. In fact, even when you make a new investment in a scheme, we give you the choice of either creating a new folio id or using any one of your existing ids.
Thanks,
Srikanth
Srikanth from fundsindia here.
We don't create new folio ids whenever we can avoid it. The system automatically takes care of it. If you already have a folio in an AMC, any new investment (even in a different scheme) will be allotted the same folio id.
In your case, it is likely that you setup all the transactions for the same day. When this happens, although we request the AMC to create a new folio id and allot it to all the transactions, it is likely that new folio ids are created for the different transactions. It is still possible to merge all the ids into one folio with a simple request to the AMC.
So, in summary, at FundsIndia, we do have systems in place to avoid creation of new folio ids. In fact, even when you make a new investment in a scheme, we give you the choice of either creating a new folio id or using any one of your existing ids.
Thanks,
Srikanth
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