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  #1  
Old 31st August 2009, 04:02 PM
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Default Free Online Investment in Mutual Funds



Friends
Did you see this?

https://www.fundsindia.com/

It says investing in MF and equities will be free (no account opening fee, no charges for transaction). The site also gets a mention in outlook money.

Does any one use this? Is it safe enough?

Last edited by katta : 31st August 2009 at 04:09 PM.
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  #2  
Old 31st August 2009, 05:32 PM
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Here is the article that mentions it:

http://money.outlookindia.com/article.aspx?261260

Quote:
New online portals such as www.fundsindia.com offers schemes from 17 fund houses free of cost to investors. The portal hopes to scale up their client base and earn through trail commissions. They are planning to add another 5-6 MFs soon.
I don't think they are offering any direct equity investment platform; just for mutual funds.
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  #3  
Old 1st September 2009, 04:31 PM
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Default Re:

Thanks for sharing this information. I just registered myself in their website. From what it says, I should be getting a welcome kit and afterwards I should be able to start investing.

On security wise, why it would be a problem ? Even if fundsindia closes business, the units are held by MF houses only.

If you referring to investing online via the bank, that security threat is always there. I am not clear when you say security issue. Could you please elaborate ?

Or if there are any other view on security aspect of it, can anyone say ?
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  #4  
Old 2nd September 2009, 02:45 PM
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Question

I was referring to the promptness of the service. For example, if we start a SIP, then we should not see units being not bought or lesser sum is being invested,...etc (discrepancy between orders and executions: date, amount, correctness of statements). Anyone would like to have an account which does things automatically and correctly and not bother about these details each month.
As you said, I agree that once the units are bought, we are safe as the money is with the AMC.

Last edited by katta : 2nd September 2009 at 02:49 PM.
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  #5  
Old 2nd September 2009, 04:56 PM
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Default Re:

As an investor, we need to watch the number of units bought and verify it atleast to start with with this new site. We need to do that simple maths.

So far they are very prompt. I got the welcome kit and they have a pickup service by courier who would pick up my application form.

I am going to try this site to see if it works for me.
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  #6  
Old 2nd September 2009, 11:27 PM
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Do share your experince with us.
Also are you planning to move your existing units with other agents to this fundsindia.com
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  #7  
Old 3rd September 2009, 10:27 AM
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Default Re:

Existing ones I am not planning to move, already commissions are paid


Sure, will share the exprience.
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  #8  
Old 3rd September 2009, 02:18 PM
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Quote:
Originally Posted by balaji_mohan View Post
Existing ones I am not planning to move, already commissions are paid
If you move - they will allow you to sell it off if you so desire in future free of cost.
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  #9  
Old 4th September 2009, 10:31 AM
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Default Re:

Hi,

Sorry, I didn't understand. I have some in ICICIDirect. Do you mean to say while selling also ICICI Direct will deduct some charges apart from the 1% exit load ?

I wasn't aware. can you please explain your view ?
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  #10  
Old 4th September 2009, 02:07 PM
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Quote:
Originally Posted by balaji_mohan View Post
Do you mean to say while selling also ICICI Direct will deduct some charges apart from the 1% exit load ?

I wasn't aware. can you please explain your view ?
ICICI Direct will charge for every transaction(whether its a sell or a buy)
The rates are mentioned on the site.

Login to icicidirect
Trading => Mutual Funds => Fee Structure
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  #11  
Old 4th September 2009, 06:37 PM
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Default Re:

Hmm, that's brutal from investor point of view. Thanks for the information.
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  #12  
Old 8th September 2009, 04:57 PM
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Default

I'm looking to invest online in mutual funds - in bulk, SIP and may also need systematic withdrawal/transfer, etc convenient features - all fully online.

ICICI direct I find to be expensive as they charge Rs 100 or 1.5% (lower of the 2) for bulk & Rs 30 or 1.5% for SIP. They charge this even on the 'mutual fund account' which is actually free of AMC, though they have opening charge of Rs 500

HDFC has good selection of mutual funds but they charge Rs 110/ quarter.

SBI I've heard is slow & also doesnt have good selection of MFs.

Any thoughts on how is www.fundsindia.com ?

What about India infoline?

All I need is a safe online portal for MFs alone, that also doesnt charge (if possible) entry loads, opening fees, annual charges, etc.

Any tips?

Thanks in advance
Anand
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  #13  
Old 8th September 2009, 05:18 PM
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Quote:
Originally Posted by anandcs View Post

All I need is a safe online portal for MFs alone, that also doesn't charge (if possible) entry loads, opening fees, annual charges, etc.
I doubt you will get any portal that doesn't have any kind of charges.

If the portal doesn't charge the customers in any way, why should it be doing business in the first place......

There are some brokerages like Kotak Securities that don't have charges on mutual fund investments, but Kotak Securities has an account opening charge and also a demat account AMC of around Rs 400.

&

what do you mean by "in bulk"?
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  #14  
Old 8th September 2009, 06:26 PM
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Quote:
Originally Posted by Alchemist View Post
If the portal doesn't charge the customers in any way, why should it be doing business in the first place......
They can make money from the trail percent given by AMC to the distributor, which otherwise the AMC gobbles up if you apply directly

Quote:
Any thoughts on how is www.fundsindia.com ?
This is precisely the business plan of fundsindia.com
But yet to get any feedback of any real fundsindia customer.
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  #15  
Old 9th September 2009, 10:29 AM
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Default Re:

I got my account activated in fundsindia. They do it swiftly.

I am yet to start investing with them.

The drawback or feature that's not available yet is to choose the bank for mode of payment.

For ex: while opening the account with FundsIndia, one has to give the bank a/c where the redeemed amount will go into. FundsIndia uses this bank as the payment gateway for buying MFs. Rather I would expect it to give list of options for payment. This I was told in a mail that it will be activated in a week or so. Waiting for the same.

Otherwise, the formalities are smoother and very prompt. I find it no harm in giving this site a try.

Also on HDFC banks Rs, 110/- per quarter - This is not a "hard/fixed" charge. If the bank manager wishes, he can waive this off. I am also going to speak to my Bank Manager of HDFC to waive this for me :-)
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  #16  
Old 9th September 2009, 10:45 AM
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Quote:
Originally Posted by Alchemist View Post
I doubt you will get any portal that doesn't have any kind of charges.

If the portal doesn't charge the customers in any way, why should it be doing business in the first place......
True. I don't mind paying some charges but found ICICI charges too much - comes to some .5-1% for MFs!

Hence, can you please tell me if its better thru brokerage houses or banks?
And which brokerage house to choose - sharekhan, india infoline, indiabulls, etc for someone like me who mainly wants investment facility (MFs or other) and might trade few times a yr (low volume).

Quote:
There are some brokerages like Kotak Securities that don't have charges on mutual fund investments, but Kotak Securities has an account opening charge and also a demat account AMC of around Rs 400.
I have an SB acc with Kotak which has an 'investment' section linked to it, but for MFs they just kill you with 1.75% charges! From what you say it looks like Kotak Securities as a separate DMAT & trading account is much better.

Quote:
what do you mean by "in bulk"?
By "in bulk" I just meant the non-SIP route of 1 time investment in MFs! I guess I used a non standard terminology.

Quote:
This is precisely the business plan of fundsindia.com
But yet to get any feedback of any real fundsindia customer.
As for fundsindia I think I'll stay clear from the new company. Also it doesn't offer some required MFs such as DSP, HDFC, Tata.
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  #17  
Old 15th September 2009, 03:21 PM
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Default SIP - though bank or broker?

If I enroll for SIP on one of these online broker sites (say sharekhan or india infoline), does the SIP money get deducted directly from the bank or from my trading account on the broker's site?
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  #18  
Old 15th September 2009, 07:54 PM
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Quote:
Originally Posted by anandcs View Post
If I enroll for SIP on one of these online broker sites (say sharekhan or india infoline), does the SIP money get deducted directly from the bank or from my trading account on the broker's site?
from Trading account if I am not wrong!
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  #19  
Old 29th May 2013, 09:25 PM
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Default Regarding FundsIndia

Have few queries regarding FundsIndia service:

1) does it allow daily SIPs for all the schemes?
2) what will be extra expenses in having daily SIPs Vs. say 2 SIPs in a month?
3) does they take money for SIPs every time directly from my associated bank account? or do I have to transfer money in fundsindia account and they will take money for SIP from there something like an ICICIDirect account)?
4) regarding transfer of existing MF holding to fundsindia, their website says "To transfer a mutual fund holding that is currently being held through another online channel, you would first need to make it a ‘Direct’ holding. Only your current online channel can help make this happen. So, please contact representatives of your current online broker, and request them to make your mutual fund holdings ‘Direct’. After that is done, you can login to your FundsIndia account, and follow the ‘Easy Transfer’ process"
What is meant by 'Direct' holding here?
5) how is the experience of fundsindia service in general of members on this forum?

Lot of questions! I would really appreciate if members can share their personal experiences.
Thanks.
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  #20  
Old 30th May 2013, 12:37 AM
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Quote:
Originally Posted by RockZ View Post
Have few queries regarding FundsIndia service:

1) does it allow daily SIPs for all the schemes?
2) what will be extra expenses in having daily SIPs Vs. say 2 SIPs in a month?
3) does they take money for SIPs every time directly from my associated bank account? or do I have to transfer money in fundsindia account and they will take money for SIP from there something like an ICICIDirect account)?
4) regarding transfer of existing MF holding to fundsindia, their website says "To transfer a mutual fund holding that is currently being held through another online channel, you would first need to make it a ‘Direct’ holding. Only your current online channel can help make this happen. So, please contact representatives of your current online broker, and request them to make your mutual fund holdings ‘Direct’. After that is done, you can login to your FundsIndia account, and follow the ‘Easy Transfer’ process"
What is meant by 'Direct' holding here?
5) how is the experience of fundsindia service in general of members on this forum?

Lot of questions! I would really appreciate if members can share their personal experiences.
Thanks.
Contact fundsindia they will be more than happy to answer your queries

1. As far as I know yes.
2. No difference, same trailing expenses.
3. Directly from your associated bank account.
4. Direct holding means there is no ARN associated with your mutual fund units.
5. Excellent for me.
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  #21  
Old 31st May 2013, 07:57 PM
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Quote:
Originally Posted by RockZ View Post
Have few queries regarding FundsIndia service:

1) does it allow daily SIPs for all the schemes?
Quote:
Originally Posted by Atiker View Post
Contact fundsindia they will be more than happy to answer your queries

1. As far as I know yes.
Just got reply from Fundsindia on allowed frequency of SIPs - surprisingly they have confirmed that they allow only monthly SIPs

The guy confirmed this in writing but I am still not convinced. But if this is true then it's a very big limitation on their part.
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  #22  
Old 31st May 2013, 09:37 PM
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Why are you looking for Daily SIP?
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  #23  
Old 4th June 2013, 03:50 PM
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Quote:
Originally Posted by vinvest View Post
Why are you looking for Daily SIP?
Good question vinvest!
Well, nothing serious but just wanted to do a little real time experiment at my end . Wanted to compare, the averaging out for daily Vs. monthly/weekly SIP. Will there be better averaging out (I hope that's the right term) if I go for daily SIP?
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  #24  
Old 4th June 2013, 05:51 PM
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Quote:
Originally Posted by RockZ View Post
Good question vinvest!
Well, nothing serious but just wanted to do a little real time experiment at my end . Wanted to compare, the averaging out for daily Vs. monthly/weekly SIP. Will there be better averaging out (I hope that's the right term) if I go for daily SIP?
What do you mean by 'better'?

If 'better' means closer to a true average then the answer is obvious, you don't need to spend time experimenting.

Hourly SIP Is better than Daily SIP is better than Weekly SIP is better than fortnightly SIP is better than Monthly SIP.

However, if you have a different meaning of 'better', then the answer would change. For most other meanings of 'better', this is a very difficult experiment to conduct.

You will need a long period of experimenting (5-10 years) and/or you will need multiple periods of experimenting (when market is generally going down, market is going up, market is stagnant).

Would be easier doing it with historical data rather than doing the experiment actually.
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  #25  
Old 4th June 2013, 06:58 PM
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Daily STP will mess up your bank statements.

I do daily STP as a SWP from liquid fund to equity fund.

Liquid Fund is replenished with salary every start of the month.
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  #26  
Old 5th June 2013, 04:08 AM
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Quote:
Originally Posted by RockZ View Post
Well, nothing serious but just wanted to do a little real time experiment at my end
Do this on a virtual portfolio like moneycontrol/valuresearhonline and back test with 2-5 years data.

Quote:
Originally Posted by vinvest View Post
You will need a long period of experimenting (5-10 years) and/or you will need multiple periods of experimenting (when market is generally going down, market is going up, market is stagnant).

Would be easier doing it with historical data rather than doing the experiment actually.
Exactly.

Quote:
Originally Posted by Atiker View Post
Daily STP will mess up your bank statements.
I do daily STP as a SWP from liquid fund to equity fund.
Liquid Fund is replenished with salary every start of the month.
Yeah, this is the ideal approach. I too do the same for HDFC funds. Smooth and hassle free.

They have a modified STP where investment amount increases with falling markets and remain steady in rising markets. Works like a charm.
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