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  #1  
Old 4th January 2013, 02:56 PM
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Default New Direct Plan for Mutual Funds



New Direct plan for mutual funds from 1 Jan 2013.

The expense will be different for units bought directly and those routed through broker.


Quote:
The cost of holding your funds in direct plan will be cheaper than regular plan. Direct plan is expected to be cheaper by about 0.75% for equity funds and 0.50% for debt funds.
Direct Plan from mutual funds - Good or bad? - Moneycontrol.com

Other links -

Should you opt for the direct plan in mutual funds? - Economic Times

Business Line : Markets News : Direct investment may help HNIs, institutions more
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  #2  
Old 4th January 2013, 03:15 PM
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I checked on hdfc site where my SIPs are running.

For units bought this year onwards the NAV is more than that of the units bought last year even though both were bought as "DIRECT".

NAV for

HDFC Top 200 Fund-Growth => 231.428
HDFC Top 200 Fund-DP-Growth => 231.435

PS: I forgot how to upload image on this site. Can someone please educate me or point me to a link.
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  #3  
Old 5th January 2013, 10:12 AM
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Steep exit loads on direct plans to discourage investors:

Mutual funds try to 'switch' off direct plans
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  #4  
Old 5th January 2013, 10:48 AM
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Quote:
Originally Posted by Atiker View Post
For units bought this year onwards the NAV is more than that of the units bought last year even though both were bought as "DIRECT".
I am not sure, but isn't that how it should be?

From the link that you provided, it seems the earlier plans had commissions:

Quote:
Currently all investors irrespective of their mode of entry are charged commission as well as the fund management fees. These are then deducted from the returns of the scheme and passed on to the AMC and the distributor.
Business Line : Markets News : Direct investment may help HNIs, institutions more
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  #5  
Old 5th January 2013, 12:20 PM
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The earlier funds had zero entry loads (upfront commissions) but the trailing commissions were deducted similar to existing funds.

As there were no distributors (since it was in DIRECT mode) the fund houses use to pocket the trailing commission amount.

From 1st-Jan 2013, all existing SIPs in direct mode have been switched to new direct funds.

So for ongoing SIPs now I see two funds, the regular one till 31st Dec and new SIPs being channel into the Direct Plan with a higher NAV effective 1st Jan.
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  #6  
Old 5th January 2013, 05:14 PM
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I am not sure if it is accurate, but this article has a table of trail commissions:

How much does Mutual Funds Agents earns in commission?

From the same article:

Quote:
Note : The trail commission is deducted out of NAV anyways, whether you invest directly or through some broker. If you invest directly the trail commission is pocketed by AMC itself.
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  #7  
Old 5th January 2013, 06:31 PM
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Quote:
Originally Posted by Atiker View Post
For units bought this year onwards the NAV is more than that of the units bought last year even though both were bought as "DIRECT".

NAV for

HDFC Top 200 Fund-Growth => 231.428
HDFC Top 200 Fund-DP-Growth => 231.435

Quote:
Originally Posted by Alchemist
I am not sure, but isn't that how it should be?
Yes Alchemist it should be and it is.

My contention is that the old units (which were bought Directly) should have been migrated to the new "direct" units.

To avoid exit load I will sell the old ones once the locking period is over and move it to direct scheme.
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  #8  
Old 5th January 2013, 10:23 PM
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Quote:
Originally Posted by Atiker View Post
Yes Alchemist it should be and it is.

My contention is that the old units (which were bought Directly) should have been migrated to the new "direct" units.

To avoid exit load I will sell the old ones once the locking period is over and move it to direct scheme.
Exactly.

In my case, the lockin in tax saving funds will only end after 3 years, hence I have no option but to continue in the originals funds only, while HDFC will enjoy the trailing commissions.

Rules are meant to be broken. No matter how much SEBI tries, the mutual fund AMCs will always find a way through.
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  #9  
Old 6th January 2013, 09:28 AM
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So what exactly is this?

If I want to buy a Birla Sunlife MF, it's better for me to buy it directly from Birla rather than from ICICIDirect or through my Citibank Acct - is this the gist of this new thing?

If yes, some more questions

1) What about existing MFs I already have in my ICICIDirect Account?
2) How easy will it be to buy and sell directly than through ICICIDirect?
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  #10  
Old 6th January 2013, 12:55 PM
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If we have to manually move everything to the direct option (even for the funds which we applied with "DIRECT" in the distributor's name), then that would be really cumbersome. Switching the SIPs will be even worse, since I have more than a couple. I hope the investors get an option to switch to the other plan in a simple way.
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  #11  
Old 6th January 2013, 08:39 PM
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Quote:
Originally Posted by Atiker View Post
Yes Alchemist it should be and it is.

My contention is that the old units (which were bought Directly) should have been migrated to the new "direct" units.

To avoid exit load I will sell the old ones once the locking period is over and move it to direct scheme.
Doubt in new rules.

Which NAV will be applicable for direct lump sum purchase and SIP from direct fund house?

Why need to sell all units before 1st January? Isn't existing SIP continue automatically to direct plan?

Happy Investing!
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  #12  
Old 6th January 2013, 11:42 PM
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Quote:
Originally Posted by San Yad View Post
Doubt in new rules.

Which NAV will be applicable for direct lump sum purchase and SIP from direct fund house?

Happy Investing!
Now for every scheme there are two sub schemes with two different NAVs.

From 1st Jan onwards any direct lump sum or direct sip will result in getting the units of direct scheme.

e.g for HDFC TOP 200 the two schemes are

HDFC Top 200 Fund-Growth
HDFC Top 200 Fund-DP-Growth


Quote:
Originally Posted by San Yad View Post
Why need to sell all units before 1st January? Isn't existing SIP continue automatically to direct plan?
I didn't said to sell units before 1st Jan. What I meant is sell the units once the locking period is over or minimum period past which there is no exit load charge, is reached.

Because the fund charges for non direct schemes will be more than direct schemes.

Yes, existing SIPs will now get you direct units but old units bought through the same SIP will be non-direct units and will continue to attract trailing charges.
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  #13  
Old 13th January 2013, 10:34 AM
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Quote:
Originally Posted by vinvest View Post
So what exactly is this?

If I want to buy a Birla Sunlife MF, it's better for me to buy it directly from Birla rather than from ICICIDirect or through my Citibank Acct - is this the gist of this new thing?

If yes, some more questions

1) What about existing MFs I already have in my ICICIDirect Account?
2) How easy will it be to buy and sell directly than through ICICIDirect?
Any idea about my questions?
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  #14  
Old 8th April 2013, 06:16 PM
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Direct Plan of Mutual Funds – Should you Invest or not ?

Has anyone started investing directly?

If so what is the experience because I can check on fundsindia directly on single click when I made investment. Is it so easy for direct plans?
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  #15  
Old 9th April 2013, 05:25 AM
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Did not see any difference in direct and regular plan except little difference in price.

It is believed that direct plan has no or very minimum charges.

In sum I did not see any difference in investing "click" procedures.

Happy Investing!
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  #16  
Old 9th April 2013, 09:27 AM
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Quote:
Originally Posted by San Yad View Post
Did not see any difference in direct and regular plan except little difference in price.

It is believed that direct plan has no or very minimum charges.

In sum I did not see any difference in investing "click" procedures.

Happy Investing!
The main difference is in expense ratio as mentioned in link I provided.

Though the difference right now is as small as 0.7% one should not forget it started in January this year and 0.7% difference in 4 months is not pretty bad.

Even say, till end of year it touches 1% then also slowly in next 5 years it will further increase and then we and most will try to catch the bus.

Also one older link of same site had shown how expense ratio eats chunk in longer term where a normal plan values 75 lakhs whereas without expense ratio it valued around 90 lakhs to 1 crore.

But the most important question remains is that is it easy to invest in such plans?

I login on my fundsindia account. And say i wanted to invest in Reliance banking fund, i just put a search and click the option. If i have investment in any other reliance fund it automatically takes that folio number and just 4-5 pages of amount mention, clicking not doing third party investment and all and it gets done.

And within two business day as units allocated it got under my investment table with present value, investment value, average yearly return and absolute return all details are sum up.

But if in direct plan it's just like camsonline mail that yearly once you get mail to track the present value on the date the mail was created then it won't be easy job to track the performance.

Anyways, sooner or later we too will migrate seeing return. I might try with a small amount soon to check how it works.
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  #17  
Old 9th April 2013, 10:53 AM
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Quote:
Originally Posted by magnet View Post
Has anyone started investing directly?
Yes, I am doing direct investment for all my sips except IDFC, (as IDFC website doesn't support online SIPs yet)

Atiker's SIP Portfolio
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  #18  
Old 11th April 2013, 12:40 AM
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Quote:
Originally Posted by magnet View Post
Direct Plan of Mutual Funds – Should you Invest or not ?

Has anyone started investing directly?

If so what is the experience because I can check on fundsindia directly on single click when I made investment. Is it so easy for direct plans?
I shifted my all MF plans to their corresponding direct plans on 3rd Jan. The only issue with Direct plans (obvious from the name) that they are not offered from any brokerage house. So anyone who wants to shift their portfolio to direct plans, do the following:

HDFC Mutual Fund: Gather the folio no. from the 3rd party site where you had invested. Visit the HDFC Mutual fund office and submit an application for HPIN.

In 3-5 days, you will receive HPIN in your mail box and then you can proceed with the online account and switch.

ICICI Pru: You don't need to visit their office too. Just go to icicipruamc website and activate your online account and then switch.

Franklin: Similar to ICICI. Simple and complete online.

Note* All the above information given is from my 1st hand exp.
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  #19  
Old 11th April 2013, 01:26 AM
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Quote:
Originally Posted by nitinku5021a View Post
ICICI Pru: You don't need to visit their office too. Just go to icicipruamc website and activate your online account and then switch.
If you hold ICICI Pru through ICICIDirect, is it still considered 3rd party?
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  #20  
Old 11th April 2013, 06:57 AM
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Is it worth it to convert all units of previous regular plans mutual funds to direct plan?

If so then how to convert all previous units into direct plan using online a/c? or have to visit individual fund house to do so?

Assuming that person holds online a/c with individual fund house.

Another way might be, just sell all regular plan units and buy direct plan units at the same time after completing 1 year to avoid any exit load if any.

And any charges for that?

Happy Investing!
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  #21  
Old 18th June 2014, 02:32 PM
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Which Balanced Fund has the least one-time/recurring expenses?

I guess the larger the fund, the lower the expense. So has to be one of the following, but not able to get the data anywhere:

HDFC Prudence - Direct
HDFC Balanced - Direct
ICICI Pru Balanced - Direct

Also, what is the best way to set up SIP? Direct via the MF?
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  #22  
Old 18th June 2014, 05:54 PM
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Quote:
Originally Posted by sudhashbahu View Post

Also, what is the best way to set up SIP? Direct via the MF?
Direct via MF website.
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  #23  
Old 19th June 2014, 11:37 PM
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Quote:
Originally Posted by sudhashbahu View Post
Which Balanced Fund has the least one-time/recurring expenses?

I guess the larger the fund, the lower the expense. So has to be one of the following, but not able to get the data anywhere:

HDFC Prudence - Direct
HDFC Balanced - Direct
ICICI Pru Balanced - Direct

Also, what is the best way to set up SIP? Direct via the MF?
HDFC Prudence has the lowest cost. With Prashant Jain at the helm one should not think much

Hybrid: Equity-oriented - Fees & Details - Value Research Online
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  #24  
Old 20th June 2014, 10:45 AM
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Quote:
Originally Posted by Prudent_Investor View Post
HDFC Prudence has the lowest cost. With Prashant Jain at the helm one should not think much

Hybrid: Equity-oriented - Fees & Details - Value Research Online
Thanks for confirming. I plan to start 5 years SIP in that fund.
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Old 24th June 2014, 10:15 PM
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Quote:
Originally Posted by vinvest View Post
If you hold ICICI Pru through ICICIDirect, is it still considered 3rd party?
Too late reply but better than never. Yes, even if you hold any MF ( including ICICI MF) through ICICIDirect , it is considered 3rd party.

Please go to their AMC website to select the direct fund.
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  #26  
Old 24th June 2014, 10:17 PM
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Quote:
Originally Posted by sudhashbahu View Post
Thanks for confirming. I plan to start 5 years SIP in that fund.
You shouldn't look for expense ratio as criteria in Eq. oriented MFs. Go for performance. In Debt/Liquid fund, it makes sense.
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  #27  
Old 25th June 2014, 10:22 AM
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I plan to invest in either HDFC Prudence or Balanced (Direct) plans via SIP route.

However I have a lumpsump amount. What is the best way of investing this so that regular withdrawals can be used for SIP?
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  #28  
Old 25th June 2014, 11:07 AM
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Quote:
Originally Posted by sudhashbahu View Post
I plan to invest in either HDFC Prudence or Balanced (Direct) plans via SIP route.

However I have a lumpsump amount. What is the best way of investing this so that regular withdrawals can be used for SIP?
SIP is better way than lumpsump.

Withdrawal you can do anytime but most of the MF have 1% or so charges if withdraw before 1 year.

The units which remains 1 years can withdraw without any exit load.

If you are looking for long term investment. You should not look for withdrawals except in emergency cases.

Happy Investing!
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  #29  
Old 25th June 2014, 11:23 AM
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SanYad ji,

I did not mean withdraw from SIP.

I meant invest lumpsump somewhere and withdraw from that regularly to fund the SIP.
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  #30  
Old 25th June 2014, 12:22 PM
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Originally Posted by sudhashbahu View Post
SanYad ji,

I did not mean withdraw from SIP.

I meant invest lumpsump somewhere and withdraw from that regularly to fund the SIP.
In that case park in the funds in lump-sum in short term/medium term debit funds and instruct for systematic Withdrawal Plan (SWP)/STP from there to pay for your SIP.

That way you can as far as I think.

Happy Investing!
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Old 25th June 2014, 12:37 PM
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Originally Posted by San Yad View Post
In that case park in the funds in pump-sum in short term/medium term debit funds and instruct for systematic Withdrawal Plan (SWP)/STP from there to pay for your SIP.

That way you can as far as I think.

Happy Investing!
Thanks. Could you suggest any such fund? An HDFC one would be easier I guess.
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  #32  
Old 26th June 2014, 07:12 AM
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Originally Posted by sudhashbahu View Post
Thanks. Could you suggest any such fund? An HDFC one would be easier I guess.
Yes, HDFC MF also have that option.

Reliance and Birla Sunlife also have the same.

ICICI Pru Life, I have not tried, I am sure that also has.

Happy Investing!
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  #33  
Old 8th April 2015, 01:49 PM
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for a new direct plan all you have to do is visit ican financial solutions site and its open for registration for free now and they have great tools to help.
iff you want i can make my adviser call you and they dont charge atall for advice.
e.mail me on nikidattani@ymail.com
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