Can I change my ICICI Direct Mutual funds investments into Direct Plans?

POSTED BY itsvibhor ON June 25, 2014 5:58 pm COMMENTS (5)

Hi,

I’ve been investing in various MF through SIP since 3 years through Icicidirect. Is it possible to change my investments in these MF to direct plans?

What are the benefits & how can I go about it?

Thanks

5 replies on this article “Can I change my ICICI Direct Mutual funds investments into Direct Plans?”

  1. Hemanth Chandra says:

    As you bought from demat account, the MF units will be in demat form.

    If you want to invest in ‘Direct’ plan, you have to invest directly with AMC or RTA(CAMS/KARVY) of AMC. This will not be in Demat form.

    So, I think as Symantak said, you have to redeem from icicidirect and buy in ‘Direct’ again. Please confirm this again with the AMC.

    Also, do remember about the Exit load, STCG charges before redeeming.

  2. Hemanth Chandra says:

    Expense ratio will be there for both ‘Direct’, ‘Regular’ plans. In “direct’, it is bit 0.5-1% less which is beneficial for the investor.

    Go through below article to know more about direct plan.

    https://www.jagoinvestor.com/2013/04/direct-plan-in-mutual-funds.html

  3. Syamantak says:

    you can not ‘transfer’ it. You need to redeem your purchases with icicidirect and purchase back in Direct mode

  4. itsvibhor says:

    I’ve heard there are benefits, like:

    *There is no expense ratio with the direct plan MF, in the long term you could save money, as against the regular MF which charge anything between 1.5% to 3% as expense ratio.
    *No brokerage is to be paid per SIP transaction. eg. Icicidirect charges Rs 33 for one of my monthly SIP of Rs 5000

    I would appreciate answers to my query.

    Thanks.

  5. Hemanth Chandra says:

    Why do u want to change to direct plan.

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