DEMAT TO FUNDSINDIA OR DIRECT?

POSTED BY Jig ON January 16, 2012 4:22 pm COMMENTS (14)

Hello,
I am right now having SIP through Demat A/c.
If i want to trasnfer the folios from my Demat to Direct AMC or Fundsindia, Is it possible? If possible then what is the procedure providing i dont want to redeem my investments.
If i choose fundsindia, will there be any annual/monthly charges even for Demat service?

What exactly the difference investing through Fundsindia or Demat A/c?

thanks

Regards

Jig

14 replies on this article “DEMAT TO FUNDSINDIA OR DIRECT?”

  1. Rama says:

    Hi Ashal,
    I am using icici direct for Demat and trading
    funds india for Mutual fund..

    i had some shares hold in icici direct account,but not an active user.. just hold it..

    let me know is there any drawbacks for converting to funds india equity compare to using icici direct.

    1. Dear Rama, can you elaborate your query as I’m unable to understand it properly.

      Thanks

      Ashal

  2. Jig says:

    I have demat with kotak. that is also trinity account which include SAVING,PINS AND MF
    they charged nil for MF investment except your regular demat charges.

    Thanks

  3. VIGNESH BASKARAN says:

    Hi

    As I am also using Fundsindia. Generally they are taking two or three days to reply back to your query when u raise it in your account. if you want anything very urgently we can call their number and ask or mail them at contact@fundsindia.com. (within one day it will be solved)

    I constantly ask them questions as I am novel to this investment. they replied all my queries but took time. then i realized that urgent issues need to be addressed from our (customer) side and followed the latter one .

    finally in the investment point of view i did not find any difficulty. I even talked with Srikanth for financial advice. But tried next time it was not possible.

    Then I learnt there is a limit for using the free service. They are satisfying all their basic requirements (Mutual fund investment).. I am satisfied with Fundsindia.

  4. Hi All

    Iam comfort with fundsindia and suggest that. ICICI Direct will charge 110/- for MF investments other than SIP

    Thanks
    Siva

  5. Dear Jig, I can not comment on dear Rakesh’s experience. Mine one is fine till date. Practically, there was/is no issue for which a need to contact customer care or for some clarification arise.

    I do hope that the future ‘ll remain same for me. Touch Wood.

    Thanks

    Ashal

  6. Jig says:

    What you say Ashal , as you are using Fundsindia since long back i think.

    Jig

  7. Dear Jig, there is no charge applicable from http://www.fundsindia.com on your investment. Their earning comes from the trail commission given to them by the AMCs against the investment done by investors using http://www.fundsindia.com

    As far as your demat account query – no matter you are using your demat for MF investment or not, the usual annual charges of Demat account ‘ll be there even if you use it only for Eq. investment.

    In that sense, it’s your personal call to move your MF investments from your demat account or not.

    Disclosure – I own a demat account of Icici-direct but using http://www.fundsindia.com for my MF investment.

    Thanks

    Ashal

    1. Jig says:

      Hello Ashal,
      You have mentioned TRAIL commission is given by AMCs. so In demat or fundsindia, TRAIL commission are not going to deduct from investor corpus. Am i taking it right way?

      Regards

      Jig

      1. Dear Jig, no matter we are investing directly with AMC or from MF agent, distributor, broker be it online or offline. The AMC ‘ll deduct FMC – Fund management charge from the corpus of the fund. The trail commission is given to the agents, distributors or brokers from this FMC is the investment was routed though these. If the investment was done directly, the AMC ‘ll pocket the FMC amount net of expenses with out sharing any penny with others (read intermediaries).

        So no matter we are investing directly or though intermediaries, the FMC ‘ll be charged on our investment in any way.

        Hope it clears your doubt.

        Thanks

        Ashal

  8. Jig says:

    But,
    I have one Demat Account which i will keep running for my Equity Investment.

    Now How are the investment differ in charges compare to fundsindia. I know features of fundsindia but if i have to pay charges of demat in any case, should i move to fundsindia or stick with Demat?

    so my question is not answered yet.

    I am in confusion

    REgards
    Jig

    1. rakesh says:

      Off late FundsIndia service has been disappointing. Their customer services does not reply to your mails. Several queries go unanswered. Even Srikanth does not reply to queries.
      Their service was very good few months back.
      Think twice ????????????

  9. Dear Jig, as you are already investing in MFs, you are a KYC completed investor. First of all open a MF investing account with http://www.fundsindia.com Once this account is active, please send the details to them as rightly stated by dear Srivatsan Ganesh in the easy transfer format.

    The transfer ‘ll take some where from 25 days to 45 days. In between you have to stop your existing SIP from Demat account & start new one from http://www.fundsindia.com

    I’m using http://www.fundsindia.com for my own investments. Instead of SIP I’m using Debt Fund – STP – Eq. fund to invest.

    Thanks

    Ashal

  10. Hi jig,

    FundsIndia does not charge any fees to the investors. There are no registration charges, no account-opening fees, no transaction charges, no SIP charges, no charges for any value added services. Also, SEBI has announced that mutual fund investments will not be subject to entry-load starting August 1, 2009. So, now all mutual fund investments made through FundsIndia will incur zero entry loads.

    To view your existing holdings (investments in mutual funds) in a consolidated fashion in FundsIndia.com, you would need to transfer them to your FundsIndia account. To make it easier for the investors, they have devised a system (called Easy Transfer) to enable investors to quickly transfer their investments to FundsIndia to benefit from a consolidated view. FundsIndia will pre-fill all the required documents and send them for you to sign and send over.

    for more details : https://www.fundsindia.com/content/jsp/corporate/faq.do#mut

    Regards,
    Sri

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