POSTED BY February 6, 2015 1:03 pm COMMENTS (3)
ONHi Fellows,
I have a Demat account with a private share broker and doing all the transactions with him (buying and selling of shares, MF investments). After reading a lot about the DIRECT MF investment (thanks to JI and AIFW) I have decided that I should go for the direct plans hereafter. I would like to know if there is any possibility of using the same account to buy DIRECT plans (without the broker knowing about them).
Thanks.
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No , you cant invest in Direct plans through broker . BROKER itself means intermediary .
The only way you can do it right now is directly via AMC office.
Manish
Thanks Manish,
I agree, but my question was if I buy direct will the broker come to know about this as those MF units will also be under the same demat account. Frankly speaking I don’t want my broker to know my other investments.
Not always . There are two ways to buy mutual funds .
1. Through a stock exchange model where your units are stored in demat account.
2. Non-demat format , where the units are not stored in demat account at all . Most of the people buy the 2nd way . So when you go to AMC and buy direct, the units do not get stored in your demat . So broker wont come to know !
Manish