How to create second folio?

POSTED BY SIVA PRASAD RAVIRALA ON February 15, 2013 7:07 am COMMENTS (10)

Dear Sir,

Please tell me how to create second folio thru AMCs Websites.

No AMC Website has option to create second folio. We need to register as first time investor, though we are not.. Is this right way?

Even after creating do we need another login ID and password for new folio.

I think,for Quantum, they will ask for another login ID and password while creating new folio. As there is mapping option, why to create another login ID.

I need second folio in HDFC, ICICI, Quantum, Canara and SBI. Please help

Thank You

10 replies on this article “How to create second folio?”

  1. Yes Ashal, Now I am clear. I did not expect this much of care from you.

    Very very thanks. This forum is very much helpful to me.
    Thanks to one and all who are involved in running this forum successfully, directly or indirectly.

    Bye

  2. Dear Siva, I do hope that dear Ramesh’s reply is enough for you now.

    Thanks

    Ashal

  3. Dear Ramesh & Ashal,

    I got the your point.
    Another point is as I am starting to invest in Direct Funds, I want to start fresh in new folios so that there is no confusion and mix of old regular plans and direct plans. The same folio is showing different amounts between fundsindia and AMC website. That’s why I scared.

    Ok. Thanks for your concern

    1. Ramesh says:

      If you can manage direct plans on your own, you should transfer All of your non direct plans to their direct counterparts in 1 year. Don’t get confused about too many plans during this year.

      Keep your investment ideas in a separate piece of paper, so that you don’t get confused.

      Patience pays.

      Also, the amount in AMC is the correct amount.

  4. Karthik says:

    the idea of having multiple folios for multiple goals appears to be childish.
    Ramesh has clearly said how it has to be dealt.

  5. Dear Siva, under a single folio, you can manage better all the investments. Please read dear Ramesh’s reply 2-3 times to understand the logic.

    Thanks

    Ashal

  6. Dear Ramesh,

    To track funds setup for different goal oriented portfolios.
    I mean for retirement I will invest in HDFC EQUITY and for child marriage I will invest in HDFC CHILD GIFT INVESTMENT and HDFC BALANCE.
    Seperate folios for seperate portfolios.

    AM I clear?

    1. Ramesh says:

      Ok.

      So, you have 2 folios which will give you different amounts according to your goal.

      Now, if you just keep the same folio, with those funds, you just have to add differently. That is all.
      So, in folio A, the hdfc equity fund denotes Retirement money, while gift investment and balanced are marked for child marriage. The marking of folios does not matter at all.

      I will take it a bit further.
      Suppose, you like HDFC Equity to be part of both retirement as well as child marriage goals. Even then, you can do that same using out-of-AMC accounting and portfolio calculation methods like VRO / moneycontrol / morningstar free portfolio management services or Mprofit / Perfios, as per your needs.

      The AMC calculations will be problematic both when you have multiple AMCs as well as things which you have not given to AMC like cash/FD,etc.

      Moreover, a single folio is easier and more efficient for you as well as the AMC.

  7. Ramesh says:

    What will be the benefit of a second folio?

  8. I don’t think this is possible online with existing account. A second folio need not have the same account holders as the first. So KYC info has to be verified (whatever method each amc uses online and offline). So the first investment in new folio will like a fresh investment.
    Once you get the approval and a new folio no, you can ask the amc to map the new folio with your old acc. This may not be possible for all amcs (possible with Sundaram mutual)

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