Hi,
I am planning to move to US in couple of months time frame. As per what I have read so far there are 2 aspects I want clarity from this forum
1. what to do with existing mutual fund investments in India: I have significant corpus of equity and debt MFs via fundsindia portal.
Now I am getting some conflicting information around if I can keep that as it is without any new investments? It seems as the account linked is current a resident account I need to sell off all the MFs before I convert the account to NRE/NRO account. That’s slightly sad as I need to exit in between. Any other alternative options?
Few options I am aware are:
a) Gift money to parents and re-invest in mutual funds on their name.
b) re-invest in L&T MF from NRE account (L&T is allowed it seems)
c) invest money in some private equity fund (there is one company of my relative nine river captial)
2. Investing once I move to US for fresh investments
options are limted. only public AMC allowed is L&T. Not sure if they have good funds.
investing directly in stocks seems non-optimal and too much headache to me
may be ULIPs like icici elite wealth 2 but they are high cost I feel
Please share your suggestions