Options for purchasing Mutual Fund

POSTED BY Jeetu ON April 5, 2012 10:50 am COMMENTS (7)

I have demat account with AXIS (and no trading account).

I want to invest (lumpsum) for first time in MF and I want to keep it in demat form.

Personnel from Axis asked me to purchase the MF off-market (he will guide me for the same) and later convert it into demat form, which will take max 3 days.

Later my plan is to invest lumpsum online in MF, once I get the folio number, after investing one time.

Now, my question is whether the suggested method by axis personnel is the best, convenient and economical?

Are there any other options which I can use and get the MF directly in demat form?

7 replies on this article “Options for purchasing Mutual Fund”

  1. VIGNESH BASKARAN says:
    April 5, 2012 at 12:47 pm

    Hi

    There are three Platforms which are allowing you to invest

    http://www.fundsindia.com
    http://www.fundsupermarket.com
    http://www.moneysights.com

    I have experience with http://www.fundsindia.com and moneysights.

    U can open with any of the above two. Just speak with them and decide.

    Reply
  2. Ramesh says:
    April 5, 2012 at 12:08 pm

    Jeetu,

    Fundsindia is a good option to do online MF transactions.

    Ramesh

    Reply
  3. Ram Mohan says:
    April 5, 2012 at 11:51 am

    Hi,

    Investing in mutual funds lumpsum is one of the biggest mistakes any investor can make. if you have a lumpsum that you can invest, better to put it into a debt fund and then do a STP to a mutual fund

    See this wonderful post by Manish for more details on what STP is

    http://jagoinvestor.dev.diginnovators.site/2010/03/what-is-systematic-transfer-plan-stp.html

    Reply
    1. Ramesh says:
      April 5, 2012 at 11:55 am

      It is a myth and a wrong statement. Prove it or cite references. Putting lumpsum in a trough position of market, will fetch you great returns.

      Yes, I know what is SIP and STP.

      Ramesh

      Reply
      1. Ram Mohan says:
        April 5, 2012 at 11:59 am

        Hi Ramesh,

        If the poster who asked this question knows that the market is at bottom and lumpsum is best, then I don’t think he would be asking whether to buy mutual funds offline and convert them into online mode

        For any “normal” investor, timing the market is not recommended which was the basis for my answer

        Thanks,

        Ram

        Reply
    2. Jeetu says:
      April 5, 2012 at 1:24 pm

      Dear Ram Mohan.
      Thanks for reply.
      I will make it clear, I am NOT timing the market in Mutual Fund.
      Secondly, I will be regular investing in MF just as you do SIP, but I don’t to have a MUST commitment via SIP.
      We can do it regularly online by Mutual Fund house.

      Reply
      1. ashal jauhari says:
        April 5, 2012 at 8:31 pm

        Dear Jeetu, please open an online investing account with http://www.fundsindia.com Invest your lump sum amount in a debt fund & use STP from there to your choice of Eq. fund. I see no extra benefit of using demat account for MF investments.

        Thanks

        Ashal

        Reply

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