Curious viewpoints on MF platforms

[narrowgateevangelist]

@zealotx

I use Kuvera.

why does Kuvera account setup needs virtual signature? My PAN is alraedy KYC compliant through Zerodha and I remember ETMoney just fetched my KVC details without asking any signature or address details. Just PAN and DoB.

 

[stephen68]

@2ndlight As a person who has been investing in MFs for over 15 years, I have consciously stayed away from all such platforms. In the olden days, I would post the SIP renewal form, canceled cheque etc by India Post directly to the MF organization or CAMS or sometimes just walk in and do it. I used sent by normal post with a Rs 10 stamp! Have never lost any form during those times.

But once all of these MF houses introduced online SIP registration, I have been doing only that. I am very skeptical of sharing all my investments with any platform .... It is not much trouble, I invest in just 4-5 MFs at any time and always renew for a year.

 

[missions4life37]

@2ndlight I prefer direct AMC website. Yes its little bit of a hassle to login and keep track of different MFs but I am narrowing down my investments to a couple. Keeps things crystal clear albeit the extra effort worth a few minutes compared to online platforms like zerodha and likes.

 

[resjudicata]

@missions4life37 You should set up a cams/k fin id which will take 5 mins.

Mf site->cams/k fin backend processes the transaction since they are the registrars.

With two logins you get the same effect...as multiple MF sites.

Unlike MFU, you can get historical data and net banking transfers.

 

[missions4life37]

@resjudicata I have narrowed down to 2 AMCc now and unfortunately cams cover one and kfin covers other one, so might as well continue with AMC login

Btw I did setup cams & kfin account and then figured this out last year

 

[missions4life37]

@resjudicata Btw I checked again and guess what? While KFinKart shows only amcs covered under it on their dashboard, if you generate statement it gives the record of amcs from cams as well. I pushed the statement to INDmoney and voila I can see all my investments under one roof(i.e. INDmoney)

Am not comfortable giving direct access to these 3rd party sites to my mail account, so can always push these statements across whenever I want to view all MF investments under one roof now

 

[resjudicata]

@missions4life37 And vice versa from the cams site.

MF Central shows it as one dashboard by pooling data. Try it.

I just log into MFU to check the total damage (in the current scenario) on my old portfolio. ಠ︵ಠ

 

[cherrein]

@missions4life37

Keeps things crystal clear

What clarity does it add over using an investment platform?

 

[stranger36147]

@2ndlight I prefer zerodha because units are in demat form which I can pledge and get margin to trade.If you don't trade still you can use zerodha. I like to have all stocks and mf in one place.makes it more convenient

 

[2ndlight]

@stranger36147 “Get margin to trade”
How does that work?

 

[nightfall]

@2ndlight This is something that 99% of people won't ever need. This means that you can use the mutual funds as collateral to get a short term loan to make trades on a stock trading platform.

 

[stranger36147]

@nightfall Im not sure if 99% wont use but if someone is in option trading like me its a big boon!

My collateral generated 4-5% return and my option income on the pledged margin is like a freebie!

Obviously, one needs to understand the nuisances and risk of options trading.

https://support.zerodha.com/categor...o-i-pledge-my-shares-to-get-collateral-margin

 

[narrowgateevangelist]

@2ndlight so I manage my all SIP in direct fund through ETMoney. It is working very fine without any issue and unlike other platform where some users reported issue with date of actual unit allotment with recent SEBI rules. My all SIPs are processed and and unit is also allocated on next day i.e. T+1 or at max T+2 without any issues. So this is working fine for me. but ETMoney doesn't support family account (i.e. where you can manage investment of family members from single login) Now I want to start SIP from my parents account and if I want to stick with ETMoney which really works well for me, then I have to switch between 3 different login to manage SIPs and other MF investment. I am in search of other alternate where I can manage my and parents investment from single account. Any suggestion for the same?