@karenhampton I don't know who made this perception about AMC websites being poor. I use kuvera for tracking purposes only and always invest through AMC websites.
This gives me a peace of mind because even if transaction fails the reference number I have is the one issued directly by AMC which can be raised to them in case of concerns rather than first going behind kuvera and then they dilly-dallying it to AMC and then both of them playing blame games.Infact one place where this has hurt me the most is in Amazon Pay ICICI credit card. Both the customer care teams are so pathetic that since it's issuance to me 6 months ago, my reward points have never been credited as Amazon pay balance.
Stay away from co-branded, multi corporate mechanisms is what I have understood. Their internal lack of coordination makes life hell of the end consumer.
@sn1ff1es Damn man. This sucks. Also strange pattern of down voting going on here. Who down voted your comment? You're not even being critical of Kuvera here.
@karenhampton Why on earth you folks dont use MFUOnline ?? It looks like it was built on 1990s but it is robust - You transfer funds using NEFT - They will try their best to credit the AMC account ASAP and you will get the NAV on same day - It is very transparent and you can see the exact time AMC got their amounrt. It does not have any fancy analytics as it is built by AMFI but why you need fancy analytics to tell that you got 5-6% return PA for liquid fund, Arbitrage fund ? You can anyway track the equity fund via valueresearchonline and other tools. Even when the entire world was crying over Feb 1st payment gateway failure of auto debit , NCH etc, MFU Online NEFT transfer worked like a charm. Only bad thing is NEFT takes sometimes 2 hrs to credit the target account so make sure you transfer in morning to give some time for MFU automated systems to transfer it to AMC account.
@karenhampton Ditto happened to me for 2 funds on 26 Feb. Till late yesterday, it was showing 26's NAV but when I checked the CAS today, the NAV effective will be of Mar 1. That's not fair and highly irritating as I had also placed a lumpsum amount well before the cutoff. Sometime around 11.30 am.
And what surprised me and irritates me more is that very few people are calling Kuvera out (even in this thread) for a mistake that's clearly its.
But I am more concerned about a safe alternative here as this seems to be an industry-wide problem.
@karenhampton wow, I thought I was the only unlucky one! I had the same problem as you with Kuvera, but on 22nd Feb. Stupid of me thought it's a one of glitch and payment would automatically reverse so I went ahead and redid the same transaction again to get the same error once again! I had to contact their support and send them bank statements to get it sorted out. I ended up getting NAV of next day.
I no longer feel confident using Kuvera for lump-sum purchases where I want NAV of purchase date. Now I use AMC website to buy mututal fund on lump-sum. As an added advantage, cutoff at AMC is 3PM compared to 2:30PM with Kuvera.
Very good point. Thanks for mentioning it. You have the added advantage of using that additional half hour to assess the market if you're investing in index funds. It's best to go through the AMC's website. I'll have to do the Excel sheets myself but at least I'll not lose money/opportunities.
