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Mutual Funds

Wealth Duniya offers online investment in mutual funds through click of a button. Through online platform, you can get access to wide variety of schemes like equities, liquid, elss and etc. Get all the family investments under one roof.

MAJOR TYPES OF MUTUAL FUNDS

The primary objective of the equity mutual fund is to provide capital growth / appreciation by investing in the equity and equity related instruments of companies over medium to long term.

The schemes in this asset class generally invest in fixed income securities such as bonds, corporate debentures, government securities (gilts), money market instruments, etc. and provide regular and steady income to investors.

The strategy for liquid funds include investments in short investment horizon, which includes ‘cash’ assets such as treasury bills, certificates of deposit and commercial paper. It used for parking surplus cash by investors and earn superior returns as compared to savings and fixed deposits.

A hybrid fund is a category of mutual fund that is characterized by portfolio that is made up of a mix of stocks and bonds, which can vary proportionally over time or remain fixed. Eg:- Balanced Funds

ELSS is a type of diversified equity mutual fund which is qualified for tax exemption under section 80C of the Income Tax Act, and offers the twin-advantage of capital appreciation and tax benefits. It comes with a lock-in period of three years.

Account opening

How do I open an account with you?

To open an account you will be required to submit your details such as PAN, address, bank account details, etc., We will then get in touch with you with a pre-generated application form and other documents that will require your signature to open an account with us. This will be a one time documentation process.

At the time of account opening, you are asking for a cancelled cheque (original cheque with ‘Cancelled’ written across). Why do you need this?

One of the important regulatory roles that we perform as an online service is to make sure that the bank account of a customer is in their name. A cheque with pre-printed name, or a cheque without name plus an account statement are what we use to do so. Given the importance of this detail, we feel it would be unwise of us to compromise on this request and accept alternatives.

In future, if you want to add or change a bank account, we will ask for similar information. We feel that doing this would be important to protect the sanctity of online transactions done through us.

SIP

How does SIP investments with your technology partner FundsIndiaAdvisor.com work? Why is there a delay between the date of debit and the date of investment?

As part of the online channel partner agreements that our technology partner has signed with mutual fund companies, we are required to manage the debit/investment process for SIP investments. This has both advantages and disadvantages. Advantages are that we can offer SIP on any day of the month to our investors regardless of constraints in this regard set by the mutual fund companies. Also, we can stop, re-start and change the scheme of the SIP investments more dynamically than a regular mutual fund SIP.

The disadvantage is that when we make a debit for the investment, it can take upto 4 working days (depending on the bank and the location) to get information about the debit (whether it was made successfully or not). It is only after we receive this information can we make the investment behalf of the investor. Please note that we do not have your money in the interim and we do not accrue any interest for these 4 days.

However, from the investor’s perspective, this should not matter as the debit is made on their account on the appointed date, and the investment is made very shortly thereafter. The difference of one or two days should not matter over the long term.

Payments

I tried to make an investment online using netbanking. The transaction did not seem to complete successfully, but the amount has been debited from my bank account. What happens now?

The online payment gateway works without issues most of the times, but such issues happen from time to time.

In such situations, typically, we have not yet received the amount in our account to process your transaction. The money will be put back in your bank account within two business days. If it does not, please let us know and we’ll follow up on your behalf.

Can you complete a payment process on behalf of a client?

We can initiate a new investments or SIP to our clients, but the ability to complete a payment process shall rest totally with the client.

Transfers

I have transferred a mutual fund to my online account. It is currently offline in my account. How can I redeem this fund if I want to?

When your holding is offline, we need to follow an offline process (based on paper letter request) to redeem your funds. Please login to your account, and go to ‘Mutual Funds’ and click on Redemptions. Your offline folios will be listed separately. If you select an offline folio for redemption (by filling in the redemption amount or units), a redemption letter will be generated for you. This letter will be available in your account’s Downloads section under the title “Offline redemption PDF downloads”.

Please print and sign the letter. You can either hand it over to your advisor or locally at an AMC office. The redemption request will be processed by them thereafter.

I have some mutual fund investments through another online channel. How do I transfer them to your online account?

To transfer a mutual fund holding that is currently being held through another online channel, do let us know the details of investments, we will arrange the forms to transfer it on our portal.

I am planning to transfer some folios to my online account. Some of these folios have SIPs that are currently active. What will happen to them after transfer?

When a folio with an active SIP gets transferred to our portal, the SIP can get stopped by the AMC. The investor would need to restart the SIP via FundsIndiaAdvisor. We recommend that investors pro-actively to stop the SIP, transfer to FundsIndiaAdvisor and then restart it.

Account Changes

I just moved residences. How do I change my address in your records?

For all KYC compliant investors, we need to do the needful for the KYC records as well. For that, we need a few things from you. Do let us know, we will arrange the KYC modification form.

How do I change my registered bank account in FundsIndiaAdvisor.com?

To change your registered bank account, we will need a request letter from you to make the change, and a cancelled cheque (with your name) for the new bank account. We will arrange the paperwork for you.

Miscellaneous

I filled my KYC application form and sent it to you and it was processed. Now, when I download the statement from the AMC, it says that my KYC is not completed. How come?

It is ok that the AMC records are showing that you are non-KYC compliant at this time. The way this works is that Karvy or CAMS receive all application from online platforms like us, and process the investment without issue. They store all the applications as KYC non- compliant initially. After that, periodically, Karvy and Cams check with the IT department (to match name and PAN) as well as CVL India to check on KYC status, and update their database in mass. They do not do it every day or at the time of the investment. They do it in bulk every month or so.

The key thing to note is that this is not an official indication that you are not KYC compliant. CVL India’s record is the official record. So, you need not worry that the KYC information here is not right.

I tried purchasing IDFC Premier equity fund, but could not. Do you not offer this scheme?

IDFC Mutual fund company has closed the Premier equity fund for bulk investments. They allow only SIP transactions on it. Hence the restriction. You can still setup a SIP on this scheme using your FundsIndiaAdvisor account.

How secure is my data with FundsIndiaAdvisor.com?

We and FundsIndiaAdvisor.com places utmost importance in the protection of investor data. Our services are hosted in a top-security, tier-4 data center outside India. The data is stored in a continuously replicated model and is also backed up daily. Network communication with the browsers are protected with 256-bit encryption using a Thawte issued security certificate.

What will happen to my investments if suddenly your website shuts down?

At the outset, our technology partners are a well-founded company with a sound business model and excellent financial backing. We will be here to serve our customers for a long time to come. However, we can also re-iterate that all the investments – mutual funds, equities, NPS, deposits – made via FundsIndiaAdvisor are made entirely in the name of the investor. These investments will be fully and freely available for direct access by the investor at any time should something happen to us. As an investor, you do not need to worry on this count.

Mutual Funds

What do you mean by “value-added”?

FundsIndiaAdvisor.com, our technology partners is not merely a platform for buying and selling mutual funds.

For example, in mutual funds, an investor can use a trigger-option to specify when they want to enter or exit a fund. To illustrate, an investor could specify a trigger to say that they want to buy a fund when the Sensex hits 12000, and sell it when it hits 18000. Or they could say that they want to book profits when their scheme gains by 20%.

Another example of value added service is the ability to do portfolio-level SIP which means you can now have an SIP on an entire risk-balanced portfolio as opposed to a single scheme.

Also, we have a state-of- the-art planning engine that lets you track and analyze the investor’s portfolio so investors can plan their financial goals. Once you create a plan, you can link it to the actual investments you make towards the goals. This will enable you to track to see how your investments are performing towards realizing your goal.

How does the investment process work?

Once we open an account for you , you can login and start investing in a variety of ways – investing in a new scheme, establishing a SIP, establishing a trigger point to buy etc. We will have access to a variety of options to view and advice investors on their portfolios. Investors will also have various means to interact with us to get advice on what to invest in. Based on our advice an investor can select the scheme, select the amount to invest, login to their bank account, transfer the money, and that’s it. No more forms to fill out or cheques to write.

Also, please note that the investment account opening process has to be completed only once. After that, you can invest in any fund of your choice as often as you choose.

Is it possible for you to place a redemption / switch request on behalf of your client?

We will not be able to place redemption / switch request on behalf of clients. Although we will be able to create the recommend transactions of Redemption and Switch, the ability to redeem / switch investments will remain completely with the client.

What are the mutual fund companies that you support for online investments?

We are “”empanelled”” (partnered) with almost all the mutual fund houses in India. We have “”online channel partner”” agreements that enable us to sell schemes online with the following mutual fund houses:

1. Axis Mutual Funds
2. BOI AXA Investment Managers Private Limited
3. Birla Sunlife Asset Management Company Limited
4. BNP Paribas Mutual Fund
5. Baroda Pioneer Asset Management Company Limited
6. Canara Robeco Asset Management Company Limited
7. Deutsche Asset Management (India) Private Limited
8. DSP BlackRock Mutual Fund
9. Daiwa Mutual funds
10. Edelweiss Asset Management Limited
11. Franklin Templeton Funds
12. Goldman Sachs Asset Management Company Limited
13. HDFC Mutual Funds
14. HSBC Global Asset Management India
15. ICICI Prudential Mutual Fund
16. IDFC Asset Management Company Private Limited
17. IDBI Mutual Fund
18. Indiabulls Mutual Fund
19. ING Investment Management (India) Private Limited
20. IIFL Mutual Fund
21. JM Financial Asset Management Private Limited
22. JPMorgan Asset Management India Private Limited
23. Kotak Mahindra Asset Management Company Limited
24. L&T Asset Management Limited
25. LIC Mutual Funds
26. Mirae Asset Global Investment Management (India) Private Limited
27. Morgan Stanley Funds
28. Motilal Oswal Mutual Funds
29. PineBridge Investments Asset Management Company (India) Private Limited
30. Principal Pnb Asset Management Company Private Limited
31. Pramerica Mutual Fund
32. Peerless Funds Management Company Limited
33. PPFAS Mutual Fund
34. Quantum mutual funds
35. Reliance Capital Asset Management Limited
36. Religare AEGON Asset Management Company Private Limited
37. SBI Mutual funds
38. Shriram Asset Management Company Limited
39. Sundaram Asset Management Company Limited
40. Taurus Asset Management Company Limited
41. TATA Mutual fund
42. UTI Asset Management Company Private Limited

How do I transfer the money for my mutual fund investments?

An investor can transfer money to fulfill their investments by using the net-banking facility of their respective bank.

What banks are you partnered with?

The banks that we have partnered with are banks an investor can connect to directly from FundsIndiaAdvisor.com to fulfill their investments. This list of banks include:

1. Allahabad Bank
2. Axis Bank
3. Bank of Bahrain and Kuwait
4. Bank of Baroda
5. Bank of India
6. Bank of Maharashtra
7. City Union Bank
8. Corporation Bank
9. Central Bank of India
10. Deutsche Bank
11. Dhanlaxmi Bank
12. Development Credit Bank
13. Federal Bank
14. HDFC Bank
15. ICICI Bank
16. IDBI Bank
17. Indian Overseas Bank
18. Indian Bank
19. ING Vysya Bank
20. Indusind Bank
21. Jammu & Kashmir Bank
22. Karnataka Bank
23. Kotak Mahindra Bank
24. Karur Vysya Bank
25. Oriental Bank Of Commerce
26. South Indian Bank
27. Standard Chartered Bank
28. State Bank Of India
29. State Bank Of Mysore
30. State Bank Of Hyderabad
31. State Bank of Travancore
32. Tamilnad Mercantile Bank
33. Union Bank of India
34. United Bank of India
35. Vijaya Bank
36. Yes Bank

What if I have an account in another bank?

If you have an account with one of our banking partners, the investment process would be seamless for you. On the other hand, if you don’t, it would still be possible to invest with FundsIndiaAdvisor. In this case, once you finalize an investment through our website, you can do an electronic fund transfer (NEFT/RTGS) specifying your user id and transaction to our ICICI bank/Yes bank account to enable us to fulfill your transaction.

Why I am not able to transfer funds from HSBC/Citi bank to your portal through payment gateway?

If the client is having HSBC and Citi bank account ,one cannot do transfer through payment gateway but he can use all other payment options available with the platform e.g. NEFT /RTGS/Cheque etc. The reason for this exception is tech process does not support Citi bank and HSBC bank for payment through the payment gateway.

I have mutual fund investments in a variety of schemes already? How can I consolidate them for viewing in FundsIndiaAdvisor?

To view your existing holdings (investments in mutual funds) in a consolidated fashion in FundsIndiaAdvisor.com, you would need to transfer them to your FundsIndiaAdvisor account. To make it easier for the investors, we are devising a system (called Easy Transfer) to enable investors to quickly transfer their investments to FundsIndiaAdvisor to benefit from a consolidated view. FundsIndiaAdvisor will pre-fill all the required documents and send them for you to sign and send over.

How do I add my spouse/others as a second investor in my account?

With us, you can use a single login id to access your family’s investments in one place. If you would like to add another person from your family as an investor (either jointly or separately), you would need to click on the ‘Add Investor’ link and fill out their information. A pre-filled application form for the new investor will be generated. This form needs to be sent to your advisor with the relevant documentation. Investments can be made in the name of the new investor after we receive and activate the account.

Will I be able to add additional members as Investors under the same login?

Yes, you can log into your account and add additional investors under the same login

After adding additional investors, will I be able to view all our investments in one place?

Yes, investments made under different investors (that were created using a single login id), can be seen in one consolidated portfolio view as separate investments. For example, a husband might have invested in a few schemes, a wife in a different set of schemes, and both of them jointly in a third set of schemes. All these investments can be viewed in a consolidated fashion in the portfolio screen when all these three accounts have been created under a single login id.

I am NRI. Can I invest in mutual funds through FundsIndiaAdvisor?

Yes, NRIs can open account and invest in mutual funds through us. Please contact us for more insights.

What is your cut-off time for mutual fund transactions?

For investment transactions, the cut-off time for all non-liquid fund transactions of value less than Rs 2 lakh (in a single scheme) is 2 PM on business days for the transactions to be processed with the same day NAV. For liquid funds (any amount) and for non-liquid fund transactions greater than or equal to Rs. 2 lakh (in a single scheme on a single day), the cut-off time for same-day NAV will be 1 PM.

For non-payment gateway transactions (NEFT and ICICI fund transfers), FundsIndiaAdvisor cut-off time for same day execution is 1:45 PM. That is, transactions for which the transfer details are updated at FundsIndiaAdvisor site on a business day before 1:45 PM will be executed on the same business day. Transactions completed after the cut-off time will be executed the next business day.

I have placed a redemption request, how long does it take for the money to get credited into my bank account?

Redemption requests placed before 2:00pm on a business day will be credited into your account as per the following schedule.

Equity funds – 3 business days
Debt funds – 2 business days
Liquid funds – 1 business day.

Redemption requests placed on non-business days will be taken on the next working day and will then commence as per the above schedule. Please note that some international funds could take up to 10 business days for payout.

From where I can access my Capital Gains Statement?

All the statement pertaining to your transactions and investments are readily accessible through our online login. The different reports are Capital Gains, Transaction, Payments and etc.

How do I verify my mutual fund investments with you?

There are well-defined ways of doing that. We will provide you with the folio number of your investment that is on the records of the mutual fund houses and their back-offices. You can use this number to contact either the fund house or their back office to verify your investment. If your investment is with a CAMS (one of the back office services) supported mutual fund house, you can use their mail-back service (available on their website) to verify your investment.

How safe is my money with your technology?

When one invests through FundsIndiaAdvisor, Funds will be transferred via our payment gateway (TPSL, an ICICI-ventures entity) to our bank account, which is with ICICI Bank. There are three records for every transaction – one with your bank account, one with TPSL and the third with our bank account. Any missing funds can be traced without error. This happened once to one of our investors – he paid through the payment gateway at the stroke of midnight on a Thursday night. Probably due to the date change in the middle of transaction, his account got debited, but the money did not reach our accounts. He informed us about the incident, we worked with our payment gateway and ensured that the money got back into his account in two days.

Can I do SIPs with you?

Yes, we support online SIP.However, SIP with FundsIndiaAdvisor works a little differently. You can choose any date between 1 st and 28 th as SIP date.

How can an investor obtain statements for their mutual fund investments using Cams Online?

Please follow these steps to obtain AMC statements for your mutual funds using Cams Online:

1. Please go to www.camsonline.com
2. Click on ‘Online Services for Investors’ (second link)
3. Please select Mail back Services (click on ‘Check it Out!’)
4. Click on “Consolidated Account Statement – Cams+Karvy+FTAMIL’
5. Please provide your registered email address, and a password (need not be your email password – this is just a password that Cams will use to encrypt the file that they will be sending you).

You will receive your statement via email within an hour. Please use the password you provided to open the statement. You can also request a single folio statement by choosing ‘Single Folio Account statement’ instead of Consolidated Account statement in the list above.

Individual

  • Application form
  • Pan card
  • Cancelled cheque of the bank to be registered (One can register more than one bank account)
  • Address proof (In case of Non Kyc Individual only)
  • KYC form with applicants photo (In case of Non Kyc Individual only)

HUF account

  • Application form
  • HUF and KARTA Pan card
  • Cancelled cheque of the bank (HUF) to be registered (One can register more than one bank account)
  • List of Co – Parceners
  • Bank statement (not more than three months old) of HUF (In case of Non Kyc HUF only)
  • Address proof of KARTA (In case of Non Kyc HUF only)
  • KYC form with KARTA photo (In case of Non Kyc HUF only)

Corporates

  • Application form
  • Company PAN and Directors PAN
  • Bank statement of the company (not more than three months old.
  • Company Cancelled cheque of the bank to be registered (One can register more than one bank account).
  • Board resolution, Authorized Signatories List and Share holding pattern
  • MOA,AOA and Certificate of Incorporation of the company
  • Address proof of Directors (In case of Non Kyc Corporates only)
  • Balance sheet for last two years (In case of Non Kyc Corporates only)
  • KYC form with Directors Photo (In case of Non Kyc Corporates only)
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