Platform to invest directly into mutual funds

[SiddharthR]

Thanks. So that means SBI, HDFC have their own apps like SBI MFs, HDFC MFs etc. Using them, we can directly(not regular) invest in index funds !??

Yup!

 

[SiddharthR]

Is there any way one can do lumpsum investment in Mutual funds using a credit card (via wallet etc) ?

Nope

 

[iAmPm]

@NewUser If you don't won;t to go and create account on individual Mutual fund website/app, the best option for you without any middleman is go with KFintech and CAMS. And they can't become discount broker or anything related to stocks trading because they are RTAs
Application names KFinKart, myCAMS respectively
Brief about them:-
KFintech and CAMS are SEBI assigned RTAs(Registrar and Transfer Agents). There are total 40 odds mutual fund houses in india, 60% comes under KFintech rest 40% comes under CAMS.
eg. Axis comes under KFintech. HDFC, ICICI come under CAMS. So if you want to invest in axis MF you can do that by KFinKart. Similarly HDFC, ICICI investments can be done via myCAMS app.
You can track your all mutual funds investment and even family investments as well in these applications.
Edit: MFCentral is new joint venture by both companies so there you can manage all the funds at one place.

 

[addy]

@NewUser There is a website mfcentral.com (app also with same name) which is jointly operated by KFin and CAMS and single stop solution for all your MF tracking/purchase/sell/kyc needs.

 

[NewUser]

@NewUser If you don't won;t to go and create account on individual Mutual fund website/app, the best option for you without any middleman is go with KFintech and CAMS. And they can't become discount broker or anything related to stocks trading because they are RTAs
Application names KFinKart, myCAMS respectively
Brief about them:-
KFintech and CAMS are SEBI assigned RTAs(Registrar and Transfer Agents). There are total 40 odds mutual fund houses in india, 60% comes under KFintech rest 40% comes under CAMS.
eg. Axis comes under KFintech. HDFC, ICICI come under CAMS. So if you want to invest in axis MF you can do that by KFinKart. Similarly HDFC, ICICI investments can be done via myCAMS app.
You can track your all mutual funds investment and even family investments as well in these applications.
P.S. - This is from my own business knowledge that I got from working in this company so you can trust this info. Hope this helps

@NewUser There is a website mfcentral.com (app also with same name) which is jointly operated by KFin and CAMS and single stop solution for all your MF tracking/purchase/sell/kyc needs.

Thanks guys

 

[jack333]

@NewUser There is a website mfcentral.com (app also with same name) which is jointly operated by KFin and CAMS and single stop solution for all your MF tracking/purchase/sell/kyc needs.

If we invest in direct mf via groww or mfcentral is there any difference in commission and other charges? @SiddharthR

 

[rp0703]

If we invest in direct mf via groww or mfcentral is there any difference in commission and other charges? @SiddharthR

No difference at all.

 

[Salvo08]

I'm a beginner and want to select a platform for investing into mutual funds and stick to it. I want to try PhonePe but wanted to seek other opinions on this.

[1] If I start investing via PhonePe for say, 7 years, post which PhonePe product is taken off market, where will my units go? Can I use other platform to retain the investment done so far and continue investing?

[2] My company forbides me from investing via a broker that may also give a demat account. So options like Coin(Zerodha), Groww, IndMoney are out. Please include suggestions which purely invest in mutual funds, not stocks.

[3] Which is the easiest way to invest into MFs? Suppose I want to invest into Sensex Index fund. What would be the easiest and most-cost effective way(direct of course, not regular) to go about?

You can use ETMoney, IndMoney apps to start investing in Direct MFs. I personally use ETMoney and it provides a better UI to stop/start/modify the SIPs and redemption or switching too is easy.

 

[phagocyte536]

hello investment banker 😀

 

[prc1990]

I'm a beginner and want to select a platform for investing into mutual funds and stick to it. I want to try PhonePe but wanted to seek other opinions on this.

[1] If I start investing via PhonePe for say, 7 years, post which PhonePe product is taken off market, where will my units go? Can I use other platform to retain the investment done so far and continue investing?

[2] My company forbides me from investing via a broker that may also give a demat account. So options like Coin(Zerodha), Groww, IndMoney are out. Please include suggestions which purely invest in mutual funds, not stocks.

[3] Which is the easiest way to invest into MFs? Suppose I want to invest into Sensex Index fund. What would be the easiest and most-cost effective way(direct of course, not regular) to go about?

I would suggest to buy through AMC or Fund House directly to cut short dependencies with any other third party involvement. In order to track funds from different AMC you can use CAMS and KFIN.

 

[phagocyte536]

You can also use one of the neo banking apps to invest. Like Jupiter, Fi money or Niyox. You have to open saving account with them which is zero balance. They all have some features that make them stand out. Like no penalty for SIP failure due to insufficient funds or Invest the change, where every transaction rounded up to nearest 10 or 20 or 50 then upon reaching threshold gets invested.

These apps most likely would be putting your money in regular MFs rather than direct MFs

 

[rp0703]

These apps most likely would be putting your money in regular MFs rather than direct MFs

They all invest in Direct MF not regular.

 

[NewUser]

I would suggest to buy through AMC or Fund House directly to cut short dependencies with any other third party involvement. In order to track funds from different AMC you can use CAMS and KFIN.

How do you go about buying from AMC or Fund House directly? Can you please cite an example?

 

[prc1990]

How do you go about buying from AMC or Fund House directly? Can you please cite an example?

Let's say if I want to buy any Axis Fund, I will directly buy it from Axis Mutual Fund.