Mutual Fund Platform Poll 2022!

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Tech Guru
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Do you use a dedicated Mutual Fund platform to manage all your investments? 

If you do then please go through this opinion poll and also share the must-have features one must look before subscribing to a dedicated MF platform. 

If you are not happy with current platform and considering a shift to a better platform then please mention in comments.

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We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
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Deal Captain Deal Captain
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I like paytm money

Deal Cadet Deal Cadet
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Purchase etfs which are better than mutual funds

Deal Cadet Deal Cadet
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kartikxxx wrote:

Suggest some!

niftybees

bankbees

goldbees

juniorbees

netfmid150

these are offered by Nippon.

other amc like sbi, hdfc etc are also offering various etf. you can have a look.

Deal Subedar Deal Subedar
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Groww and Kuvera works best, tried most of it.. 


if you need referral n stuff let me know

Deal Cadet Deal Cadet
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ConfirmPassword wrote:

niftybees

bankbees

goldbees

juniorbees

netfmid150

these are offered by Nippon.

other amc like sbi, hdfc etc are also offering various etf. you can have a look.

Only good as compared to index Mutual fund, otherwise not good in general case 

Deal Cadet Deal Cadet
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FreakingAwesome wrote:

Why etf? 

less tracking error, we can place limit orders, no cut off time for same day nav, purchase and sell like any share, less expense ratio

Deal Cadet Deal Cadet
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bhopali91355 wrote:

Only good as compared to index Mutual fund, otherwise not good in general case 

historically, index finds gave better returns than most of the mutual funds

Deal Newbie Deal Newbie
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I use ETMoney since last 3 year no issue with this, and support is also good

Deal Cadet Deal Cadet
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I use MFU

MFUtility is a direct subsidiary of AMFI (Association for MF in India). It thus holds a unique place in the MF ecosystem — it can

  • act like a RTA, able to pull from/push to the other RTAs (CAMS, KFinTech, FTAMIL)
  • act as an execution platform
  • act as a client-facing platform
Advantages

Almost all AMCs are supported

Although this isn’t a major selling point nowadays as most execution platforms have caught up, MFUtility supports most of the AMCs you might want to invest in. A few years ago when Franklin didn’t work with most platforms, MFUtility had it on-board for everything (nowadays Franklin may not be so attractive for investors, though).


Unmatched visibility and processing

Due to it supporting everything, you have unmatched transaction visibility and options for processing. 


You can pay MFU in various ways; the easiest way to ensure that it reaches MFU on time is using NEFT/RTGS. If you know the timings on which your bank processes NEFT (generally every 30 minutes), you can make sure it reaches them before the 12/1pm cut-off. They have a tie up with banks which allows you to transfer money to a “virtual” account number which contains your CAN — and it shows up in the trace shown above within a few minutes. They also support mandate registration and netbanking, if you want.


Automatic sync of transactions

Due to its nature, the current portfolio gets updated automatically based on the PAN. No one else can offer that, all they can do is trigger a CAS and upload it. RTA applications (myCAMS / KFinKart) have similiar privileges, but only for investments with the given RTA. All other clients platforms are only pushed updates if their ARN/RIA number is associated with the folio at the time of creation; further transactions do not affect this status. They have to talk to the execution platform and compute the net units, which requires reconciliation and hence can be error-prone when the platform is young.


Single window updation of details

Other than address details (which have to be updated at the KRA level), everything about your investments just needs to be updated in MFUtility and it will sync to every AMC/folio.


Redemptions, Redemptions, Redemptions

Due to the RTA-like nature, at the time of redemption you can override the bank account in which you want the proceeds to be credited.

Granular control of Folios

You can have as many folios as you want, and can even choose to create new folios at the time of investment. This is useful when you follow a folio-per-financial-year strategy, as you can choose to do tax-loss/tax-gain harvesting as per your convenience. As the FIFO principle is followed when redeeming and India doesn’t have any wash sale rules, this allows you to do fine-grained optimisation which may not be as easy to implement with other platforms.

Multiple holding patterns

A single login in MFU can have access to multiple CANs (e.g. I have you, you + spouse, you as guardian of child) and all of them work the same way.

Loads of features

Read up about CaST, CaRT and CaST Triggers — they offer a lot of flexibility. As an example, I never have any SIPs set up — depending on the amount of money available after paying off credit cards, I decide to invest an X amount and do a weekly CaST for X/4 or X/5 (depending on the weeks in month), which gives slightly better averaging than a single monthly SIP. I can also tweak the proportion of investments, and it just requires setting up a transaction once per month (I have PayEzzz mandate setup; if not they will email you a reminder/payment link for netbanking).

Will probably survive

MFUtility has been in operation for 5 years and is likely to be around for the future, which is not something you can say for the other client-facing platforms. They also have a revenue model which makes sense: the AMCs pay them for providing the services (they started out as a backend for distributors), so unless there’s a huge shakeup it’s likely to continue. That’s not the case for the competitors who don’t charge any fees, where is revenue going to come from? They will pivot and try other avenues to raise revenues, reducing focus on their core MF product 

Cons?
Extremely old-fashioned UI

The UI is very old-fashioned and has a lot of options — if you want a smooth flow and very good UI/UX, you won’t get it. While some people absolutely hate it, I consider the advantages and accept it as a cost of using it.

Transactions-only, no reporting

There is absolutely no reporting available. It doesn’t show you returns/details on any fund; you are expected to do your research and choose the exact fund you want to invest in. Neither does it show you the cost basis and your P&L or invested XIRR — you’re supposed to do that on your own.

Deal Cadet Deal Cadet
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rohan8397 wrote:

No I don’t use it.

YSK that MF central is a JV between CAMs and Kfintech to compete against MFU.

I expect it to be functionally similar to MFU since they’re objective is to poach MFU

No I don’t use it.

YSK that MF central is a JV between CAMs and Kfintech to compete against MFU.

I expect it to be functionally similar to MFU since they’re objective is to poach  investors and distributors on MFU.

Deal Lieutenant Deal Lieutenant
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prem4998 wrote:

Yes, I only check my portfolio since I invest directly on fund platforms so can’t track all in one place.

I am also investing directly. Currently using kfin and mycams

Deal Cadet Deal Cadet
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bikidas2060 wrote:

factually wrong. 🙂

That’s ok. There are very very few mutual funds which gave best returns than index funds.

You can back test it.

Hunk Hunk
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ConfirmPassword wrote:

That’s ok. There are very very few mutual funds which gave best returns than index funds.

You can back test it.

Yes. Now, it is true… 🙂🙂🙂

Kolkata Knight Riders Kolkata Knight Riders
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Groww and Paytm Money best UI and Easy to Understand. 

Also,I think It is better to arrange stocks and Mutual fund in different apps.

Deal Newbie Deal Newbie
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RankMF because of smart SIP feature.

Deal Cadet Deal Cadet
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kuvera 

scripbox

replyuser
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