transfer of portfolio || Stocks and MutualFunds

transfer of portfolio || Stocks and MutualFunds

24°
Missing
Deal Cadet
51
276
3

Hello fellow Dimers,

I am confused here, due to the condition of Yes Bank.
My portfolio is with Yes Bank, and here is the breakup:

Stocks —> Some stocks purchased through Yes Securities.
Mutual Funds —> SIP’s Worth 25K are ongoing monthly. (not from Yes Securities, but done from Yes bank Netbanking)

Now, i am really concerned about the yes bank and my investments and want to transfer my complete portfolio to HDFC Securities where i hold an account.

Can anyone help me getting all this sorted out (transfer)?
Yes bank people says that HDFC needs to send some form to them to transfer them, whereas HDFC people says, the CML document that they have sent to me (as a part of account opening with them) need to send to Yes bank and they will do it.

They are playing ball ball game. can you guys assist here?

Many thanks in advance.

6 Comments  |  
3 Dimers
Missing
Deal Cadet
105
241
0

Why you are concern. Yes bank stakes now owned by major private banks and sbi.dont panic

Missing
Deal Cadet
51
276
3

ek baar bharosa uth jae, to dobara nahi hota…when i have another plateform i can switch, shouldnt i?

Missing
Blogger
277
5403
84
Bhalla_here wrote:

ek baar bharosa uth jae, to dobara nahi hota…when i have another plateform i can switch, shouldnt i?

Close your yes securities demat account. In the closing form they ask for alternate demat account details to transfer the shares. Give your HDFC securities demat details in that form and once your yes securities demat account is closed your shares will be transferred.

Stop all your MF SIPs and start new SIPs with a new bank mandate.

Missing
Deal Cadet
51
276
3
Expand
rsai01 wrote:

Close your yes securities demat account. In the closing form they ask for alternate demat account details to transfer the shares. Give your HDFC securities demat details in that form and once your yes securities demat account is closed your shares will be transferred.

well, not much concerned about stocks, as they are in Demat, and with a different entity, but that’s an option. thanks

Missing
Deal Cadet
51
276
3
Expand
rsai01 wrote:

Stop all your MF SIPs and start new SIPs with a new bank mandate.

Stopping SIP’s and redeeming is an option, but with a tax implication.
what i did asked is a way to transfer the portfolio..

Missing
Blogger
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Bhalla_here wrote:

Stopping SIP’s and redeeming is an option, but with a tax implication.
what i did asked is a way to transfer the portfolio..

Why do you have to transfer your portfolio? Your investments would be with the fund houses and YES bank has no access over them . Even if its with YES AMC, the condition of YES bank cannot affect your YES mutual funds.

Missing