How To Buy and Sell Direct Mutual Funds Using MF Utility Portal

8/11/2016
HowtobuyandselldirectmutualfundsusingMFUtilityPortal
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freefincal
February7,2016
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MFUtilityisafreeTransactionAggregatingPortalrunabout25AMCsjointly.Itallowsuserstoinvestindirectmutual
fundplans.HereisastepbystepuserguidepreparedbyAnishMohantobuyandselldirectmutualfundsusingtheMF
Utilityportal.
IfyouarethinkingaboutgettinganMFUtilityaccount,thispostwillgiveyouanideaofwhattoexpect,andthepros
andconsoftransacting.Ifyouhavealreadygotanaccountandareabouttobegintransactions,thispostwillhelpyou
investbetter.Besuretoreadaboutthepaymentoptionsavailable.
TheauthorAnishmaybefamiliartomanyreadersastheauthorofReaderStory:Arise,AwakeandDIY! He is also a
memberofFacebookgroup,AsanIdeasforWealthwhereweoftendiscussusingMFUtilityfortransacting.
FeelfreetoshareyourexperienceofusingMFUoranyquestionsaboutthefacility.
AfewscreenshotsofthenewMFUtilityonlinetransactionportalwerepostedearlier.Thisisadetailedguide.
I am most fortunate to have dependable and generous friends like Anish, who gave me this post in just a couple of
hoursafterIrequestedhim.Overtohim.
DearReaders,
IwritethisposttomakealiteusermanualonhowtotransactonlineinMFUtility.Letmeputasmalldisclaimerbefore
Istartwiththisblog.
IadvisereaderstousethisasaUserManualonlyandnotconstruethisasanyadvertisementorencouragementto
usetheportal.Theauthor,AnishMohanandhismentorPattuSirisputtingthisarticleonapurepersonalinitiativeand
havenointerestorreceive(d)anyincentiveinpromotingMFUthroughthisblog.Thereaderhastoapplyhisorherown
discretion to transact on MFU online and is not bound to transact on MFU Online mandatorily for investing in direct
MutualFunds.
HowtoapplyforanMFUtilitiesaccount
1. You need to first apply for a CAN (Common Account Number). You can start this process here to generate the
applicationform:CANFormFillTab,butbewarnedthatitwillgiveanerrorandallinformationsubmittedwillbelostifthe
backbuttonispressed!Therefore,theformispreferred.Thefilledformwithnecessaryproofscanbesentbycourierto
theMFUoffice.
2.PostallotmentofCAN,youneedtorequestforonlineaccessbysendinganemailtoclientservices[at]mfuindia.com
afterwhichyouwillbegivenanusernameandpassword.
3.YouneedtohavenetbankingaccessforthebankaccountstaggedtotheCAN.
4.YouhaveacomputerwithaninternetbrowserInternetExplorerorGoogleChrome(!)
4.MOSTIMPORTANTLY,thePOPBLOCKERmodeissettoOFFinthebrowseryouwishtotransact.Thismeans,you
https://freefincal.com/howtobuyandselldirectmutualfundsusingmfutility/
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MUSTallowMFUtilityPOPUpstoappearinyourBrowser.
Search
Menu
IshallnowshowhowtotransactandallmyillustrationswillbeonGoogleChrome(purelymypersonalpreference).You
canusetheonethatyouarecomfortablewith.
Now,letstrytologintoMFU.Onthebrowseraddress,typemfuonline.comandthefollowingpageappears.
Youwouldbelandinginthefollowingpagepostsuccessfulauthentication.
Thethingsthatwillannoyyouinthisscreenareasfollows
Thezeroholdingsinvariousfundsaredisplayedandyouhavenowaytofilterthemout.
ThenumberofUnitsHeldisshownwithNOFolioNumbermentioned.
ThenumberofUnitsHeldisshownwithNOvaluementioned.
Pleasemakeyourselffamiliarwiththesymbolsasshowninthetextbesidethescreenshotabove.
PurchasingMutualfunds
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Now,letusseehowtotransact.YoumayclickontheSymbolpertainingtotheactionthatIhaveoutlinedabove,OR
youmayfollowingthenavigationasshownbelow
LetusnowtrytomakeaPurchaseTransaction.ClickonthePurchasemenuintheabovescreenshotorusethesymbol
besidethefundnameasexplainedabove.Youwouldbenavigatedtothefollowingscreen
The Orange outline details your CAN. Make sure that the KRA is approved, the names of the account holders are
correct
TheREDboxmustbecheckedifyouwanttoinvestinDIRECTPlans
Whenyouaredone,clickonProceedbuttoninthebottomrighthandcorner.
OnclickingProceed,youarenavigatedtothefollowingscreenshot
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Pleasedothefollowingactionsinthescreenshotabove
1.SelecttheFundthatyouwishtoinvestin
2.IfyouhaveanexistingFolio,selecttheFolioNumber.Ifyouhavenone,youwillhaveanoptiontocreateaNew
Folio.ThisoptionisNOTpresentifyoualreadyhaveanexistingFoliointhecombinationofnamesthattheCANis
createdfor.
3.Selecttheschemewhereyouwanttoinvest
4.SelecttheDividendoption.IfyouselectGrowthoption,itautomaticallychangestoNotApplicable
5.Inputtheamountthatyouwanttoinvest
Thereissomemoretothis.Thisscreenactslikeashoppingbasket.IfyouwanttobuymorefundsinotherAMCs,you
selecttheAddTxnbutton.ThatwillcreatealineitemundertheSchemeNamesection.Youcanthenrepeatthesteps
1to5outlinedaboveandaccumulatemoretransactionsinthequeue.
OnceyouaredoneaddingallyourfundsacrossAMCsorsameAMCinasinglelist,thetotalvalueofyourinvestmentis
displayedinboldintheaggregatesection.YoumaynowclicktheProceedbuttontomovefurther.
OnclickingProceed,youarenavigatedtothefollowingscreenshot
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IdonotwishtoholdUnitsinDEMATandhencesimplygoaheadandPresstheProceedbutton(notshown,butatthe
bottomright)togothenextPaymentsection.
Paymentoptionsavailable
Thereare4paymenttypesthatMFUallowsyoutopaywith.Theyareasfollows
1.NetBanking:Onselectionofthispaymentmode,pleaseselecttheSourceAccountNumberfromwhereyouwishto
pay. On clicking the Submit button, you will be redirected to the Net Banking site and the experience is self
explanatoryandintuitive
2.NEFT:PleaseobtainthevirtualaccountnumberandIFSCforyourCANfromclientservices[at]mfuindia.comand
setthemasNEFTbeneficiariesinyourNetbankingaccount.TheNetbankingaccounttoprocesstheNEFTshould
besimilartothebankaccountssetinCAN.
3.RTGS:Sameasabove.
4.PayEezz:ThisisanauthorizationtoMFUthatcanbeused(optionally)todebitfunds(SIPorlumpsum)fromthe
bankaccountsetinCAN.Essentiallythisisaonetimemandatewhichwillenablefastertransactionswithoutnet
banking. Please read the section https://www.mfuindia.com/PayEezzFAQ to familiarize with the process and
concepts.
Additionalnotesonpayeez
Therehavebeenalotofbuzz/thoughts/analysis/misconceptionswithpeopleexecutingtransactionsthroughMFUusing
PayEezzasthemodeofpayment.Iamwritingaseparatethreadtoletmembersknow,thebehindthescenesprocess
withregardtopaymentsusingPayEezz.PayEezzisnothingbutaOnetimeMandate(OTM)registrationfacilityoffered
byMFUwheretheregistrationsandsubsequentpaymentsarehandledthroughtheNACHplatformofferedbyNPCI.The
paymentaggregatorusedbyMFUtofacilitatePayEezzpaymentsisBillDesk,whouploadsallPayEezzdebitsprovidedby
MFUintoNACHplatform.Thereare3cutoffsforuploadingthedebitsviz.10:00a.m.,11:30a.m.and1:30p.m.Ifthe
debitfileisuploadedinthe1stand2ndcutoffs,thecustomeraccountisdebitedonthesamedayandthefundsare
madeavailabletothemerchantonthenextworkingday.Ifthedebitfileisuploadedinthe3rdcutoff,thecustomer
accountisdebitedonthenextworkingdayandthefundsaremadeavailabletothemerchantonthedaysubsequentto
thedebitday.
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Therefore,whenatransactionisplacedwithMFUby10:00a.m.andthedebitrequestsaregiventoBillDeskby10:30
a.m.BillDeskuploadsthesameinthe11:30a.m.batch.NPCIwouldprocessthesetransactionsandgetthecustomers
banktoDebitthemoneyfromthecustomersaccountandprovidethefundstoBilldeskbyENDOFDAY.AfterthatBill
DeskwillprovidethefundstoMFUonNextDay(TPlusONE)whichMFUwillfurthertransferthesametotheAMCs.
All of the above processes have to be considered ONLY for transactions of Rs. 2 Lakh and above (for NonLiquid
Schemes) and any Amount (Liquid Schemes), where the AMCs will require the actual credit in their accounts prior to
allotment.
Theaboveprocessdoesnotmatterifthetransactionvalue(perscheme)isbelowRs.2lacs(forNonLiquidschemes).
InvestorswillgettheNAVofTdayifthetransactionsaresubmittedwithMFUbefore3p.m.cutofftime.
Some members have asked if SIP using PayEezz have any difference or are they akin to the regular transactions?
Answer is yes, the SIP transactions are treated at PAR with the regular transactions and hence will have similar
processingrules.
All of above is through relentless talking with their team and making notes on my diary. This is my analysis and
informationthatIhaveassimilated.
After selecting the Payment Type and selecting the Source Bank account number, please fill the relevant information
which will be unlocked dynamically. Press the Submit button and a confirmation message will be displayed where you
arerequiredtopresstheconfirmbutton.
Pleasenote, if you have selected Net banking option, you will be redirected to your Net banking site where you will
authenticateandpaythefunds.TheredirectionwillcomebacktoMFUsiteandtheconfirmationnumberisdisplayedas
aPOPUPmessage.IfyourPOPUPisblocked,thismessagewillnotbedisplayedandthetransactionwillbe
deemed as failure, though the funds have been already debited from your bank account. This will not be
processedbyMFUandrefundissentlaterafterfewdays.
Theimportantthingtonoteisthecutofftime.OnselectingthePaymentType,MFUadvisesyouwiththecutofftimes
throughapopupmessage.ThePopUpmessageisshowbelow.
RedemptionProcess
Letmetakeyouthroughtheredemptionprocess.ItsasimilarnavigationtoPurchaseandifyoufollowtheStepNo.2,
youcanreachtheredeemscreen.Pleaseseescreenshotbelow
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Ontheredeemscreen,pleasefillthedetailsinthefollowingorder
1.SelecttheAMC
2.SelecttheFolioNo.
3.SelecttheSchemefromwhereyouwishtoredeem
4.Selectifyouwanttoredeemallunitsoramountspecific
5.TickthePayoutDetailsifyouwanttochangethebankaccountwheretheredemptionproceedsaretobecredited.
ItwillenablethePayoutAccountdropdownlist
6.In Payout Account dropdown list, you can select the Bank Account of your choice. The bank Accounts which are
presentorrecordedintheFolioaredisplayed.
The redemption transactions can also be grouped together and a single transaction can be issued to MFU. MFU will
internallybreakintovariousAMCsandprocessthesameindividually.
Onceyourtransactioniscomplete,youcancheckthestatusofyourtransaction.Pleaseseethescreenshotbelow
ItisimportanttounderstandtheGroupOrderNo.concept.Ifyouhavemademultipletransactionsinasinglebasket,
like multiple Purchase transactions or Multiple redeem transactions, all these will appear under a Single Group. The
group no will denote the basket. Within a group, the individual transactions are displayed through a drill down
mechanismasshownbytheREDbox.Sotherelationshipgoeslike
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DearReaders,IhopethatyouhavequiteaninsightfulviewofMFUOnlinetransactions.Therearemanydimensionsin
using MFU online. Let me try to put some pros and cons of the same. All views expressed are personal and need not
reflect any bias or aversion to using MFU in any way. You may have faced many issues are may not have faced any
issuesatall.Allstatementsherearemypersonalexperienceandmayhavenoresemblancetoanyonesexperience.
Pros:
TheportalgivesyouthewindowtotransactacrossmultipleschemesandmultipleAMCsinDIRECTmodeinasingle
window
ItdispensesawaywiththefrightofmaintainingmultipleloginsforAMCs.
ItisFREEtillnowtilldateandhopefullyitwillremainthat.IfyouthinkthatyourportalofMFisfree,readtheblog
Youronlinemutualfundinvestmentplatformisnotfree!
Cons:
ThedashboardissupposedtoaonestopsolutionforDataAnalytics.UsersrelyheavilyonvariousreportslikeEquity
Debt breakup, Capital Gains report, Portfolio XIRR, Individual Holding XIRR and many more to speak of. The MFU
portallackstheverydefinitionofDataAnalytics
UnitHoldingsarerequiredtobedisplayedinmoredetail,e.g.alistscreendetailingFolioNo,FundName,UnitsHeld,
NAVandvalue,NomineeagainsttheFolioarebareminimumtobedisplayed.
TheFolioMappinginthedashboarddoesnotcomefullymappedtoausersFolioholdings.IhadmultipleFolioswhich
didnotappearinthedashboard.Iraisedthiswithclientservicesandtheypromptlysolvedtheissuethough
The Unit Holdings are not properly updated/refreshed every day, though if it is raised with clientservices, they
generallyresolveitpromptly
TheNetbankingpaymentmodehasfailedonceforme,thoughIlaterfoundthatthePopUpblockeristhecause.
ThecutofftimeoftransactionforapplicabilityofsamedayNAVisnotextremelytransparent.Fewpostsinfacebook
groupAsanIdeasForWealthhaveraisedtheseconcerns.
Franklyspeaking,otherthantherefinementoftheDashboardandmoremeaningfuldisplayofHoldings,Ihaveyetto
haveanygripeonMFUOnlineportal.IneededaportalwhichwouldallowmetoinvestinMutualFundsinDIRECTmode
andkeepmyentireholdingsconsolidated.MFUistherightthingandrightplacetobe,thoughaswithanyportal,ithas
itsownshareofshortcomings.
PleasejoininthankingAnishinpreparingthisguidetobuyandselldirectmutualfundsusingMFUtilityPortal.
Checkoutthelatestmutualfundreturnslisting
Thankyouforreading.Youmayalsolike
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BlogCommentPolicy
Yourthoughtsarevitaltothehealthofthisblogandarethedrivingforcebehindtheanalysisandcalculatorsthatyou
seehere.Wewelcomecriticismanddifferingopinions.Iwilldomyverybesttorespondtoallcommentsasap.Please
donotincludehyperlinksoremailidsinthecommentbody.SuchcommentswillbemoderatedandIreservetheright
todeletetheentirecommentorremovethelinksbeforeapprovingthem.
February7,2016 freefincal
MutualFunds
MultiindexMutualFundRollingReturnsCalculator
Thetroublewithrentvs.buycalculations
96thoughtsonHowtobuyandselldirectmutualfundsusingMF
UtilityPortal
1.AshalJauhariFebruary7,2016at7:42am
ThanksdearAnish.
Thanks
Ashal
Reply
1.AnishMohanFebruary7,2016at3:57pm
ThankyouAshalSir.
Reply
2.KunalraneFebruary7,2016at8:48am
ThankYouAnishforthewalkthrough.
ConsolidatedDirectMFinvestingisdefinitelyastepintherightdirectionandtheparticipatingMFsshouldbe
acknowledgedforhavingtheforesightofopeninganewrevenuestreamforthemselveswhileempowering
investors.
IhopethedevelopersofMFUsitegettoseeyourpostsothattheconsareaddressedswiftly.
Reply
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ThanksKunal.IhadaskedforthebareminimumenhancementsthrutheMFUportal.Iamsurethattheyare
receivingsuchrequestsandtheyarepouringinaseverydaypassesby.Hopefullysomedaytheywouldhave
theincentivetoenhanceitfurther.
Reply
3.RakeshFebruary7,2016at9:10am
ThanksAnish.IwasnotawareofPopupblockerproblem(whichledtotransactionfailuretwiceandthenIstopped
usingMFU).
Reply
Yes,itwasalatediscoverybymeaswell.
Reply
Mr.Rakesh,alsotoaddonemorepoint.TheroundabouttimefromtheNetbankingtotheMFUSiteisonly5
mins.SoifyouarewaitingforOTPfromBankortakingtimetoputtheOTPonthescreenandyousurpass
the5minwindow,thenalsothetransactionwillgetafailuremessage.
Reply
3.balapFebruary7,2016at4:31pm
WhenItried,itfailedlikeitdidforyou.Isentanemailtotheirclientservicesandtheyhaveaddressedit.
Unitsgotallocated.However,itlooksliketheyarenotawareordon'twanttohighlightforsomecause.I
presumedistributorcommunitymightbeusingsimilarplatformfortheirinvestors.Basicdashboardfeatures
aremissingasreportedbyAnish.Iftheyfixit,theycouldgetmoreusers.But,theycouldnotgoagainst
distributorandpromotethisplatform.Ifdirectplanvolumeishigh,AMFIcouldmakesomemore
enhancements.
Reply
Thisisaninterestingpoint.Inmycase,evenifIcouldprovethemthatthefundswerecreditedtotheir
account,theyrefusedtoprocessthetransactionandinsteadrefundedmethemoneyback.ButasI
understandfromyourpost,theyactuallyprocessedthetransactionandgaveyoutheallotment.When
didthishappen?SinceIrememberIhadthisissueinlastmonthandtheyclearlysaidthatsincethe
credithasnotbeentimestamped,sotheyhavetorefundthemoneyback.Hastherebeenanychangein
policyofflate?WithinhowmanydaysdidyougetallotmentandwithwhichdaysNAV.Ifyoukindly
elaborate...
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Reply
1.RSWAMINATHANFebruary7,2016at4:59pm
Itriedtoregisteronlineandthelastpageisaskingquestionsofthe
NSDLdpname,dpidandbeneficiarya/c
wheniinputthedpnameasicicibankltdandthedpidandthebeneficiaryclientidandclikon
submititdoesnotaccept.
anythingspeicaltobementionedorleaveitblank
itriedtoleavethecolumnsblank,butitdoesnotwork
pladvise
Reply
Mr.Swaminathan,theonlineformworkstooverycrude.Inevercouldhavesuccessinfillingit
outonline.Iwouldrathersay,pleasedownloadtheform,takeaprintandfillitupwithhand.I
wouldkeeptheDPIDportionasblanksinceIdontwanttostoreunitsindematmode.I
understanditstoomuchofapaininfilingtheforminhand,butthereisnochoiceeither.Idid
itforA+BandB+Aandimaginemyplight.
ThanksforyourpromptreplyAnish
Ijustgaveuptryingallthetricksiknow.
willdomanuallyassuggested.thanksbuddyagain
2.KannanFebruary9,2016at9:21am
Thesystemenhancementintroducedlater,allowedtheretentionoftransactiondataeventhoughthe
successresponsedidnotcomethroughfromthegatewayandthusbeingabletomatchthecredit
againstthetransactionlateron.
Reply
1.AnishMohanFebruary9,2016at10:51am
Thatsaverygooddevelopmenttheyhavedone.Thanksforsharingthisnews.Infactthese
datapointsprovethatMFUisevolvingforthegood.
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4.anitFebruary7,2016at10:30am
ThanksalotAnishji.
Reply
ThanksAnitsaheb.Mypleasure.
Reply
5.JaganFebruary7,2016at2:17pm
Hi,
Thanksforthedetailedarticle.1questionthoughWhatcutoffandthusNAVwillbeusedwhenSIPisdonevia
PayEezzsincewearenottheonesdoingpaymentmanuallyeverymonth,wehavenocontroloverensuring
paymentreachesintotheescrowbefore1:40pm,afterreadingthefirstfewlinesof"PAYMENTALERT"screenshot,
itseemsthatifIsetupanSIPforevery5thofthemonth,IwillgetUnitsasperNAVon5+1=6th(ormaybe7th)of
themonthbutthatisNOTwhataninvestorwantsright?IfIsetupSIPfor5ththenIwantNAVof5thofthe
month.
WillIgetunitsasperNAVof5thor6thor7th?Ifnotof5ththenitwillbeanotherdisadvantageofMFUvisavis
otheronlineportalslikeICICIDirect.
Reply
Mr.Jagan,fortheSIPones,itisstraightforward.YouwillgettheNAVoftheTday,whereT=dateofSIP.
Reasonbeing,forSIPones,thedebitinstructionwillreachyourbankpriorto10AM.Thefundsmayget
debitedanytimeintheday,butthepayeebankwillsendaconfirmationmessagethattheywillpaywithinthe
cutoff.SinceforSIP,thefundswillgetcreditedonTorT+1(inworstcase),soAMCwillgiveyouallotmentof
unitsbasedonNAVofTday.Hopethisclarified.
Reply
OnthisiwouldliketoknowwhetherCANapplicationhastobefiledforeverindividual.whathappensinthecaseof
2applicationsinoneFundaseitehrorsurvivor?orJoint
howtoapplyforthis??
Reply
IftherearetwoinvestorsAandB,theCANcanbeopenedinfollowingcombinations
1.AandB
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2.BandA
3.Aalone
4.Balone
NowAandBcanbeopenedinEitherorSurivorwhichisoneCAN.AlsoAandBinJointModeisanotherCAN.
ItisalldependentonthepermutationsandcombinationsthatyouhaveyourFoliosin.Foreverycombination
thatyouwanttoopenin,theformswillhavetobefilledinthatsamefashion.LikeformeIhadtofillupNo.1
andNo.2respectively.
Reply
Mr.Swaminathan,alsotoaddonemorepoint,ifItakemyexamplewhereIhadtoopenintwo
combinationsofPoint1andPoint2,IwasgiventwoCANS.So,Ihavebeengiven2loginIDs,bothfor
CANinA+BandB+A.NowIfIloginwithA+BmodeCANuserid,onthedashboardoronanyscreen,I
seetheCANofbothA+BandB+A.But,Ican"Transact"inonlyA+BmodeCAN.TheB+Amodeisthen
forviewingONLY.SointheCANdropdown,IamrequiredtochoosetherightcombinationCANsothat
thetransactionscreenisenabled.HopeIhaveclarified.IwantedtoaddthispointbutthenIthoughtit
wouldunnecessarilyobfuscatethematterforfirsttimereaders.
Reply
1.SwamianthanFebruary7,2016at4:11pm
ThanksAnishfortheclarification.appreciateit
regards
Reply
MrSwaminathan,Ihaveinterestingnewstobreak.IfAandBare2investorshavingholding
combinationasA+BandB+A,thenMFUwillprovideyou2CANS,oneforA+Bandanother
B+A.Thereforeyouwillhave2useridsforCANofA+BandCANofB+A.Ifyouloginwith
useridofA+B,youcouldseebothCANs,buttransactionfacilitywasenabledforA+Bonly.Here
istheBREAKINGNEWS...Justnow,5minsago,Iamfindingthatevenifyouloginwithuserid
ofA+B,theTRANSACTIONFACILITYISENABLEDFORB+AALSO...Thisisanewdevelopment
andthepostisrequiredtobeupdated...
IncaseofindividualCANs,useridsareatPANlevel.Togetauseridoneshouldbeasoleor
primaryholderinatleastoneCAN.SuchuserwillbeabletoviewdetailspertainingtoallCANs
whereheisaholder,butwillbeabletotransactinCANswhichareinsingleholdingmodeorin
AnyoneorSurvivormode.JointCANsarenotpermittedfortransactionasofnow.
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7.asheeshFebruary7,2016at3:27pm
hi,
isitpossibletooperatepreviouslypurchaseddirectfunds,here?
Reply
1.freefincalPostauthorFebruary7,2016at3:35pm
yesofcourse.Botholdregularfundsanddirectfunds.
Reply
HiAsheesh,Yesindeed.Eveniftheyareregular,stillyoucan.Youhavetogofromthedashboardscreen.
ClickontheiconofCartwhichisPurchaseasshowninPoint2.Whenyouclickonthere,ifitisaregularplan,
thentheARNdetailswillremainprepopulated.ForDirect,thedirectwillremaintickmarked.
Reply
8.AJFebruary8,2016at9:20am
IfyouhaveajointCANaccountthennouse.Notactiveforjointholders
Reply
9.KumarFebruary8,2016at11:33am
ThanksMr.AnishandMr.PattuforthisinitiativesoneducatingtheDIYcommunity.
IwouldliketosharemypersonalexperiencewithMFUwhileperformingPurchasethroughPayEezz.Ittook7
workingdaystoseetheunitspurchasedsincethemoneydebitedfrommybankaccount.whenIwrotetoclient
services,theyregretaboutthedelay,andwrotetomeas"....Weshallworkoutthelossasadelayinallotmentof
unitsandrevertbacktoyoushortly!!".SoIwouldpersonalywaitforsomemoretimetotransactthroughMFU
untiltheyresolvealltheirsmallissues..
Reply
Mr.Kumar,thisisaverybadexperiencethatyouwentthrough.Themorewearehearing,itseemsthat
PayEezzhaslotsofissuesinunitallotment.TherearepeopleinAIFWwhoseemtofacesuchissueson
PayEezz.Keepusposted.Alsotheunitswereallotedonwhichday'sNAV?Thedayofpurchase..?
Reply
1.KumarFebruary9,2016at12:19pm
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8/11/2016
Mr.Anish,
UnfortunatelytheunitswereallotedonlaterdateNAVonly!!
OrderplacedthroughPayEezzon24thJan,Moneydeductedfrommybankon27thJan,andtheUnits
allocatedon1stFebNAV.
ItshowsthatMFUstillneedstoimproveintheirtransactionprocessanditsspeed!!
Reply
Mr.Kumar,thisisindeedaveryverybadexperience.ItshowsthatPayEezzisaveryunstableoption
inthatcase.ThanksforsharingthisexperiencesinceevenIwaswaitingforPayEezzsetupasan
alternativeinstrument.
Reply
ThanksAnish&Kumar.Inthiscase,whichoptionshouldweavailtoENSUREwegetsameday
NAV?Netbanking?,NEFT/RTGS?,ECS?,anyotheroptionyoucanthinkof?
SinceIamanSIPpersonIwouldliketoknowfromSIPpointofview,whichoptionwillbe
better?IncasewithSIP,onlyfewpaymentoptionsmightbevalid,IamokwithManualSIP
modewhereIbuyintoMFonspecificdaysandthenusethebestoptiontoensureIgetsame
dayNAV.
ForSIPMode,Ihope,andthatspurelymyhunch,thebankwillgetthedebitinstructionbefore
10AM.AsweknowthatPayEezzbefore10AMissupposedtoguaranteesamedayNAV(as
claimedbyMFU).ThereforeinSIPmode,payEezzwillworknormally,hopefully,thoughIcannot
makeanauthoritativestatementwithoutexperiencingthematter.
10.SukhvinderSidhuFebruary8,2016at12:45pm
ThanksdearAnishMohanandPattufortheinformativewriteupandshareforthebenefitofcommoninvestors!
Reply
ThanksMr.Sidhu
Reply
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AlsoonedisadvantagewithMFUwhichyoumightwanttohighlightinyourblogpostisthatifyoubuyfundsvia
MFUBUTselectcreditunittoDEMATa/cthenyouwillnotbeabletosellthosefundsviaMFU.YouHAVETO
sell/redeem/STPetconlyviayourDematprovider.Sillybuttrue.
Reply
Mr.Jagan,thisisnotasillypointatall.Infact,thisisanextremelygoodobservation.IrealisethatMFU
dashboardwillgoblankifyouholdALLunitsinDEMATmode.MFUunitsareshownonlyforthoseunitswhich
areinSOAstatementofaccountmode
Reply
12.SreeFebruary8,2016at9:03pm
ForcustomerswhoseKYCisalreadydone,theCANformrequires"KYCacknowledgementletter".Anyonehasay
ideahowthiscanbeobtained?Internetsearchresultsarenothelpful.
Reply
1.AnishmohanFebruary8,2016at9:08pm
TheKYCletteristheprintoutfromCVLINDIA.com.gotothewebsite...keyinyourPANandtaketheprintout
Reply
1.RajuFebruary9,2016at2:33pm
KYCacknowledgementLetterisnotmandatory.PANcopyisenough.KYClettermakesiteasier.
Reply
Justonepointtoadd.
TheCANFilloptionallowsyoutosaveandretrievetherecordforfutureuse.Forsavingarecordyoujustneedto
fillintheprimarydetailsandthenfilltherestlateratyourconvenienct.Toprotecttheprivacyofthedatathatyou
submit,averificationcode(OTP)isusedtoenableretrievaloftherecordforsubsequentuse.
Reply
Tillbefore7thJan,IhadanideathathecouldtransactwiththeCANwhereheissoleorprimaryholderONLY.
BUT,after7thJan,recentlywhenIloggedin,IamfindingthattransactionrightsareenabledforthoseCANs
whereIamthesecondholderinEitherorSurvivormode.Thoughtheenablementhashappened,Ihavent
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triedtomakeatransactiontobeabletosaythatyesitworks.Butthebreakingnewsis,whatusedtobe
holdingmodeonlyarenowopentotransact.
Reply
HiAnish,replyingtoyourcommenthttp://freefincal.com/howtobuyandselldirectmutualfundsusingmf
utility/#comment14350sinceIcudnot,replytoyourcomment:
SoyouboughtMFunitsinlumpsum&notinSIP?IthoughtyourexperiencewaswithSIP.Buteventhen,ifyou
placedyourorderbefore1:40PMcutoff(asstatedonMFU),youshudhavegotunitsasperNAVofthesameday.
IamthinkinghowdifferentwillunitspurchasedviaSIPbefromLumpsumIFplacedatroughlythesametimesay
at9or10am?Ifdon'twanttofacesameissuesasyoursifIputinSIPfor12monthsandthenremainstuckwith
thisissueinMFU.
AnyoneelsehaveexperiencewithSIPpurchaseviaPayEezzandwhatdateNAVunitsareallocated?Plsshare.
Reply
HiJagan
TheSIPworksonPayEezzmethodofpaymentonly.SincemyPayEzzwasnotsetuptilldate,hencehadno
SIPexperience.Anyway,todayIgotthePRNsetupconfirmationandnowIcanexperiencetheSIPalso.
Alumpsumtransactionplacedbefore10AMwillreceivethesametreatmentasanSIPtransaction.Youshould
beabletogetunitsonthedateofSIPordatewhenthelumpsumtransactionwasplaced(providedbefore10
AM).
Iwillbeabletoconfirmalloftheseon25thFebwhichismySIPdate.
IalsomadealumpsumpurchaseusingPayEezzmodetodatat730PM.Oddly,thetransactionstraightaway
wentto"RTAAccepted"statusandwaspostedinCAMSstraightaway.Butthedebithasnothappenedinmy
bankaccountyet.Iwillcomebacktomorrowtoreplytothisposttotellyouifthedebithappenedtomorrow
andallotmenthappenedonwhichdate'sNAV.
Reply
1.JaganFebruary10,2016at11:24am
ThanksAnish.WillbewaitingformoredetailsfromyouonceyourSIPviaPayEezzisdone.Hopefully,it
shouldbeasseamlessANDreliablemonthaftermonthaswehavewithourbrokerslikeICICIDirect,
fundsindia,sharekhanetc.IamwaitingformyPRNtoarrivetostartmyfirstSIPinDirectfund.
Reply
15.AshikFebruary9,2016at10:30pm
HiAnish,
Thanksforthedetailedpost.IdidnotfindanyhelpmaterialinMFsiteforguidance.Thisposthelpsalot.Igotmy
CANandonlineaccesstoday.Iwasexploringthesite.Ihavefewquestions:
a.DoweneedtoregisterforPayEezztosetupSIPmandate?
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b.OrcanitbedonebyNEFT?Whatistheprocesstodoit?
Youhavementionedsettingupvirtualaccount.Canyouexplainindetailhowtodoit.Thanks.
Reply
HiAshik
ItisrequiredtoregisterforPayEezztosetupSIPMandate.SIPworksonlyonPayEezzoption.
Reply
HiAshik
IforgottoreplyonVirtualAccount.Say,youdecidetousetheNEFToptiontotransfermoneytoMFU
account.Forthat,youwillrequirethebeneficiarydetailsi.etheIFSCandtheAccountNumberofMFUto
sendmoneyviaNEFT.IfyouwritetoclientservicesofMFU,theywillgiveyouaIFSCandanaccount
number.Theaccountnumberthattheyprovideisacombinationof4lettercodesuffixedwithyourCAN.
Since,MFUhasnotopenedsomany"real"bankaccountsinthatbranch,itisactuallyavirtualaccount
numberwhereyoutransfermoneyviaNEFT.
Reply
1.AshikFebruary10,2016at10:22am
ThanksforyourpromptreplyAnish.IwillwaitformyPRNthentosetupmySIP
Reply
DearAll,
Thankstoallforyouroverwhelmingresponsetothisarticle.Ihavetriedmybesttoansweryourqueriesasfastas
possible,andIhopeyouhavebeenwellserved.IwantedtosaysomethingonPayEezzexclusively.
Therehavebeenalotofbuzz/thoughts/analysis/misconceptionswithpeopleexecutingtransactionsthroughMFU
usingPayEezzasthemodeofpayment.Iamwritingaseparatethreadtoletmembersknow,thebehindthe
scenesprocesswithregardtopaymentsusingPayEezz.PayEezzisnothingbutaOnetimeMandate(OTM)
registrationfacilityofferedbyMFUwheretheregistrationsandsubsequentpaymentsarehandledthroughthe
NACHplatformofferedbyNPCI.ThepaymentaggregatorusedbyMFUtofacilitatePayEezzpaymentsisBillDesk,
whouploadsallPayEezzdebitsprovidedbyMFUintoNACHplatform.Thereare3cutoffsforuploadingthedebits
viz.10:00a.m.,11:30a.m.and1:30p.m.Ifthedebitfileisuploadedinthe1stand2ndcutoffs,thecustomer
accountisdebitedonthesamedayandthefundsaremadeavailabletothemerchantonthenextworkingday.If
thedebitfileisuploadedinthe3rdcutoff,thecustomeraccountisdebitedonthenextworkingdayandthefunds
aremadeavailabletothemerchantonthedaysubsequenttothedebitday.
Therefore,whenatransactionisplacedwithMFUby10:00a.m.andthedebitrequestsaregiventoBillDeskby
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10:30a.m.BillDeskuploadsthesameinthe11:30a.m.batch.NPCIwouldprocessthesetransactionsandgetthe
customersbanktoDebitthemoneyfromthecustomersaccountandprovidethefundstoBilldeskbyENDOFDAY.
AfterthatBillDeskwillprovidethefundstoMFUonNextDay(TPlusONE)whichMFUwillfurthertransferthe
sametotheAMCs.
AlloftheaboveprocesseshavetobeconsideredONLYfortransactionsofRs.2Lakhandabove(forNonLiquid
Schemes)andanyAmount(LiquidSchemes),wheretheAMCswillrequiretheactualcreditintheiraccountsprior
toallotment.
Theaboveprocessdoesnotmatterifthetransactionvalue(perscheme)isbelowRs.2lacs(forNonLiquid
schemes).InvestorswillgettheNAVofTdayifthetransactionsaresubmittedwithMFUbefore3p.m.cutoff
time.
SomemembershaveaskedifSIPusingPayEezzhaveanydifferenceoraretheyakintotheregulartransactions?
Answerisyes,theSIPtransactionsaretreatedatPARwiththeregulartransactionsandhencewillhavesimilar
processingrules.
Allofaboveisthroughrelentlesstalkingwiththeirteamandmakingnotesonmydiary.Thisismyanalysisand
informationthatIhaveassimilated.
Reply
17.AshikFebruary12,2016at1:04pm
Ihavetrieddirectpurchaseusingboththemethodyesterday:
a.NEFT
b.NetBanking
NEFT:IhaveearliersetupVirtualaccountgettingtherequiredinformationfromMFU.Iplacedmypurchaseorder
intheportalanddidaNEFTtransactiontoMFUatabout11:45amyesterdaymorning
NetBanking:NextItriedNetBankingandwassuccessfulinauthorizingtheamountinmybankaccount.Buton
redirectingbacktotheMFUsite.anerrorscreenwasdisplayed.IsentamailtoMFUonthiserror.
ThoughIhavenotreceivedanyreplytomymail,todaymorningboththetransactionweresuccessandtheunits
werecreditedtomyaccount(withyesterdayNAV)
Reply
DearAshik,
Thanksforlettingusknowtheupdate.ThereseemstobeagoodenhancementsincemylastNetBanking
failureexperience.IamfindingthatinspiteoftheNetBankingfailure,youaregettingthetransaction
through,whereasbackin8thJan2015,itwasnotthecase.Theywererefundingthemoneybackincaseof
failureinNetbanking.
So,thisisanimportantenhancement.EvenifNetbankingfails,itwillstillbeprocessed.Iwillrequireto
understandunderwhatconditions.Itmayhaveonecondition,thatevenifthemoneyisdebitedfromyour
accountitactuallyreachesthepaymentgateway,thenonlyinspiteofafailuremessageyouwillstillfindthe
transactiontogothrough.
Reply
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18.bharatshahFebruary12,2016at5:08pm
allinall,fromthisveryinformativepostandcommentsplustestimonialsonmfuindia.comsite,itseemsthatitis
notforindividualdirectinvestors'mftransactionsatleastnow!IgotCANsforallfamilymembers,butIpreferto
stayputforgoingonlinethroughit!Thereseemsnootheruse(apartfromtransactions)ofCANforcurrentonline
directmfinvestors.orarethereany?
thankyouverymuchforthepost.
Reply
1.freefincalPostauthorFebruary13,2016at1:09pm
Ithinktheportalisrobustenoughforinvesting.
Reply
LetmeshareanotherexperiencethathappenedwithMFUinthisweek.Thisislongpost.Pleaseholdpatience.
On09thFeb,IplacedanorderforadirectfundinanequityschemewhoseRTAisnonCAMSornonKarvy.Letus
assume,thatisXYZRTA,intentionallymaskingthenamesincethisposthasNothingtodowiththeRTAandmore
todowithMFU.Thistransactionwasplacedon9thFebat11:44AM,i.e.beforecutofftimeandthrough
Netbankingmodeofpayment.ButUnitswereNOTallotedon10thoreven11thFeb.So,IcontactedMFUon10th
Febintheeveningaround630PMnarratingmyplightandalsohighlightingthattheRTArecordsdonotshowthe
09thFebtransactionasapendingtransaction.(Aseparatepostwaswrittenbymetoletmembersknowhowto
checkinRTAportalifthetransactionwasindeedpostedintheRTA).TheMFUteamsprungintoactionwithin30
minsinspiteofmymailinthelateeveningandforwardedthemailtoRTA.On11thFeb,Igot3callsfromtheRTA
andamessagethattheyareseriouslylookingintoit.On12thFeb,tomypleasantsurprise,Igotunitsallottedin
9thFeb'sNAVandanaccountstatement.
Now,whywasthisapleasantexperienceforme?
Toanswerthat,Ineedtonarrateanotherincident.BackinDec2015,whenMFUonlinefacilitywasnotavailablefor
Investors,Iwastransactingthroughmybroker.On3rdDec2015,therewasanexactlysimilarincidentwhenmy
SIPinthesamefolioandfundbutRegularPlanwasnotprocessedandwasliterallyuntraceable.MyBroker(aftera
lotofpush)wokeuptothesituationandcontactedtheRTA(astheyclaim).Thatmatterwasultimatelyresolvedon
22ndDec,afterrelentlessfollowup,escalations,phonecallsandbeinghorriblypingpongedbybothBrokerand
theRTA.Thatwasabitterandterribleexperienceof18daysofagony.
ThistimeIwasgearingupforsuchaharrowingexperienceandIneverexpectedthispleasantandsweetoutcome.
Theirinterventionresolvedthisinjust2days,infacttheyweretransaprenttocopymeinemailstotheRTA.ifI
comparetomybrokerexperiencebackinDec,theyonlygavemefalseassurancesbutnevershowedmeany
evidenceofcorrespondence.Whereashere,MFUandtheRTAcorrespondenceshappened,withmeinCC,infact,I
wasabletoseethetechnicalfilewithmytransactiondetailsandcoulddeciphersomemeaning.Itprovedmy
technicalmindthatMFUsystemhadnoerrorintrasmittingthedataandtheRTAhadsomeprocessinglacunnae.
Ithasindeedsurpassesallmyexpectationstogiveanincredibleexperience.Ithoughtofsharingthisexperience.
WhenIthankedtheteamback,theyevensaidthattheyarestillinvestigatingthecauseofthefailureandarejust
notbrushingitoffunderthecarpet.
Reply
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8/11/2016
EsteemedMembers,IambackwithanotherpostonMFU.ThisisregardingthepaymentmodeofNEFTandits
intrinsicrelationshipwithVirtualAccountNo.(VAN).
MFUintendstoappointmultiplecollectionbankerswithwhomcollectionaccountswillbemaintained.Currently,
ICICIandKotakBankareenabled.Fewmorebankswillbeaddedinthenearfuture.
Toavoid,unidentifiedcreditsbeingreceivedintheMFUcollectionaccounts,MFUdecidednottodisclosetheactual
accountnumbersbuttoprovideVirtualAccountNumbers(VAN)fortheinvestorsdesiringtoremitthepaymentsby
wayofNEFTorRTGS.Tobeunbiasedtothecollectionbanks,MFUsystemisdesignedtogenerateaVANrandomly
withthebeneficiaryaccountdetailsoftheMFUcollectionaccountmanagedbyANYoftheactiveMFUcollection
bankswhentheinvestordoesthetransactionforthe1sttime.Fore.g.ifICICIBank,theVANwouldbeMFIB+CAN,
ifKotakBank,theVANwouldbeMFKK+CAN.
OncetheVANisgeneratedandprovidedtotheinvestor,hecanregisterthesameasabeneficiaryinallthebank
accountshehasthroughtherespectiveBanknetbankinglogins.Thisthenbecomesapermanentbeneficiary
accountforthecustomertomakeallNEFT/RTGSpaymentswithregardtoMFUtransactions.
WiththeVANalreadyavailable,thecustomerisfreetoinitiatethepaymenteitherbeforeorafterthetransactionis
initiated.
IfthepaymentisalreadyinitiatedandtheUTRisavailable,heshouldchecktheboxNEFT/RTGSTransferdone
andspecifytheUTR(optional)andVAN(mandatory).{READTHISSENTENCEAGAIN}
Ifthepaymentisnotyetdoneatthetimeoftransaction,heshouldonlychecktheboxVANalreadyregistered
andmentiontheVAN(mandatory)towhichhewillbemakingthepayment.IfhedoesntchecktheboxVAN
alreadyregistered,thesystemwillagaingenerateafreshVANwhichmayormaynotbethesameprovidedduring
the1sttransaction.Insuchcase,theinvestorhastomakethepaymenttotheNEWVANandNOTtheOLDVAN.
Elsethecreditwillnotbematchedtothetransaction.
So,thereareeffectivelytwomodesofpayment.PreandPost.InPre,youdoNEFTfirstandthenmakethe
transactioninMFU.InPost,youmakethetransactioninMFUandthentransferthefundstoVAN
ManywouldfindthePOSTtobebetterthanPRE.InPRE,SayyoumadetheNEFT.Moneyhasgoneout.Then
ElectricitysnapsoffOrBSNLbroadbandgoesdown.Thenyouhavetoruntothecybercafetofinishtherest!
Sincemoneyisalreadydebited...Thisisahumor..
Reply
21.bharatshahMarch7,2016at12:03pm
AreallfundsofmemberAMCavailableontheplatformfortransaction,orselectedfew?ican'tfindthefundsilike
toinvest,sothequery.
Reply
1.AnishMohanMarch7,2016at12:22pm
Thereare25AMCsparticipatinginthisportal.YoumaywritetotheMFUhelpdeskwhichisconnect[at]
mfuindia[dot]comaboutyourquery.
Reply
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22.RajaRajagopalApril20,2016at4:17pm
HiAnish,
ThisisRajaRajagopal.Hopeyouaredoinggood.Igotmyuserid/pwdforMFutility.Ihavethebelow
clarification.Couldyoupleaseclarify?
INMFUtilitypage,therearemanyoptions(LikePurchase,Redeem,SIPetc).Here,whatisthedifferencebetween
"Purchase"and"SIP"?
Also,IhavestartedSIPforonefindwithRegularPlan.Iwanttoinvestadditionalinvestmentonthesamefund.
TheadditionalinvestwillcomeunderdifferentFolioNo.ortheamountwillgetaddwiththesameFolioNumber.
Appreciateyouradvise.
Thanks,
RajaRajagoapl
Reply
1.AnishMohanApril20,2016at4:28pm
HiRajagopal,Iamfine,ThankYou.regardingthesecondquestion,ifyouusethecarticoninthedashboard
screentomakeadditionalpurchase,theunitswillbecreditedunderthesameFolioNo.andNOadditional
Folioswillbecreated.MFUdoesnotallowyoutocreateanewFolioifyoualreadyhaveanexistingFoliosince
itisduplicationwhichtheydonotencourage.Also,whenyouexercisethepurchaseoptionundertheCAN
Transaction,andclickonpurchaseandselectyourAMC,youwillonlyfindonefolionumberunderdropdown.
Therefore,allsubsequentpurchaseswillonlyappearinthesamefolio.
Regardingthe1stquestion,purchaseislumpsumwhichyoucandoanytimeasperyourwish.SIPisa
systematicandautomatedpurchaseexecutedatapresetdateusingthePayEezzmodeofpayment
Reply
1.RSwaminathanApril23,2016at12:57pm
hi.IalsohavetakentheCANno.butonlythingis
1.itshowsonlytotalunitholdings
2.itdoesnotshowthevalueordetailsofholdings
3.thepurchasesdoesnotshowsamedayNAVbutT+2days
4.cannotseeanyMFdetailsasnoprovisionforopeningliketheMFssites
thepayemntsevenifmadethrubanksitedoesnotgetcreditedtothemsameday.sonavisnottheday
ofpurchase.
Ispokeotthembuttheyarenotsurewhentherewillbeupgrading.funnythatitisamfuof25amcs.
buttheamcshvtheirownwebsitewhichismorebetterthanmfu
isitworthcontinuingthissiteisabigquestion
Reply
23.RajaRajagopalApril21,2016at11:53am
HiAnish,
Hopeyouandyourfamilydoingwell.
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8/11/2016
Thankyousomuchforyouradviseandreply.
Onemoreclarification,Couldyoupleaseadviseme,HowcanIcheck,Howisthemarkettodayandeitherwecan
purchasethefundornot?
orelseanytimewecanpurchase?
whichisbesttimetopurchasetheMF?
Thanks&Regards,
RajaRajagoapl
Reply
24.JayadeepPurushothamanApril23,2016at10:48am
ThankyouProfPattuandAnishthiswasreallyhelpful.Ihavebeenthinkingofdoingdirectinvestmentsfora
while,butIhadalongtimefinancialadvisor(commissionbased)whowasofferingadvicefreetillnow,butwants
feenow.SoitwastimetocallitquitsandgoDIY.
InitiallyIwasgoingtothefundhouseportalsandinvesting,butFranklinTempletonwasachallengebecausemy
bankHSBC(onlineportalisthelousiest)wasn'tavailablefromtheirportal.SoIfiguredoutMFU,thoughIdidthe
initialinvestmentgoingtoaCAMSPOS,thingsworkedprettywellafterthat.AndnowthatIhavedonean
investmentvialMFUtoFT,myICICIbankaccountalsoshowsupinFTonline.
Andneedlesstosay,freefincalhelpedmebecomeaDIYinvestorgainingsomekeyinsightsfromtheblog.And
mostofthethingsalignwithmywayofthinkingaswell.ThankYouProfPattu!
Reply
1.AnishMohanApril23,2016at10:52am
ThankyouMr.Purushothamanforthefeedbackanditisapleasureforustobeofanyservicetoyou.Keep
investingviaMFU.
Reply
25.PeteDeltoroMay5,2016at12:13am
Heyblogpost,Iwasfascinatedbytheinformation.Doessomeoneknowifmybusinesswouldbeabletoget
accesstoasampleSECFormSEC1410documenttofillout?
Reply
26.jayakumarJune14,2016at3:11pm
RecentlyIregisteredandgotaCANno.Iwanttonarratemyexperienceandwantsomeclarification.Ihavebeen
buying(inthepasttillnow)MFunitsinREGmodeusingmyICICIDirectandAXISDirectbrokerageaccountsand
areheldinrespectivedemataccounts.
OnceIregisteredCANandloggedintotheaccount,inthedashboardIcanseethatmutualfundunitsheldinboth
ICICIDirectandAXISdirectaremappedhere.SomemutualfundunitsheldinAXISDirectIwantedtoswitchto
DIRECTmodesamefundunitsandthroughMFUonlineIcouldcarryouttheswitchtransactionsmoothly.
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ButnowtheswitchedDIRECTunitsareonlyvisibleinmfuonline.com
CANaccountdashboardandIcannotseethesameinmyMFholdinginAXISDirect.Isitok?.IsitthatDirect
modeunitswillnotappearinAXISDIRECT.IfIwanttotransfertheseDIRECTunitstomyAXISDIRECTDPId
shouldIfillupsometransferformtotransfertoAXISDIRECTDPaccount.
Reply
27.AnishMohanJune14,2016at4:36pm
Bythistime,Ithinkallofthesewishlistshavecometrue.Point12and3arecompleteasIcansee...Pleasehold
patience..Manymorethingsaretocome.
Reply
HiMr.Rajagopal,thisisagoodquestion.However,thiscannotbeansweredinasinglereply.Therearepointersin
theblogofhowtoplanyourpurchasesandIrequestyoutogothroughthem.Theyareimmenselybeneficial
articlesandwillhelpyouforsure.
Reply
DearJayakumar,regardingthisquestion"ButnowtheswitchedDIRECTunitsareonlyvisibleinmfuonline.com
CANaccountdashboardandIcannotseethesameinmyMFholdinginAXISDirect.Isitok?."
Thisisperfectlyok.TheDIRECTfundsdonotbeartheARNnumberwhichtheregularfundsusedtohave.
thereforetheDIRECTfundswillnotbefedtothedistributor(AXISDIRECT)inthiscaseandhencetheywillnot
neverappearinAXISDIRECT.
Reply
30.JayakumarJune14,2016at6:52pm
ThanksAnishforyourimmediateresponse.DoesthatmeanthatifIwanttolaterredeemtheseDirectunitsthru
onlinetransactionIcandoitonlythrumfuonline.com?
Reply
Mr.Jayakumar..youareabsolutelycorrect.
Reply
ThanksAnish.SlowlyIwilllearnmoreIthink.
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8/11/2016
Reply
DearAnish,
WhenIwantedtobuysomeMFunitsfortransferringmoneytheyhavesentmethe
beneficiaryaccountdetails.NowinmyICICInetbankingaccountIwantedtoaddthis
accountasbeneficiaryaccount.ButIneedtoknowwhetherthisaccountissavingsa/corcurrenta/cor
loanaccount.
Ihaveaskedclientserivicesatmfuonline.com.InthemeantimeIamalsoaddressingtoyou.Doyou
haveanyideaaboutwhatisthetypeofaccountofthesebeneficiaryaccounts.
Reply
DearMr.Jayakumar..Isetitupasacurrentaccountitself.
Reply
Yesthatiscorrect.LaterwhenIcalledtheircustomercarenotheyconfirmedthatitistobeselectedascurrent
account.
Reply
32.SureshGadupuJune22,2016at12:02am
AspointedinthearticleoneofdrawbackofMFUtilitiesisthemissingDashboardtoviewtheinfolikeinvested
amount,XIRRofeachfundandportfolio.Butwecanovercomethisbyusing"unovest.co"freeaccountfacilityfor
themomentwhichisalsobasedontheMFUtilityplatform.RegisterwithunovestandGetyourconsolidated
statementfromcamsinPDFformatanduploadthedocumentinunovest.ThesitewillimportthedatafromPDF
andwillshowyoutheportfoliosummaryandallthetransactionsdone.Ihavesuccessfullyimporteddatafrom
consolidatedstatement.Butyouneedtokeeponimportthedataonceinawhiletoseelateststatusasnew
investmentisnotreflectedautomatically.Formoredetailsonunovestfreeacpleaseseefaq
Reply
33.KaranBatraJune22,2016at10:57am
Thanksforwritingthisusefularticle
Smallquery
1.Ihopeeverythinghappensonlineincludingaccountregistrationforekyccompliantusers
2.JustinquisitivetoknowhowMFUtilitywillmakemoneyprovidedtheyareneitherchargingtheusersdirectlynor
theAMC's.
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Reply
34.ManiJuly5,2016at8:02pm
Anish,
WhenaCANiscreated,doesitmapexistinginvestmentsmadethroughabroker(likeICICIdirect/kotak)available
inthedashboard?
IOW,intheapplicationform,ifIchosenottomentionmydemataccountnumberandforallfuturepruchasesuse
MFutility,willitstillmaptotheCAN,theolderunitsthatIholdindemataccountwithbroker?
Iseeinoneofyourearlierrepliesyoumentionthis:
Mr.Jagan,thisisnotasillypointatall.Infact,thisisanextremelygoodobservation.IrealisethatMFUdashboard
willgoblankifyouholdALLunitsinDEMATmode.MFUunitsareshownonlyforthoseunitswhichareinSOA
statementofaccountmode
ButthenIseeanothercommentfromadifferentuserwiththis:
RecentlyIregisteredandgotaCANno.Iwanttonarratemyexperienceandwantsomeclarification.Ihavebeen
buying(inthepasttillnow)MFunitsinREGmodeusingmyICICIDirectandAXISDirectbrokerageaccountsand
areheldinrespectivedemataccounts.
OnceIregisteredCANandloggedintotheaccount,inthedashboardIcanseethatmutualfundunitsheldinboth
ICICIDirectandAXISdirectaremappedhere.
SoI'malittleconfused.Doexistingunitsindematmodepurchasedviabroker,maptotheCAN?
Thanks!
Reply
1.AnishMohanJuly5,2016at8:56pm
TheunitsheldindematmodewouldbevisibleinMFUdashboard.
Reply
AlltheolderunitsheldindematandSOAmodewillgetautomaticallymappedtotheCANandthedashboard
shouldviewall.mfuisdesignedthatway.Bytheway..icicidirectonlysupportsSOAmodeofmfpurchases
andsoamsurprisedhowdidugetunitsinDmnatformatoficici?
Reply
Mr.Mani,Istandcorrectedinmystatementdoneyesterdayon5thJuly.Irectifythestatementandnow
convincinglyanswerthatonlySOAbasedMFwillbedisplayedontheMFUDashboard.Sorryfortheconfusion.
WhyandHowIcouldconcludetothisstatementisaseriesofpostexchangebetweenmyselfandMr.
Jayakumarafteryourpostyesterday.PleasereadtheexchangeofthepostsandhowIconcludedtothispoint
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8/11/2016
inaposttodayon6thJuly.
Reply
35.JayakumarJuly5,2016at9:17pm
IwanttoclarifymyearliercommentasithasbeenreferredtoinMr.Mani'scomment.
IconfirmthatonlyMFsboughtinSOAmodeismappedinCANdashboard.Mfsboughtindematmodedonot
appearinCANdashboard.Aftermyearliercommentwhichconfusedyou(IhavejustopenedmyCANaccount
then),IhavelearntmoreandIconfirmMFsindematmodeisnotmappedinCANdashboard.
Reply
Mr.Jayakumar,canyoupleasecheckthisoutagain.MywifehasoneMutualFund(FMP)holdinginthe
AxisDirectdemataccount.ThisholdingisdisplayedintheMFUdashboard.Maybe,theCANmappingtothe
dematheldfolioinyourcaseisnotcompleteandhenceitisnotappearing.Ifyouwouldlodgeacomplaintin
thecomplaintmoduleofMFUregardingthis,thenitmightgetsolved.
Reply
36.JayakumarJuly6,2016at10:06am
Imadethiscommentfrommyexperience.IholdademataccountinHDFC.IboughtsomeMFsthroughexxchange
(againboughtthruExchangemodeduetolackofknowledgeatthattime)andtheseappearinmyHDFCdemat
balancealongwithothersharesbought.
TheseMFsinmyHDFCdemataccount(ibelievethisisdematmodeforthisMFs)itseemscanbesoldagain
throughexchange.IalsolearntlaterthatonlysomeMfscan
beboughtorsoldthroughtheexchanges.
IwasreferringtotheseMFsandtheydonotappearinCANdashboard.
Jayakumar
Reply
DearMr.Jayakumar,Iamnowabletounderstandthebasisofyourconclusion.Andtheoddpartofit,we
havingthesamecircumstancebutwithdifferentoutcome.Letmesummarisethis.
1.TheHDFCSecuritiesallowONLYdematbasedmutualfundssincetheybuyviaBSEStarMFplatformwhere
thosemutualfundschemesarestoredindematformat.ThereforeallMFboughtbyyouviaHDFCSecarein
demataccountonly.
2.AxisDirectallowsBOTHBSEStarMFandalsoSOAbasedMF.MywifehastheFMPboughtonBSEStarMF
andIhaveboughtthesameFMPviaSOAmode.
3.ICICIDirectallowsONLYSOAbasedMFpurchasesandhenceFolioboughtviaICICIDirectwillsimplyget
mappedtoCAN.Thisisstraightforward.
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8/11/2016
WithPointNo.2,theFMPwaspurchasedfromAxisAMC.TheFMPwaspurchasedinpaperformbuttheunits
werecreditedintotheDematAccount.ThereforethepurchasewasNOTviatheBSEStarMFplatformandwas
paperbasedviaadistributorwiththestorageoptionsbeingthedemat.HenceIwasallottedaFolioNumber
andthereforetheFoliogotmappedtoCAN.HenceitappearedinMFUDashboard.So,inspiteofFMPbeing
storedinDematformat,stillappearsinMFUdashboardinmycase.
WithPointNo.1,theregularmutualfundswereboughtviatheBSEStarMFplatformandthereforemaynot
haveaFolioNumberperse.SincethereisnorecordoftheFoliowiththeregistrar,hencethereisnomapping
oftheCANtotheFolio.HencetheMFUDashboarddoesnotdisplaythesame.
IthinkthatisthereasonwehavedifferentoutcomesinspiteoftheMFindematformat.
Reply
1.JayakumarJuly6,2016at12:56pm
ThanksMr.Anish.Youhaveincreasedmyunderstandingofthesedifferentformsofbuyingthemutual
funds.Therewerecertainunderstandingsofthesedifferentmodes.Withyoursummarisingalotofpoints
IthinknowIknowalittlebetterthanbefore.
Thanks,
Jayakumar.
Reply
37.JayakumarJuly6,2016at10:10am
ActuallyIcontactedMFUregardingthese.IwastoldthatfirstIhavetorematerialisethese
mutualfundbygoingthrumyDP.
Ididnotproceedfurther.
Rgds
Jayakumar
Reply
Anish,ThanksfortheclarificationonDEMATvsSOA.ItappearsthatI'vebeeninthewrongimpressionthatmy
unitsareindematmodesinceitappearedintheNSDLCAS.SoIguesstheywillgetmappedtoCAN.Istillhavea
fewquestionsthough,I'dbemuchobligedifyoucouldclarify:
1.DomappingstoCANdependonNameofholderorBankmandate?(FromwhatI'mreading,Iguessnot.It
dependsonPANnumberratherandorderofholdersandnumberofholders)
2.IntheeventthatIapplyforaCANaccountwithajoinholder,whatrightswillthesecondholderget:
Willstatementsbesenttothem?
FromtheMFUFAQ,Iunderstandonlineaccessisonlyforprimaryholder.ButanotherquestionintheFAQalso
saysthatsecond/thirdholderscannottransactbutcanviewthedetails?Howisthatpossibleiftheyarenot
grantedaonlineaccessinthefirstcase.
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8/11/2016
3.Oncecreated,canweremoveajointholderfromaCAN?Ifsoaftertheremoval,thecombinationmaymatch
anotherCAN,inthatcasewillthisonebefoldedintothatone?
Thanks!
Reply
Pleasenote,thesequestionsarewithrespecttoJointholderinAnyone/Survivormode.
Reply
ThanksMr.Mani.Letmemakeanattempttoanswerthequestions
1.TheCANmappingisgiventoinvestorsPANandtheirorderofholdingandmodeofholding.E.g.IfCANis
forAandB,whoaretwoindividualswithPANPAandPBwherePAisPrimaryandPBisSecondaryandthe
modeofholdingisEitherorSurvivor,thenALLFOLIOSwheretheholdersarePAfollowedbyPBinEitheror
SurvivormodeshallgetmappedtotheCANprovidedtoA+B.Butwithalltheaboveconditionsremaining
same,ifthereisanyFoliothatjustdiffersbymodeofholdingas"Joint",thatFoliowillNOTgetmapped.In
short,thefashionofcompositionoftheCANhastomatchthecompositionofholdingdetailsoftheFolio.
2.Statementswillnotbesent.TheOnlineaccessisgiventotheCANandnottotheHolder.Thatmeans,there
canbeONLYoneUserIDagainstONECAN.Nowthesecondpartofreadonly..Ignorethat.TheFAQmay
requiretobeupdated.IfAandBaretwoindividuals,theycanhavetowCANsasA+BandB+A.WhenAlogs
in,hecantransactonCANholdingsofA+BandonlyviewtheholdingsofB+A.However,MFUnowallows
transactingonB+Atoo.Henceignorethatpart.
3.IthinkremovalandadditionisNOTpossibleexceptotherthandeathofoneunitholder.Therestpartof
automaticmapping,isatrickyaffair,andIwillnotbeabletoanswerthat.Logicallyitseems,itshould,butI
reserveanyfurtherspeculationowningtomyignoranceoftheextantlawregardingthis.
Reply
40.TripsJuly13,2016at5:39pm
thanksfortheveryinformativearticle.Myquestionisw.r.tthisarticlewecannotinvestinGrowthplansofthe
MFsthroughMFutility?Onlydividendoptionisavailable?well,thatdoesnotmakeanysenseifIwanttoget
compoundedinterestthroughmyinvestments.
Reply
1.freefincalPostauthorJuly13,2016at7:43pm
Youcaninvestinanykindofplan,incgrowth.
Reply
29/32
8/11/2016
HiAnish
Withreferencetoyourarticlequotedasbelow:
"SelecttheDividendoption.IfyouselectGrowthoption,itautomaticallychangestoNotApplicable"
Fore.g.ifIwanttoinvestinTataBalancedFund(G)willIbeabletodoso?
Reply
Yescertainlyyoucandoso.Theenglishsentencesareabitconfusing.Growthoptionwillnotallowthe
dividendoptiontobeselected.
Reply
ThanksAnish.Muchappreciatedarticle.
Reply
Doletusknowwhatyouthinkaboutthearticle
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How To Buy and Sell Direct Mutual Funds Using MF Utility Portal

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