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Mutual Funds Along with a Basic Terminology Or Nomenclature in the Last Issue

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Mutual Funds Along with a Basic Terminology Or Nomenclature in the Last Issue Dr. Bhavdeep Singh Ahuja: Finance for Dentists Part X – FINANCE for DENTISTS – Part X The Current Scenario Author: Dr. Bhavdeep Singh Ahuja Continued from WJASR Volume 2 Issue 5 – Sep–Oct 2019 Issue First Part September – October 2019 Issue – Second Part DISCLAIMER: Although every effort has been taken to make sure that there are no mistakes, there might be still, some mistakes inadvertently crept in the article. Please notify the same @ author’s email: [email protected] or Call/Whatsapp: 98761-93039 and they will be corrected ASAP. We had covered the introduction about mutual funds along with a basic terminology or nomenclature in the last issue. Let us continue ahead of that: Mutual Funds – Modes of 1. Lumpsum Investment: It Investment refers to a one-time investment that an investor makes. If one Investors can invest in mutual has a large sum of disposable funds via two modes of investment, income in hand, coupled with a namely, Lumpsum investment or good risk appetite, he/she can Systematic Investment Plan (SIP). go for a lump sum investment. When investors consider investing 2. Systematic Investment Plan in mutual funds as a beginner, the (SIP): Systematic Investment first thought that comes to their Plan (SIP) is a mode of minds is whether to go for the investment in mutual funds former or the latter. that allows regular investment www.wjasr.in World J Adv Sci Res Vol. 2 Issue 5 September – October 2019 Pgs. 140 - 155 Dr. Bhavdeep Singh Ahuja: Finance for Dentists Part X of small amounts of money at How to Invest– in Mutual predefined intervals. This Funds? – DETAILS instills disciplined investment Or habits amongst investors who find it difficult to save. One What do you need to get started with Mutual Fund can also give Standing investing? Instructions (S.I.) to the fund house for auto debit of 1. To invest in a Mutual Fund, a installment amount from the potential investor needs to bank account. complete their Know Your Client / Customer (KYC) Mutual Fund Eligibility details. This is to make sure Anyone can invest in mutual that one understands the funds. The minimum investment possible risks and rewards can be as low as Rs 500. Both before registering in a Mutual resident Indians and NRIs (Non- Fund. resident Indians) can invest in 2. To start investing in a fund mutual funds. You can also invest scheme you need a PAN, in the name of your spouse or kids. Aadhaar and Bank Account and If your child is a minor (below 18), be KYC compliant. your details have to be mentioned 3. The bank account should be in while investing and you operate the the name of the investor with account till he or she turns 18. the Magnetic Ink Character Even partnerships, Limited Liability Recognition (MICR) and Indian Partnership firms (LLPs), Trusts Financial System Code (IFSC) and Companies can invest in details. These details are mutual funds. Investments in mentioned on every cheque leaf mutual funds can be made by a and it is common for an agent variety of investors such as or distributor to seek a individuals, partnership firms, cancelled bank cheque leaf. Qualified Foreign Investors (QFIs), 4. Moral – You can't invest with registered Foreign Institutional Black Money. Some people still Investors (FIIs), Persons of Indian are under this belief that they Origin (PIOs), Non-Resident Indians have 2 types of accounts – (NRIs), cooperative societies, Hindu White and Black or 1 No. and 2 Undivided Families (HUFs) etc. To No. Believe me if you think so, invest in mutual funds, applicants you are still living in a dream are required to be KYC compliant; land. Even, after November more on that below in the upcoming 2018, Hon’ble Supreme Court section. order of no mandatory Aadhaar-PAN Linking; No www.wjasr.in World J Adv Sci Res Vol. 2 Issue 5 September – October 2019 Pgs. 140 - 155 Dr. Bhavdeep Singh Ahuja: Finance for Dentists Part X Bank, be it nationalized or you start investing in– the systematic private opened account without investment plan (SIP), you need to the duo (except Jan-Dhan fill in two forms: Accounts) and as per RBI data, 1. One to open an account with almost 90% of bank accounts the mutual fund house. have already been linked with the same before November 2018 and and the remaining 10% which were or could not be linked 2. The other to specify your SIP were either dormant, deceased details such as frequency, or NRI (not exactly NRI, but monthly installment amount domestic people who went and date on which the SIP sum abroad and have been blocked is to be invested/deducted from for transactions anyways). account. Documents required to be Investing for Minors submitted along with KYC 1. If you wish to invest in the application name of a minor, you need to 1. Recent passport size fill in a third-party declaration photograph form. 2. Proof of identity such as a copy 2. Only parents (not grand- of PAN card (mandatory now) or parents unless they are UID (Aadhaar) or Passport or guardian in case parents are Voter ID or Driving License. deceased) are allowed to invest 3. Proof of address –Aadhaar or on behalf of their children. Passport or Driving License or 3. Documents that establish the Ration Card or Registered parent's relationship with the lease/sale agreement of child should be submitted residence or latest bank A/C (Passport, Birth Certificate or statement or Passbook or Latest any other ID proof). telephone bill (only landline) or 4. If the child has no parents in latest electricity bill or latest case of an eventuality, then a gas bill, which are not older court-appointed guardian can than three months. invest, if necessary 4. If I simplify the above language documentary proof is submitted – Photograph, PAN, Aadhaar, to establish the relationship Cancelled Cheque between the minor child and the guardian Mutual Fund Application Form Each mutual fund scheme has a The next MOST important form that the investors need to fill. If question is how? www.wjasr.in World J Adv Sci Res Vol. 2 Issue 5 September – October 2019 Pgs. 140 - 155 Dr. Bhavdeep Singh Ahuja: Finance for Dentists Part X their bookkeeping services– but other MODES to INVEST in Mutual than that, the AMC can not pay Funds them commissions or compensate There are two types broadly – them (at the cost of the investor) for Regular and Direct. selling direct plans. Even today, scores of Indians believe So, after direct AMC websites, CAMS that investing in regular mutual and Karvy came the MFU. The MFU funds via their banks or via certain opened the floodgates for direct portals or via their sales guy offering investment portal startups. door service is “free”. They believe Today I would estimate at least 25 that these agencies are paid such direct portals depend on the commissions from the fund houses. MFU for transactions like GROWW, They also believe that the ICICI Direct, Zerodha, Sharekhan commissions come from “elsewhere” etc. Their charges may vary. without understanding the vital fact One can invest online or offline or in that when you buy a regular mutual direct as well as regular plans. Like fund plan, commissions are everything else, each option has its removed from your current limitations and advantages, which investment value every day before vary for each investor. Let us just go the NAV is published. through all options presently When direct mutual funds were available: introduced in January 2013, the 1. Direct Plan: As I said above, only way you could buy them was since January 1, 2013, all “direct” with the AMC (Asset mutual fund houses have rolled Management Company). out a new plan under all of Then you could buy “direct” plans their existing fund schemes-the via the transfer agents – CAMS (& Direct Plan. These plans are and then Karvy). targeted at investors who do not Then, there came along a make their mutual fund transaction aggregation portal co- investments through owned by the AMCs – MF Utility distributors and hence, have a (MFU) in 2015/16 or so. lower expense ratio compared Direct with AMC and MFU have no to existing fund schemes of the middlemen explicitly involved and is AMC. You get higher returns the cleanest way to buy direct but only slightly. The direct mutual funds. Why I say that it is plans will not charge clean (& free) because we know that distribution expenses or the AMC charges a management fee commission, resulting in these which is also deducted every day plans having lower annual before the NAV is published. CAMS charges and eventually, a & Karvy will get compensated for www.wjasr.in World J Adv Sci Res Vol. 2 Issue 5 September – October 2019 Pgs. 140 - 155 Dr. Bhavdeep Singh Ahuja: Finance for Dentists Part X different (higher) NAV compared with the AMC. – to the regular plans. 4. Directly with the AMC: You 2. Through intermediaries: A can invest in a mutual fund wide variety of intermediaries scheme by investing directly like most banks, distribution through the AMC. The first time companies having national or you invest in any Mutual Fund, regional presence, some stock you may have to go to the brokers (including online AMC's office to make your brokers) and a large number of investment. Subsequently, individuals and small financial future investments in different advisory companies. All fund schemes of the same AMC intermediaries have to be can be made online (provided registered with the Association this facility is offered by the of Mutual Fund in India (AMFI), AMC) or offline, using the folio which also maintains a number linked with your name searchable online directory at and PAN.
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