Tuesday, July 22, 2008

Online Mutual Fund Services - be careful before you decide !

There is lot of trouble if you have taken account with Timeofmoney.com

They stopped BUY option from their website 3 months back. Now their website is out of sync for the NAV information. So you need to do look out for REAL NAV information in websites like http://www.valueresearchonline.com before you decide to SELL using their website ..well luckily the SELL option is still available !

So this is a good lesson learned for people who were looking for online options for MF services. So my recommendations would be :

  • Go directly with AMCs - the biggest benefit is the Entry Load - I am yet to verify this !
  • Better management of Funds
  • You actually need 2-3 AMCs to cover all the BEST Mutual Funds
  • Once you have done First Investment via the AMCs, they allow you to transact using their websites.
  • Going with Banks and established portals like ICICIDirect, HDFC is better than choosing some Online Broker for your investments.
  • I can't think of any other advantage at this point :)
Happy Investing !

1 comment:

Anonymous said...

hey Sandeep is online trading safe but I heard that they take too much charge as brokerage and also the annual Maintenance fee is too high. As far as mutual funds are concern it is rather safe then any other security available. But knowing some mutual fund dictionary can be helpful for your blog reader.