Best Direct Mutual Funds Platforms in India to invest online

Are you looking for online and cost-effective Best Direct Mutual Funds Platforms in India in 2018? There are many platforms with different features and pricing. Hence, let us discuss this which is best suitable for you.

What is a Direct Mutual Fund?

Direct Mutual Funds means investors buy directly from Mutual Fund Companies through their respective portals, MFU, CAMS or few online portals which offer such direct mutual funds online. Whereas regular mutual funds mean investors buy through middlemen (online or offline) like mutual fund advisers or brokers.

Due to no middlemen cost, such direct mutual funds offer you at lesser expenses than regular funds. The direct mutual fund has lower expense ratio than regular funds. Because of this, the NAV of a direct plan will be higher than the NAV of the regular plan.

Difference between Direct Mutual Funds and Regular Mutual Funds

# Expense Ratio

The Direct Mutual Funds expense ratio will be lesser than the Regular Mutual Funds. However, the difference varies based on the type of funds you choose and the particular fund.


Due to the absence of expense of middlemen, the NAV of direct and regular funds will be the difference. The NAV of Direct Mutual Funds will be higher than Regular Mutual Funds.

# Fund name

The fund name for regular funds will be like HDFC Top 200-Regular-Growth., However, for direct funds, the name will change as HDFC Top 200-Direct-Growth.

Also, you notice that in your account statement the ARN field will be mentioned as DIRECT.

# Returns

Due to less expense ratio, the returns will definitely higher than the regular funds. Even though the difference is around 0.5% to 1%, if you compound it for long-term, then it creates a huge cap.

For example, let us say Rs.1 lakh investment in a Direct Plan and a Regular Plan over 40 yrs. Your investments will be worth 35% more in just 20 yrs when you invest in Direct Plans (Assumption a 12% Return on investments and a Total Expenses Ratio of 1.0% for Direct Plans and 2.5% for Regular Plans.) Look at below chart.

Direct Mutual Funds Vs Regular Mutual Funds

Image Courtesy-Kuvera

Do remember that in the case of both regular and direct mutual funds, the investment objective, asset allocation pattern, risk factors and the fund managers are same. But due to the difference in expense ratio, your possibility to earn more than regular will be sure.

Advantages of Direct Mutual Funds

Below are the few advantages of investing in Direct Mutual Funds.

# Expense Ratio

As I explained above, due to the absence of middlemen the expense ratio of direct mutual funds will be lower than regular plans.

Even though the difference is around 1% to 0.5%, but in long run, this may create the huge difference. For example, if we consider HDFC Top Fund-Growth, then the expense ratio of regular funds is 2.04%. Whereas the expense ratio of direct funds is 1.29%. The difference of 0.75%. Even though such difference may not look big. However, if you are a long-term investor, then each year’s such 0.75% will create a huge difference.

Do remember that the expense ratio between direct and regular will not be same for all types of schemes and for all funds. It depends on the category of the fund and depends on the particular mutual fund.

I explained you about the expense ratio difference between direct and regular of HDFC Top 200-G. However, if you look at debt funds, the difference is lesser than equity funds.

For example, HDFC Liquid Fund-G expense ratio for regular funds is 0.20% but for direct funds, it is 0.10%. The difference of 0.1%.

Hence, the expense ratio between direct and regular funds depends on the category of the fund and the particular fund.

# Control in your hand

Due to the absence of any middlemen, the control of investment is in your hand. If you are the DIY (Do-It-Yourself) investor or hiring a Fee-Only Planner, then opting such direct mutual funds will give you an edge.

You can manage your money as per your wish but for that, you must know what you are doing!!

Disadvantages of Direct Mutual Funds

# Service hurdles

As there are no middlemen involved, you have to take care of processing activity which involves like KYC formalities and all. If you opted for offline mode, then form filling and submitting to respective AMC is the headache of yours.

Along with this, in a later stage, you may need to change the bank, nominee or change in KYC. In such situations, it is you who has to take care of all these processes.

# May not suitable for all

If you are a DIY investor or hired a fee-only planner, then such direct funds will give you an edge over regular funds. However, you are the first time investor or don’t know about mutual funds, then the same investment may sometimes be hazardous.

Hence, knowing about yourself and the need choose between direct or regular.

Best Direct Mutual Funds Platforms in India to invest online

Now you understood the meaning of direct mutual funds and to whom such funds are suitable. Let us move on and find out the Best Direct Mutual Funds Platforms in India to invest online.

Currently, there are around 19 platforms through which you can invest in direct mutual funds. Choosing the best direct mutual fund platforms among them is not so easy but not so difficult also. However, considering the cost factor, I have shortlisted as below.

Best Direct Mutual Funds Platforms in India to invest online



  • Platforms which are totally free of cost are highlighted with green. The platforms which offers at nominal and at competative prices are highlighted in yellow.
  • Above chart is prepared based on the prices showed as on today. You have to refer the cost before jumping into investment.

You notice that few platforms offer you the flat fee and few as % of AUM or per transaction basis. Hence, in my view, it is always best to opt for a flat fee than the fee based on % of AUM or per transaction basis.

I will now divide the Best Direct Mutual Funds Platforms in India to invest online into three categories.

# Category One-Through Mutual Fund Companies portals

It is easy and no headache of relying on anyone if you are already KYC complied. However, the only hurdle is to remember the login details of each company portals. This is completely FREE.

Generating report is not an issue as you will get the consolidated account statements from NSDL.

# Category Two-CAMS/Karvy and MF Utility

You can utilize the CAMS facility for the Mutual Fund Companies to which it is a service provider. For the others, you have to rely on mutual fund companies portals only. As of now, CAMS provides services to below mutual fund companies.

  1. HDFC Mutual Fund
  2. DSPBR Mutual Fund
  3. Birla Sunlife Mutual Fund
  4. HSBC Mutual Fund
  5. ICICI Prudential Mutual Fund
  6. IDFC Mutual Fund
  7. IIFL Mutual Fund
  8. Kotak Mutual Fund
  9. L&T Mutual Fund
  10. Mahindra Mutual Fund
  11. PPFAS Mutual Fund
  12. SBI Mutual Fund
  13. Shriram Mutual Fund
  14. Tata Mutual Fund
  15. Union Mutual Fund

Karvy also offers the direct fund platform. Using Ktrack app of Karvy, you can buy the direct mutual funds. Using Karvy platform, you can buy the below AMCs direct funds.

  1. Axis Mutual Fund
  2. Baroda Pioneer Mutual Fund
  3. BOI AXA Mutual Fund
  4. Canara Robeco Mutual Fund
  5. DHFL Pramerica Mutual Fund
  6. Edelweiss Mutual Fund
  7. IDBI Mutual Fund
  8. India Bulls Mutual Fund
  9. INVESCO Mutual Fund
  10. JM Financial Mutual Fund
  11. LIC Mutual Fund
  12. Mirae Asset Mutual Fund
  13. Motilal Oswal Mutual Fund
  14. Peerless Mutual Fund
  15. Principal Mutual Fund
  16. Quantum Mutual Fund
  17. Reliance Mutual Fund
  18. Taurus Mutual Fund

MF Utility is one more FREE platform which supports all AMCs (Except Mirae Asset AMC and Canara Robeco AMC). Hence, it is one of the best and cheapest online platform in my view.

# Category Three-Online Platforms from SEBI RIAs providing Robo Advisory

Remaining all falls under online platforms from SEBI RIAs who provides Robo Advisory or just provide you an online platform to invest in direct funds.

Here, few portals are dependent on MF Utility. They are Unovest, Oro Wealth, Piggy APP, Bharosa Club, Wealthtrust App and Wixifi. Rest of all portals provide you independent service without relying on MFU.

However, The winner in this category is Kuvera. But Moneyfront and Invezta look offering the competitive pricing.

Conclusion-So as per above data, which is the Best Direct Mutual Funds Platforms in India to invest online? Is it respective AMC portals, CAMS or MF Utility, which offers FEE or the others?

In my view, either stick to respective Mutual Fund Platforms, CAMS or MFU. However, if you are looking for robo advisory and portfolio management services, then opt for the other options.

Again in other options, choose the one which charges you flatly rather than the % of AUM. Initially, such % based charges may look cheaper. However, in long cost may grow.

From above table, apart from AMC portals, CAMS and MFU, Kuvera and Mymoneysage are the real winners. After that, Zerodha looks good when it comes to charges. However, the biggest drawback of zerodha is that you have to hold the units in demat account. This is the biggest hurdle of managing fee of demat account. Also, you no need to have demat account for investing in mutual funds as the units are already in electronic format.

Hence, use either respective AMC portals, CAMS (if you are investing in CAMS servicing MFs) or MF Utility is the best direct mutual fund platforms in India to invest online. However, if you are looking for Robo advisory and portfolio tracking facility, then opt for others who offer you flat fee than % of the AUM-based fee.

Final choices of Best Direct Mutual Funds Platforms in India to invest online are as below.

  1. Respective AMC portals
  2. CAMS
  3. MFU
  4. Kuvera
  5. Invezta
  6. Mymoneysage

Refer our posts related to Mutual funds-

299 thoughts on “Best Direct Mutual Funds Platforms in India to invest online”

  1. Saurabh Sharma

    Hi Basu,
    How to invest a sip of 10k for a beginner earning 50k a month for the investment period of 10 years.

  2. Hi Basavaraj,
    if i want to choose between MF UTILITIES and Kuvera for myself as a starter(yet to start) in MF investment in 2020, which one you suggest?
    why have you mentioned ‘free’ against MF utilities and ‘completely free’ against Kuvera? are both meaning same?

      1. thanks for your response. whats your pick between Karvy and CAMS?
        i see that there are more option of MFs to choose from via CAMS(not sure if this is changed in due course of time).

  3. Hello Sir,

    I have already purchased couple of MF (SIP) from Brokers (Motilal Ostwal).
    How do i transfer those to Direct Mutual funds.

  4. hi basu,

    What is your comment on FundsIndia platform?
    I have been using it and their user interface is good.
    Curious to know your view on the platform.
    I thought it was a prominent platform but was surprised to see it didn’t feature in your analysis.


    1. Dear Aditya,
      They are the middlemen who provided online platform for REGULAR FUNDS ONLY. They not sell you DIRECT funds. Hence, if your intention is to invest in DIRECT funds, then better to stay away from such middlemen.

  5. Dear Basu,
    Thanks for the post. I read your article and planned to invest via Kuvera. But they don’t have a customer support. I get lots of automated emails, but nobody is there to respond if you write something to them. They ask me to upload my signature my scribbling on my touch phone. I find this to be very difficult to replicate (it’s ok for accepting deliveries from Amazon or Flipkart, but when lakhs are involved the smartphone scribbling signature is not good enough). Moreover, I was not sure if I could ever replicate that.
    So I wrote to them if I could submit a hardcopy of my paper/ink signature instead. I get so many emails from them but no reply.

  6. Thanks Basu sir for your detailed post here. Based on your analysis I have opted MFU as my uno portal and already made few SIPs and one time Lumpsums across different AMCs. The complete process to create an eCAN & verify a ePayeezee accoutn took less than couple of weeks. But post that every transaction was made easy. Only one KYC & payment instruction that stands for multiple AMCs.

    Also, now MFU has 30 AMCs in the list including MIRAE & CAN ROB too.

    Only drawback i see in this portal is the view where it only shows our investments and nothing else, literally nothing else to analyse NAV, Returns, AUM etc.

    Thanks again, if not this artical I would have invested in multiple AMC portal with several KYCs and multiple logins to manage.

  7. What about Zerodha Coin platform? They are now demanding to be totally free if you are a Zerodha trading account holder (Rs 300/yr)

  8. Hi Basu,
    how are selection for 14k sip for 15 years as child educational goal with 60:40
    Invesco India Contra – 2,025
    Motilal Oswal Multicap 35 -2,025
    Principal Multicap -2,025
    Tata Equity P/E Fund -2,025
    Aditya Birla Sun Life Corporate Bond -2,700
    Reliance Prime Debt Fund -2,700

    thank you

  9. As an investor i want to track my Mutual fund investment across different AMCs. Which is the best website/app to have a comprehensive analysis of my investment to decide further?

  10. Shyam Srivastava

    Guys, my strong recommendation is to go for, they have app also. It’s completely free of cost. The best thing is their customer relation. My experience with Kuvera has been far beyond my expectation. Earlier I had my mandate and SIP set up through another well-known online portal which also claimed to be free of cost but charging indirectly at backend. I had account with this well-known fund management portal and struggled when it came to closing my SIP and mandate with them as it was wrongly created. Even after my repeated request, this well-known fund management portal was not ready to close SIP or mandate. I got to know about Kuvera from one of my friend and got registered with them. I shared my problems of other portal with Kuvera team and they guided me on actions to get it resolved. I got it resolved to my satisfaction. I haven’t come across any other service provider who is ready to help you for your troubles with other service provider. Hats off to these guys from Kuvera. I do not want to malign other portal but I highly recommend Kuvera.

      1. I find it surprising. Kuvera especially Gaurav has always been prompt in resolving any issues that I would have faced. I have have moved completely to Kuvera and I am happy with them.

      2. Shyam Srivastava

        I agree with subramani. My experience has been samewith kuvera. Very prompt and gaurav has been very prompt. Thats my experince in comparison to other in recent case.

          1. How’s MFU Customer Support?

            I’m yet to get a single reply from MFUtility, despite writing to them to get a folio mapped, for 5 months!

            Moved to Kuvera.

              1. Prasad Krishnapurkar

                MFU is just like typical govt dept. Phones keep ringing, emails are never responded.
                Had to escalate and threaten them with SCORES complaint when they started moving.
                Kuvera is good as far as support is concerned. Open for changes and solving issues. Super quick. However their UI needs some improvement.

                  1. Prasad+Krishnapurkar

                    Not defending or shaming anyone, sharing personal experience as an investor. Have been using mix of these to suit my requirements.

                    1. Dear Prasad,
                      I am not saying that you are shaming anyone. If you are comfortable with any one provider, then it is purely your personal choice. Hence, I respect it and you can go ahead. At the end it is your PERSONAL choice.

  11. Hi,
    I purchased some funds through Camsonline and those funds have been mapped with my portfolio at MF Utility. Now, can I redeem those funds purchased at CAMS from MF Utility.

  12. I use for direct mutual fund. This platform is not listed in your blog. Is it new ? Paisa bazzar is alos free. Any comment.

      1. Paresh Chauhan

        Yes they offer Direct fund at free of cost. They also offer transfer of existing SIP to Direct plan. (all new fund will be purchased with Direct plan, but old purchase will remain in regular plan).

        If suggest you study paisabazar and let us all have your expert advice with comparison (include comparison in above table).

        Earlier, I only knew about MF utility, but i had no customer support. In paisabazzar it was much better (at least initially).

        1. Dear Paresh,
          Their claim ” we will not make any money when you buy MF through us, but we hope that in the future you may choose us for other financial products like loans, credit cards, insurance etc. What’s important is that this a great product and helps you make the most of your money.” is MOST DANGEROUS THAN INVESTING IN REGULAR FUNDS.

          1. Paresh Chauhan

            Sorry sir, but I could not understand you perfectly. If I ignore them for other product, ts there any problem ?

              1. Also, paisabazzar’s customer support and UI are pathetic. There UI has bugs which they are not willing to rectify. I tried MFU, then paisabazzar and eventually moved to Kuvera.. Kuvera has proved itself to be a good choice so far.

          2. Dear Basu ji,

            If you notice, even Kuvera makes a similar statement. They, too, haven’t clearly stated how they make money. Although they have put some vague words, but it is not clear.

            Should we worry?


            1. Dear Manav,
              There is no affection between we the investors with these online portals. Hence, if you have doubt, then skip and move to another platform where you are comfortable. Yes, not disclosing the earning source for service they provide is the concern.

  13. Hi Basavaraj,
    It is very good informative blog. I would like to know, if I invest in MF through kuvera in some direct plan and in future kuvera suddenly closed there operation. What will happen to my investment?

    1. Hi Krishnakumar,

      Be it Kuvera or Clearfunds or any other (except Demat ones like Coin), it doesn’t matter if the websites closes etc.

      The MFs holdings are in your name and you can always do transactions on AMC’s website or RTA’s website.

  14. Update for Clearfunds : We have reverted to a free model where investors won’t be charged anything for investing.
    As always, there are no account opening or maintenance charges either.

    We have also launched an optional premium feature called Smart Portfolios.
    The Smart Portfolio pricing model has been kept at Rs.999 per annum per portfolio.

    Hope this information helps you update any previous articles as well as write any more going forward.

    1. Hello, Can you link to Clearfunds pricing so that we can understand better.

      Saying Free & Saying Free** are 2 different things, I would like to see what are the pricing plans..

  15. Hi basu,

    Clearfunds is also free now from yesterday !! You may want to update your post 🙂

    Dunno if this is Kuvera effect or preperations in view of future launch of Paytm Money!

  16. Hi, if I invest in direct MF through third party platform like grows, livers, unovest etc, is my funds/ units safe with the concerned MF house or are with the company whose platform I have used to purchase direct plans?
    What is my risk if this third party platform shut down? How will I get my MF units back?(Assuming they are not charging any fees)

    1. Yes Mohit, when you invest through the unit are safe with the concerned Mutual Fund house and you can always access them directly with your folio number and identifying information from the Mutual Fund website.

  17. Kudos to you.
    A well researched and very well written article.
    You’ve completely covered the abc’s of Direct Fund Investment.
    Thank you for your insight.`

  18. hii
    i am new in mutual fund . my age 37 year and i want invest in mutual fund a amount 10000 per month for a period of 3 -5 years… my risk capacity is modrete high
    advise me for best way to invest in mutual fund …also advice a best online plateform for this kind of investment

  19. Shahnawaz Ahmad

    Hi Basu

    There are some Banks offering Investment account from where you can Invest in almost all mutual funds , as per the bank they said they are not charging any commission and fees and its just a service for the account holders having savings account with Bank , Please advise if you have any comments, For example Kotak Mahindra Bank Investment account

    As of now I directly login to mutual fund website of the specifuc company and invest, appreciate your advise

    1. Shahnawaz-They are the BIGGEST LIERS OR CHEATERS if they are selling you in this way. They are not charging you commission UPFRONT. But they get commission directly from mutual fund companies which is adjusted in your NAV. If they are for such SOCIAL CAUSE, then let them sell DIRECT plans rather than REGULAR plans.

      1. Shahnawaz Ahmad

        Thanks a lot so as per your recomendations , better to login in to the company website and invest in their MF

  20. Prashant Kumar

    Hi Basavaraj,

    Really Appreciate your efforts for helping investors in understanding the mutual fund advises.

    I am planning to invest in SIP debt funds.

    I have selected three funds :

    1. Birla Sun Life Dynamic Bond Fund – Retail (G)
    2. Axis Liquid Fund (G)
    3.SBI Ultra Short Term Debt Fund (G)

    Please let know your advise on these funds . Do you think they perform well in the time period of 1-3 years ?

    Lokking forward to your comments !

  21. Hi Basu, Readers.

    Learnt that Paytm got SEBI approval today as registered Investment Advisor.

    With their tentative launch in April, this entire space of Direct Mutual Fund investment will become quite interesting to watch.

  22. Nice post! A user of kuvera here! It is a great portal. Very user friendly and has everything under the sun. One caveat though, they don’t support Franklin yet. They said they will add it soon though

  23. Hi Basu,

    I have done the ekyc through online portal (upwardly).
    But when i tried to open MFU( completely online) following error comes:

    ” The data submitted encountered the following validation error:

    CAN is not ECAN type

    Please review and correct the data and then re-submit. ”

    Do i have to done the KYC physically or there is some other method also.

    As i am not able to make MFU account online.

    Please advise.

  24. Kuvera is best completely free for direct plans MUTUAL FUNDS with easy n quick ekyc approval using invite code VDSYB.

  25. Hi Basu sir,

    This is really good blog which summarized most of the direct platforms mentioning
    its features so that a person can select which he needs based on his wish.
    I have invested thorugh kuvera and it was easy no charges absolutely.

    I have one question if we invest through zerodha i understand units will be given in DMAT account from your blog

    1. Actually what would be main difference between normal units and DMAT units?
    2. If a person has MF units in DMAT format will there be any particular challenges or advantages?
    3. What are pros and cons?

    Any more details on this would help lot of people here

    1. Sat-1) MF units are already in electronic mode and hence demat holding is not at all required. They offer this just to charge you for their charges. Also, you may face some difficulty in managing all as they ONLY show the units which are under them and under demat mode.
      2) I think service-related challenges be there.
      3) Let me write a complete post on this.

      1. Thanks for the reply. The reason why i bought this point here is when i started my SIP as first timer i had to wait for couple of weeks to complete all the processes and start with SIP as it was first time and i did not have ekyc done before also. One of my friend was also first timer to MF but had zerodha dmat account for trading so he did direct investment through zerodha immediately and got the folios/units the immediate next day. I understand for first timer and without DMAT would take some time in the beginning. I tried googleing but did not find much very informative or useful ariticle every where it was said its in dmat account that it.
        Hence i wanted to understand few differences and it would help others also who are in similar situations. Yes it would be helpful if u write post on this. Thanks a lot for u r responses

  26. Hi Bashu

    Some of the Banks like Kotak they are providing the investment account and claiming that its free of charge , you can use that accout to invest in any mutual fund , Please can you advise if they took any commision or any hidden %

  27. vijaya kumar Tadikamalla

    I am using website for my online Mutual fund SIPs from the last 5 years. Is it will be useful to change from that website to other?

  28. Any reason why Unovest top considered in Top 5 especially above Invezta which is not free.

    Though have not tried Invezta as they offer nothing for free user 🙁

    1. I meant to ask “why Unovest not considered” in top 5 above Invezta. It is based on MFU and offer good interface as well as analytics

  29. MF utilities totally free from any charges? any hidden charges collected from individual investors? are charges paid by respective AMCs?

  30. Thanks for this post with detailed comparison. I have used Kuvera & Unovest extensively and can share my experience with other users of this bog:

    Kuvera – is invite only as of now. I got invite from one of the founders via Quora and using it for last 1 month or so. They use Karvy CAS and once uploaded you can use same folios for further investment backed up via BSE Star. They are promising site as they offer free of cost investment into direct funds. For lumpsum investment you can start rightaway. To invest via SIP etc you need to register Bank Mandate and can start. For STP you need to initiate via email as they set it up from backend. Their email support is quite good and fast and they are receptive of ideas.

    But they need to do lot of work on their data analytics like XIRR Returns year wise, Realized Capital Gains, Investment distribution analysis etc and also provide options for reports to be exported to excel. Going to give feedback detailed feedback to them over email later.

    It looks very promising and am using it for my dad’s investment management. I can invite if someone wants to try 🙂

    2) Unovest – have been a user for past 1 year or so and had been using it only for Portfolio Analysis. Just learnt last week that it allows transactions and that too free of cost for one KYC.

    It uses MFU platform and once your CAN details are verified by them can start investing. I uploaded latest CAMS CAS, mapped my Folios with CAN and did a transaction today and it was breeze. The Portfolio Analysis, the feature for which I started using Unovest, is quite good. It offers capital gain / loss, gives summary, investment distribution into type of funds / sectors etc etc. The website is slow sometimes. And also Vipin – the founder seems quite active and shares useful information / DIY stuff.

    It looks very promising and along with Kuvera is on my radar. Since I do most of my transactions through MFU, will be using Unovest more and more. I am sure Vipin will continue to bring enhancements.

    1. Gagan,

      Thanks for sharing your review . Have you compared the fund recommendations from both Kuvera and Unovest.

      If you have any insight on the recommendations on direct portal, please feel free to share

            1. Well said, Totally agree your point.

              But for tracking and Re-balancing alert services, we can use these portal .

              Fund selection should be our own. Because its our money 🙂

                1. When you recommend Large cap ,Mid ,small cap ratio as 50:30:20 for long term goals.( say > 14 years) and asset allocation as 70:30 (EQ:DE) ,

                  My query to you :

                  1. Is it too aggressive – Because 50% of stocks belongs to mid/small caps.
                  2. How do you arrive this ratio – Based on Tenure of goal or Individual risk profile of the investor
                  3. Why Ultra short term rather than Income / Gilt funds (AAA rated).
                  4. If single portfolio approach of these funds (3 folios Eq + 1 folio Debt) for all the long term goals, then how to manage Asset allocation for each goal . This is the area , i am still not clear and planning to move to Robo portal for re-balancing aid.

                  Sorry basu, i am asking more queries to you 🙂

                  It will help me to clear all my doubt before move on to the portal or do my own.

                  1. Devan-1) But another 50% belongs to large cap also 🙂
                    2) Based on the time horizon. Usually, I avoid small cap if goal is less than 10 years.
                    3) Wait for another few months or check the historical returns of debt funds from last 6 months, you will come to know why I AM RECOMMENDING ultra short term rather than the categories you said.
                    4) It depends on the individual. You can create separate folios for each goal or else combine all investment under same folio.

                    1. 1) In general the experts advised to keep 30% to Mid cap and the rest to Large cap for safer allocation. So you are keeping 50% largecap.
                      2) Just because of returns ,you suggest UST funds. or
                      Interest rate risk is key concern in selecting UST.
                      3) If all investments combined to same folio, then asset allocation remains same for all the goals ( Even for 10 year and 25 years treat the same asset alloc )

                    2. Devan-1) In general I suggest small cap and that also in small portion than rest of the two if your goal is more than 10 years.
                      2) Just check the modified duration and average maturity of both UST and the funds you named. You noticed the risk and volatility.
                      3) Not at all. It is you based on your asset allocation you can do it considering each goal.

                    3. Basu,
                      Thanks for the response.

                      How do i segregate the asset allocation of each goal, when i am investing in a combined with Same folio for all the goals.

                      My understanding is, when combined all investments to same folio then asset allocation will be same for all the goals irrespective of tenure of the goals.

                    4. For instance if i am investing Quantum Long term Fund – 1 Folio
                      and i will allocate like below :
                      15% to Education goal
                      15% to Marriage
                      70% to Retirement

                      My first goal Education if its due in 3 years, then how do i reset asset alloc for this goal(Education) in the
                      overall goal list ( where as Retirement is 15 years away)
                      Because all the goals are sharing common folio and asset allocation will be same.

                    5. Please validate whether my plan is correct :

                      Education Goal SIP / Total Goals SIP amount = Education Goal % of Single Portfolio.

                      Like wise i am summing up all the goals SIP amount and invest in the 3 funds ( 2 EQ + 1 De).

                      Based on the above formula , i will allocate each % to the respective goal.

                      Please share your view . For this calculation and re-balancing to respective goal, i am looking for Robo portal for tracking.

                    6. Devan-Think in this way like how fund manager collects money from retail investors and again give it back to him when he needs (in a simple term). However, let me write a separate post on this aspect soon.

                  2. Basu,

                    Sorry i am not fully clear how to relate with Fund manager.

                    I am keenly expecting your post on this aspect. And also kindly explain with simple example.

                    1. Thanks Basu for considering my request.

                      Yes it will be helpful for all of us. I searched in web, but nothing found related to Single portfolio approach. So i thought Robo algorithm will solve this issue. Even Kuvera is handling all the goals in Single portfolio approach.

                    2. I am investing in the below funds for last six months. Now i am thinking of restruct it with one largecap ,one Mid cap and one Small cap for Equity funds. Debt part – I have PPF + EPF.

                      Please advice whether i can make the Market cap as you suggested in your post.

                      Quantum L/T Equity Dir
                      Sundaram Sel Mid Cap Dir
                      Parag Parikh Long Term Value Dir
                      Franklin India Prima Plus Dir

                      I have started this investments without understanding the overlap and Market cap in detail. Thanks to your post, which helps to me learn.

                      Please let me know, whether i can select fresh funds from your list for construction or make few selection from this existing funds

                    3. As i said earlier , i have no knowledge in selecting funds based on Market cap and overlap concepts. Some ratings / guess work selected funds on my own.

                      My goals are 14 – 25 years from now . So i think its best time to correct my portfolio. Kindly suggest how to reconstruct the portfolio .

                      Whether i can select fresh funds from your list for construction or make few selection from this existing funds

                    4. Ok, You mean i can construct fresh from your list . And i will leave the existing funds .

                      One more thing , How to find the pure cap funds. Hope we need to wait from AMC to implement SEBI cat rule.

                    5. Thanks basu, I have read the post in detail and now i need to finalize the funds for the selection.

                      ICICI Prudential focused blue chip
                      HDFC Mid cap Opportunities
                      Franklin smaller companies

                      Franklin smaller companies has not having Pure Small cap stocks, and it has equally distributed with mid caps .

                      DSP Micro cap has suspended subscription. So i can not choose DSP .

                      Can we hope, after SEBI categorization implementation, then Franklin smaller companies will be change its investment mandate to Pure small cap. In that case i will finalize Franklin smaller companies fund for small cap portion.

                    6. HDFC mid-cap asset size 20K crore is more than a Large cap fund.(ICICI pru focused) .

                      Will it be an issue in Mid cap space. Later convert to Multicap / Large cap fund like ICICI pru value discovery.

                    7. My understanding on Huge AUM of the fund :

                      1. Mid cap space is limited compare to Large cap Stocks in overall market cap size.
                      So with Huge AUM, there can be challenges for fund manager to find an opportunites to deploy the hugh cash for good stocks.
                      ICICI pru value discovery started as Mid cap fund, because of AUM size increased a lot, it has changed to Multicap fund.
                      Mirae asset Blue chip restricted subscription amount , because of spike in AUM.
                      DSP mirco and SBI small cap – both stopped taking fresh investments.

                      After SEBI categorization , HDFC Mid-cap may be converted multicap fund. Because they do not want to loss the huge AUM collected so far.

                      These are all my understanding, correct me if am missing somewhere.

                      NFO dates – You mean launch date ,, Hope both are older funds. But i am not clear , what are you trying to point here.

                    8. Devan-Our market and our equity funds are not so BIG and matured to arrive at these conclusions. These are all arrived at conclusion by few who want to prove something with wise selection of data point. Anything can be proved (positive and negative) by considering the data point which SUITABLE to us. Rest left with you to decide. Regarding restricted subscription by few fund managers, it is their views but the same is not followed by others.

                    9. Thanks basu for your views. Point taken.

                      My aim to make pure market cap funds for selection but it may be changed after SEBI categorization implemented by respective AMCs.

                      So thought of getting your suggestion on the selection of funds.

                      Really appreciate your great service and patience in educating me each and every micro information in MF.

      1. Hi Devan,

        No, I use these websites only for doing investments. Fund selection is done by me separately.

        Having said that, have seen fund suggestion from Kuvera as well as OroWealth etc and didn’t find great. Also Unovest doesn’t offer robo-advisory but human advisory if you subscribe to their plan.

        1. Thanks Gagan. Yes i too not so impressed with Kuvera recommendations,

          Unovest advisory is bit expensive, Well as Basu said, I will validate for the ease of use is the main criteria for these Portal selection for my investments.

          1. If you have CAN, can try Unovest immediately..

            I am finding it much better compared to MFUOnline which I was using earlier. May be for CaRT and CaST will still log into MFU.

            Kuvera is also good and you don’t even need CAN as it is based on BSE Star.

            For portfolio analysis & other things, need to find some good website !!

      2. Hello all, Gaurav from Kuvera again. Happy to discuss our fund selection, asset allocation, glide path and goal planning in details. Let me know what questions you have.


    2. Dear Mr. Gagan,

      I am already using Kuvera.There fund selection is not so great.Pl. let me know your experience about fund selection advise from Unovest in case of paid service.
      I will not mind to pay if the advice is genuine.I am thinking to get advice from them for building portfolio.If you know any other site for better advice, let me know


      1. Dear Manoj,

        Didn’t got notified of your comment earlier..

        To be honest, I don’t use fund selection advise from any website in particular. Have picked up ideas / inputs from websites like basunivesh / freefincal etc etc.

        Unovest seems good to go but can’t really say. Why don’t you try “fee-only financial planners”?

        Google for same.

    3. Hi ,

      I have registered for SIP through Kuvera but have just received confirmation from Kuvera. When i checked with AMC they say they haven’t receieved any such request.

      What to do?

      1. Hi Parag,

        Drop an email to [email protected]

        Typically it takes some time for registration and email should come from BSE Star. AMCs won’t mail / know till this actually starts!

        I have done STP with Kuvera and all going well.

        1. So it means i will not receive any mail for confirmation from AMC till sip start?

          I only got a mail from kuvera stating that my sip has been registered and they state that ‘You will receive confirmation from the fund house on the next working day’

          But i haven’t received it yet. I registered my sip on 13 Feb 2018. Its more than a week

            1. Hello Parag, this is Gaurav the CEO of Kuvera. Thanks for holding fort Gagan. Much appreciated.

              You will not get any email from the AMC. Rest assured your SIP order is placed and baring any issues with mandate you will get a reminder from us 5 days before your SIP date and hear from the AMC day after the SIP date re: allocation of units.


              1. Hi Gaurav,

                I invested a lumpsum amount on Kuvera but it got refused by the AMC as minimum amount for lumpsum investment is Rs 5000. I was earlier directed to invest lumpsum Rs 100 or 500 by your customer care executive for testing purpose.But it got refused by AMC & my amount got deducted.

                Now, I haven’t received my money back & i have mailed Kuvera 2 times for my refund still i haven’t received my funds nor the reply.

                For those who wants to invest through kuvera, please note that there is no check on investment of lumpsum amount on kuvera which result in rejection of fund.

                Please be careful before investing on kuvera.

                1. Hi Parag,

                  We have responded to your escalation yesterday evening and funds will be refunded to your account by the AMC within 5 business days.

                  We regret that you faced this issue but it is a deliberate flexibility & not an error.

                  Explanation of the issue: For the fund in question, the minimum first investment is Rs 5000 and Rs 100 for additional investments.

                  By default, only a Rs 5000 order can be added, but at the very last step when you select an existing Folio, we allow the amount to be revised downwards to the additional amount minimum, in this case Rs 100. This is because you could have external transactions in the Folio+Scheme that have not been imported and we did not intend to restrict the order amount. We presume that the investor knows as they can make this change only at the very last step.

                  This is a user requested flexibility/feature and not because we do not have that information.

                  When you spoke with our team, it was advised that you place an order for the minimum amount in the same scheme in which you have existing investments and in that case, a Rs 500 order would have gone through without issues.

                  In any case, we will work on improving the messaging so that this issue does not arise again.

                  Regarding any other issues that you notice, we are very keen to receive your suggestions and keep improving so do write in to [email protected].

  31. I have shortlisted Kuvera and Invezta portal for my investments.

    Other than price point, if any other review/comparison between these 2 portal will be great help.

    Invezta is having very good fund analytics features compare to Kuvera.

    Kuvera providing free financial planing and tracking of goals. But Invezta does not have Goal tracking in full force. So many things are missing in Invezta.

    Looking for your suggestions.

    My basic need is
    1. Goal tracking
    2. Rebalance alert
    3. Fund recommendations or Support of existing funds

  32. Thanks buddy,

    I have been investing in 9 mutual funds altogether directly through their respective AMC. I wish to cut my investment to only max 5 funds.

    Could you also help me whether i should use kuvera rather than individual amc as its get difficult to maintain so many credentials for all amc?

      1. 1. Mirae Asset Emerging Bluechip Fund – Direct Plan
        2. UTI MNC Fund – Direct
        3. Canara Robeco Emerging Equities – Direct Plan
        4. DSP BlackRock Micro Cap Fund – Direct Plan
        5. Birla Sun Life Equity Fund – Direct Plan
        6. Franklin India Smaller Companies Fund – Direct Plan
        7. ICICI Prudential Exports and Other Services Fund – Direct Plan – Discontinued
        8. SBI Pharma Fund – Direct Plan
        9. UTI Pharma & Healthcare Fund – Direct Plan
        10. motilal oswal most focused multicap 35 fund direct growth

        For Tax saving,
        11. Axis Long Term Equity Fund – Direct Plan
        12. Birla Sun Life Tax Relief 96 – Direct Plan

        Could you please help me to narrow the funds to 4-5 funds only. Because it gets difficult to monitot so many funds.

  33. HI,
    Iam an NRI based in Singapore. All the above platforms are applicable to NRIs ? Is there any specific recommendations ?

  34. Kuvera is offering Robo advisory for recommendation of funds. I am still suspect that how far these funds will be suitable to my goals.

    Only thing i like is , they are creating single portfolio for mapping all the goals and tracking , re balancing triggers are seems to easy.

    But choice of funds are totally algorithm driven. For instance , i prefer UST funds for Debt part, but the algorithm recommends Gilt Long term funds.

    Likewise some of the Index funds also in the part of equity funds. Totally confused with these recommendations.

      1. Great. Do you think these robo advisory recommendations are unbiased and totally selected by algorithm.

        Coming to my need of platform to invest :
        1. Single user interface to login and invest all AMCs funds in one place
        2. Portfolio tracking & re balancing alert to me periodically (once a year).
        3. Choice of funds i can choose, instead of Robo .
        4. Flat fee – should be reasonable

        Do you think any Portal can give me this list.

        When i am checking MFU – still Mirae Asset AMC is missing, So if i want Mirae funds, then MFU wont be suitable.



  36. Hi Mr. Basavaraj –

    Thanks for the information provided in your post; it was a good read!

    I recently invested with a mutual friends’ financial startup, with the same services that an intermediary broker/middlemen provide. I have invested around 25L in the past 6 months plus I also have SIP payments of around 40,000 per month. My portfolio is equity heavy since I also invest the full amount in my PPF every year. I am 30 years old, with a steady job and recently married [so double income :)]. No liabilities as such and living in my own house, paying an EMI for the home loan.

    Given the above, I wanted to ask how easy will it be to switch to Kuvera. And since my perspective is long term, 15 years minimum, how soon should I switch to direct funds.

    It’ll be great if you could advise.

    Thanks a ton!

    1. Sam-Switching to direct funds (either Kuvera or any other platform) is easy. But before switching consider the exit load and taxation from the regular funds and then take the call. You can move to direct, if you find the middlemen with whom you are investing does not adding any value to your investment and if you are comfortable to manage your money on your own.

  37. Hi basu,

    What is your opinion on robo advisory platforms which is recommending portfolio for a new customer based on risk profile.

    How these funds are differ from Fee only planner recommendations.

    Since its algorithm based recommendations, i think this will be common for all customer.

    Have you written any post on Robo advisory platforms and recommendations of funds. If so , please paste the link.

  38. Dear Basu,
    Q1 Iam a DIY investor using ISA a/c to buy Mutual funds via HDFC Bank Netbanking. I have about 40 Laks holding in Equity TopCaps and Midcaps of HDFC & SBI MF with good returns. From the difference shown in yoru article, should I consider shifting my long term holding > 4 years to Direct mutual funds? OR is the difference applicable only if I am buying afresh today.
    Q2 Is there an easier way from LTCG angle to shift to direct mutual funds instead of selling and repurchasing in today’s date?
    Q3. Is CAMS online a good choice for direct purchase? I shall use it for my son 23 yrs who is going to start investing in a year.

    1. Anupam-1) If you are DIY, then better you switch to direct funds (considering taxation and exit loads), this will definitely helps you.
      2) Based on the funds you are invested the taxation will play. Hence, considering this aspect you have to switch to direct.
      3) Yes, you can use CAMS.

  39. Very very nice article, I just came across.
    I was myself compiling/comparing all this stuff, for finding out best option for personal use.
    Thanks for sharing the detailed insight.

    but one thing which I am still struggling, and I want you to spend sometime and provide the insight is on Portfolio tracker website.
    I tried some/many, but all has some or the other problems.
    I did not like, the valueresearch’s, money control’s , ET one (no option to upload file from cams)., and few others that i tried, that lacked some or the other thing.
    Kuvera has some options in the portfolio tracker and lacks many for that I will be writing to them, and hope they improve on it.
    So can you suggest best one.
    At least it should have,
    1 :option to upload,
    2: tell me when I purchased each fund,
    3: Tell me the average cost ,
    4: tell me that a fund will have exit load or not, if I sell/switch today. (based on the date of purchase)
    and some more features to make it rich, but at least these many (in addition to the basics like profit / loss, summary, etc)

  40. Dear Sir,

    Thanks for useful article.I feel your articles are user friendly & clearing the concept.

    I am planing to use Kvuera. I have following queries

    1) Is Kuvera Authorized by SEBI?Is it legal facility?
    2) I do not understand their economy model as they are giving all services free then how they are going to survive, pl. comment.
    3) If I invest in SIP/lumsum in mutual fund through Kuvera & in future Kuvera stopped functioning ,in that case how I should handle the investment done through Kuvera.What is the way out?

    1. Manoj-1) Yes.
      2) They are about to launch some premium services, for those they are charging but not to these basic services (As shared by Kuvera Management with me).
      3) Kuvera acts like middlemen. If they shut the shop today, your money is safe with Mutual Fund Companies. You can easily do all transactions directly with Mutual fund companies.

  41. Sir please suggest me. Please suggest me 2 mutual funds direct plan for 10000 rs in SIP. I am invest all my MFs in regular plans through karvy my Dmat account.

  42. Hi Basu,

    Is it possible for you to add inception dates for all these portals (in category #3) for direct MF investment to asses how long they have been in market and how good they are at advisory (if any data available, like their suggested portfolio returns or any track record).

    Since, Category #3 is charging some fees for their robo-advisory and investment tracking services (goal tracking, portfolio analysis, generating tax statements, etc.) so its good to know what actually they are offering and is it worth paying or better go to MFU for free. In your view which of them is good in terms of advisory and investment tracking, if any.

    Thanks for such an informing article.

    1. Rahul-They are all new entrants. Hence, their age in no way matters to us. Also, we as investor must use their platform for DIRECT when we have enough knowledge or a fee-only planner guiding you. In my view, relying on their suggested funds is not a wise move. Hence, no need to bother about their suggested portfolio.
      My view-Use DIRECT Funds if you are DIY investor or a Fee-Only Planner is guiding you.

  43. I really find your articles very interesting and articulate, but like fin advisers, the real picture will be known only after few years after investing.
    I am 52 years old and have lost my wife two months back. I have a 11 year old d’ter and have myself undergone open heart surgery twice in the last 4 years. My corpus funds is NIL.
    Taking my health into consideration, I want to invest 20 lacs which I will recv lump sum. I am planning to invest @ 50:30:20 in equity/SWP with SIP / FDs, PPF etc.
    The big q’tion is which equity / MF I should go

    1. Hello Chandra shekar,
      For your age and background, you can choose good balanced fund and invest around 50% of your corpus.
      Remaining you can invest in debt fund and FD’s.
      After 60 years of age, you can take out the amount from debt fund and FD and invest in “Senior Citizen Saving scheme” or “Pradhan Mantri Vaya Vandana Yojana” after discussing with your financial planner.

      Periodically check your funds performance and do the corrections.
      Always remember, investments are not one time act.

  44. Mrinal Chakraborty

    Sir, I have a query. I had created my MFU account online and got my eCAN a month ago. But before setting up payezz mandate , I have started 2new SIP’s through ABSL amc website , these 2 funds are not mapped to my MFU account.

    How could I map those SIP’s to MFU in order to track all my funds through MFU and get consolidated statements ?
    Should I have to create a new CAN for this purpose?

      1. Mrinal Chakraborty

        thank you for your prompt reply . I already made a query to mfu team regarding the fact, but no response has come yet. today I have just sent an email.

  45. Hi..

    As it’s clear that only Kuvera is Completely Free.

    Is this site ok n reliable.
    How n why they offer such full free service.
    How do they make money.
    Do they sell our data n details.
    Do they recommend paid MF’s.

    In this world as on date nothing is Free.

    1. AAW-They are just act like middlemen. Even if they wind up their business today, then your investments are safe with AMCs. Regarding their free service, they are coming up with different innovative services and planned to generate revenue from that. For basic investors need, they want to keep it free. If they start to charge, then you can move to other platforms. Why to worry?

      1. Hi..

        I don’t think any other else is offering such full free services.

        Also free means any limitations n restrictions.?

        Can I take my existing Direct Plan investment on Kuvera platform.

        1. AAW-As per their confirmation there is no limit and completely free. However, instead of relying on these middlemen platforms, it is always best to have online access to respective MF companies portal as a safety measure.

          1. Right….

            Also, if we open such middle man account is it right to Import Existing investment n Folios with them
            ( Existing Direct Plan )

  46. Dear Basavaraj,

    Just a general question. In the 1990s I had stood in a Q to buy UTI primary equity fund NFO with a cheque for 20,000 in my wife’s name. Then I forgot about it, like I did in my 30s. Those were the pre internet days and every body did that in Mumbai. Then in 2000 I moved to my hometown – Kolkata after 24 yrs in Mumbai. I had the good sense of going to Gulmohur Road in Juhu and get my address changed at the UTI office. The PEF then was terminated and the money moved to Opportunites fund all on its own in I think 2005. Then in 2015 I got an IPV done and could transact online.

    My question is why were my units not shown as direct ? I had to manually redeem the regular plan and move it to the direct plan online smoothly. FYI the 20k had grown to just under 4L. I still dont know whether moving to direct plan was a sensible thing to do. Otherwise my purpose was to just move from Dividend reinvestment to payout. I used the payout to cover an ELSS investment.


      1. Ok thanks, but what is your answer to my first question ? Why wasn’t my investment already direct ? I think there were no ARN involved anywhere in the process. Who was stealing my money ? My 1 % ?

        1. Subha-Earlier there were no direct funds. Hence, the funds invested before the launch of direct funds still lay with regular funds. Your AMC is eating the commission, which may be as high as more than 2%.

  47. I have a tricky problem- I have invested a lump sum amount in a liquid fund & the started a SIP to
    an equity fund @ 1000 per week. As on 31 March 2018 , I would have redeemed part of my liquid fund
    so there will be capital gains tax on that amount . problem is – how to calculate it ?
    My plan is to stop the SIP one week in advance of FY-end . Cash the remaining liquid fund for
    one day & reinvest it .
    Is there any other easier solution?

  48. Hi Basavraj

    This is best website I found which explains in detail all caveats of investment. Thanks for the same.
    My scenario is complicated.

    1. I am doing investment in equity / Shares – This is as per advice from Financial manager who handles my port folio. But I have paid hefty price upfront as I wanted to invest in share market but was not comfortable. I am planning to do it same was for at least next 3 years.

    2. I am investing in MF by using ICICI direct Rs 15000 SIP every month. Now reading your article I wish to switch to direct fund as I am planning to do it long term. Should I sell out all my MF and start fresh and do lump sum investment by using MFU??

    3. I am also investing through another agent who took around 8000Rs upfront and who is monitoring my MF portfolio. I am investing 2000 Rs every month with him. (This has been done almost year ago when I was not confident of investment which now I feel more confident) Should I stop this SIP as well and start new in MFU ?

    Appreciate your time and answer.


    1. Sandeep-1) If your horizon is 3 years, then simply stay away from equity products.
      2) Yes, you can move. But let existing funds complete 1 year (3 years for debt) to avoid any exit or taxation issue. Older units can be redeemed and invested in one go.
      3) YES.

      1. Thanks for prompt response. My horizon for equity is definitely more than three years…but as I am new to market taken some assistance. I am doing SIP every month…so that means I have to wait one year from now (Last SIP was in Nov 2017).
        Thanks again.

  49. Hello Basavaraj,
    My service provider Geojit says he will carry out all the required KYC for me. I just need to tell him which mutual fund i want to purchase. In this case can I purchase only direct funds?

  50. Dear Basavaraj,

    I am 30yrs old and targeted to invest 50k as SIP in Mutual Funds since 2015 end. I admire your publications very much as it bring quite good knowledge and great path of guidance for investors. I had planned to continue this SIP for 20yrs timeline. But without much knowledge started all of these in regular funds and your article is enlightening for people like me to make switch over soonest possible. But how? Currently I made all those SIP in Sharekhan portal and from your reviews I am thinking to switch them to MFU or Kuvera and convert them into DIRECT mutual funds option. Shall I stop next month SIP in Sharekhan and begin atleast now in Kuvera/MFU?
    Shall I sell those units in Sharekhan and using that bulk amount purchase in this new portal with DIRECT option?
    or shall I keep them as it is in Sharekhan and make a fresh start with same amount in Kuvera/MFU?
    Kindly guide me through this process.

    1. kareem-“shall I stop next month SIP in Sharekhan and begin atleast now in Kuvera/MFU?”-YES if you feel you can handle the portfolio on your own and sharekhan not adding any value to your investment.

      “Shall I sell those units in Sharekhan and using that bulk amount purchase in this new portal with DIRECT option?”-Yes based on the applicable exit loads and taxation into consideration.

      1. Appreciate your quick revert on my query bro. Mostly I’m able to track and manage portfolio but I believe Kuvera/Invezta also would be adding better value add in giving suggestions that would be better than getting nothing from sharekhan. your comments on this please, so that I shall stop SIP there on instant basis and initiate SIP in this new portal.

        1. Kareem-When you opt for direct, then don’t expect that ABC or XYZ will handhold you. Learn on your own and be the driver of your investment bus. Others may add value (depends on to what extent), but the long-lasting solution is to be DIY.

  51. Hi Sir,
    I holds multiple SIP’s and investments in MF. Is there any common platform from where I can keep monitoring these mutual funds. Please suggest.

  52. Dear Sir,

    I am new investor in MF. I invested in SBI Blue Chip fund dir. mode Rs. 3000/- SIP. But I have not received original Doc. like Policy Doc. But monthly received Email statement only from my Mail via CAMES. How can I know that this is regional or duplicate ?
    How can I redeem my fund/ or what doc. required for redeemption ?
    Mutual fund can ford to people like cheat fund ?
    How much money reced. after 10 years?

    1. Akter-You will not get POLICY BOND but an account statement. If you can’t rely on CAMS, then knock directly to respective Mutual Funds Companies for account statement. Regarding redemption process, contact your mutual fund company. Without knowing the reasons behind your investment and what prompted you to select this fund, how can I say blindly?

  53. Abhishek Srivastava

    Sir !!

    I am really confused between MF Utility and CAMS . I am venturing into investing in Mutual fund . Reccently i completed KYC .
    Please suggest which one to chose in your opinion. Please highlight the pros and cons of CAMS and MFU .
    Thank u.

      1. Abhishek Srivastava

        Sir !!

        Can u just brief what are the things required to be in MFU before i start transacting .
        My goal is to invest 3-4 mutual funds in SIP online . There are so many forms in the MFU website .

  54. I have been using invezta.
    Its flawless and has a good customer care service and tonnes of feature.
    They constantly have been bringing more features .
    So if any one is intersted do try it out its free till 50K.

    Wanted to share my opinion so it could be helpful to others.

  55. Hi Basu,

    Thanks for this Article. Very Helpful. Currently I am investing through my HDFC net banking so if I need to shift I should sell all my units and buy again? Or can I transfer them? Any insight will be very helpful

    1. Subramani-I am not sure whether you are investing in regular funds or direct funds. Investing using internet banking may be possible for both regular and direct. Hence, first you check how you are investing (in my view through HDFC Bank in regular funds).

  56. Dear Basu Sir

    My father super senior citizen age 78 years has received amount 5lac for the land acquisition for Highway road done by government. (Tax deducted amount is @10%)

    I want to know should we invest this amount in balance mutual fund or buy bluechip stocks. What will be tax implications on this ???

    Or do we have any other investment options for super senior citizen.

    Suraj N

      1. He is looking for 12-15% returns for 3-5 years investment locking options.

        Or should I just open his demat account and invest in bluechip stocks like maruti, MRF, CEAT, OR Pharma stocks?


  57. Hello Sir,
    I have been researching about ways to invest money for some time now, I was searching for ideas online and the best route I found or at least think so is investing in MF. Honestly, I have no knowledge about mutual funds, whatever I understood or trying to understand is only through browsing online. It’s only today I came across your posts and found very informative. Although I’m not completely familiar with the terms used, I still want to invest in mutual funds. Now coming to the question, I’m 34 and I have 20 lakhs in my savings account. I want to invest this money in lump sum in mutual funds for 5 to 10 years. I don’t want to touch the principal amount, is there any MIP you can suggest? I don’t mind some risk.

    Thank You

      1. I thought that will be the best option for a monthly return apart from the usual bank FD’s, isn’t it? If not, then guide me.

        1. Praveen-In what way it is BEST? The more you explore the more you complicate your life and the probability of committing more mistakes. If you are looking for fixed monthly return, then MIPs are not for you.

          1. Sir, I’ve just started learning about mutual funds, I honestly don’t know which is best for me. I was searching for ideas on the internet and learnt that there are some MIP’s that can give a monthly return, but as I said I’m not sure how they work. Now coming to my requirement, I’m just looking for a better option other than the bank FD’s. It’s ok for me if I get returns quarterly/half-yearly, if not monthly. So, I was looking for answers on quora and that’s how I came across your posts.

              1. Sir, I do understand that there’s risk involved in this kind of investment and I’m ready to take that risk. Kindly guide me in choosing the right plan for me, which plan would you suggest for a lump sum investment?

                1. Praveen-Ready to take RISK-How much? Whether you are investing Rs.1 or Rs.1 Cr, if you have a long term view (5+ years) and did proper asset allocation, then you can go ahead with the product I recommended.

                  1. Sir, what is the product you recommended? Which mutual fund do you recommend for a lump sum investment for about 5 to 10 years?

  58. Navendu Vivrekar

    Dear Sir,
    Thanks a lot for sharing such useful information. Should we consider these ‘Direct Mutual Fund Platforms’ as Fee-only Financial Adviser or they are Fee-based. Kindly enlighten on this.
    Thanks Much,

  59. MF Utility is not of much use due to following reasons:
    (1) They do not give use ID / Login ID for doing transactions after generating eCAN, if you have existing portfolio through ICICI Direct. In spite of multiple reminders, they will not do it. This is my personal experience.
    (2) Overall User interface is difficult for doing transactions.
    (3) Though you can reach them over phone, their email interactions are poor.

    I would recommend users to look for other alternatives like CAMS and MF web sites. Those are much better, and good for long term use.

  60. Dear Basu,

    Please confirm can we buy ETF like mutual fund with demat account?

    As when i try to buy any ETF the liquidity comes as a hurdle and i m not able to buy it like mutual fund.

    As the same ETF being offered by same AMC. So can we able to buy it offline.

  61. Hi Basavaraj,

    I am investing in Mutual funds through SIP from last 2 years. my time horizon is 15 years. My portfolio is below.

    I have invested directly in all mentioned plans . (Direct-Growth )

    Reliance Long Term Equity (Tax Saving ) -3000
    Axis Long Term Equity (Tax Saving ) – 2000
    ICICI Prudential Balanced Fund – 2500
    ICICI Prudential Banking & Financial Services Fund -2500
    Mirae Asset Emerging Bluechip Fund – 1000

    Please suggest if above plans are ok or suggest in case any changes required.

  62. Hi,
    Its a good article. In order to overcome limited AMCs listed in a single platform, do you think its a good idea to use CAMS, Karvy and unovest simultaneously?
    Could you mention your thoughts on Arthyantra for advisory

      1. Thanks for your quick reply. So far I have managed to get CAN from MFU. Not sure what to do next. Their customer service is not good. I haven’t heard or read about kuvera. Can you give more information about kuvera? How experienced and reliable they are? How many AMC are listed with them?

  63. Hi,
    Recently I gave nism exam and I’m about to get my ARN. Now is it beneficial for me to invest by my arn or still I shall prefer to go with direct mode ?

  64. Hi Basavaraja, one quick query please. My agent is advising me to invest in debt arbitrage funds like Aditya Birla sunlife enhanced arbitrage fund. What is your take on it. My requirement from my investment is a low risk , just above FD returns like 9%.Total amount to be invested will be close to 0.5Cr. please advise me on this recommendation by my agent.

    1. Pratik-9% return expectation from arbitrage is wrong. I can expect around 6% to 7% tax-free return (if holding period is more than a year). Also, without knowing the time horizon it is hard for me to say anything.

  65. Here is a fact about mutual funds(others may know but i get to know after I invested my money)
    1.)The starting date of Regular plan and Direct Plan may not be same date.
    2.)Performance of Regular plan and direct plan may be very different so please check out both types of plans before investing.
    I have invested in L& t India large cap fund (direct plan growth option). Before investing I have studied about this fund but that was regular plan (started in 2007 and past five year return approx 26% annual) while investing i choose Direct Plan of mutual fund.
    Later I found that the Direct plan started in 2013 and its 3 years annualised return is just 11.9 as compared to 26%.
    So do study carefully before investing.

    1. Maninder-You are comparing the returns of regular funds from 2007 to the direct funds returns of 2013??? Do remember one thing that fund portfolio, style, fund manager and theme are one and SAME except the middlemen cost. So never jump with wrong comparison. If you want to compare both fund performance, then compare both funds IRR or XIRR from 2013 to till date and then we discuss.

      1. i did the mistake I just see the performance and portfolio of regular plan and goes to L&t mutual fund website and invested in direct plan without knowing that they both have different inception dates( so their be definitely difference of performance). Till this due to lack of knowledge i assumed that regular and direct plan have same inception dates.
        Sir please clear one point- the performance shown by regular plans are after deduction of their all middlemen cost or they deduct this after showing their performance results.

        1. Maninder-The NAV updated is less of cost. Hence, the return is after deducting the cost. What mistake you feel you did? If the regular fund’s historical performance is best, then you can expect the same from both regular and direct. Only difference in case of direct is that of exclusion of expenses of middlemen. Rest everything remains same.

  66. There is another app named “JAMA” which also offers investing into direct mutual funds. It’s available on the playstore only as o now and has subscription plans ranging from being free to about a few thousand bucks.

      1. Hi,

        Any particular reason for this reply regarding Jama?
        Have communicated with them and found them to be responsive.

        Part 2
        If you are planning more detailed analysis, please rank based on number of fund houses served by these platforms. Like FT is missing in Kuvera. Mirae and Canara Rebecco in MFU.

        1. Prasad-It is a matter of time that they make it available of all AMCs. Also, they strive to provide all AMCs soon. Because at the end they too have to run their business. Hence, my concentration is more on charges.

  67. What is the meaning of respective AMC portals
    For e.g. I have trading account in HDFC.
    So I can buy HDFC mutual fund direct scheme through this Demat account ? By choosing the direct option right ?
    Also can SIP be started for direct MF ?

    1. Sachin-HDFC, SBI, Kotak or ICICI Trading and Demat account provider is different than HDFC, SBI, Kotak or ICICI Mutual Fund Companies. Also, to invest in mutual funds, you no need to have demat account.The entity which provides you demat account and trading account act like middlemen. Hence, they do not offer you DIRECT funds. Here respective AMC portals mean respective mutual fund companies portal. Do remember that HDFC broking is different than HDFC Mutual Fund or HDFC Bank.

  68. Best advise go direct investment in stock coping the portfolio of scheme we like. You will save IFA cost, TER, you will save liquidity cost. Presume your amc is giving 12% return then your return will be 15% +

  69. Hi Basavaraj,
    One small correction. You mention that all AMCs are covered by MFU. However, it’s not true. To my knowledge, at least, Mirae asset is not yet covered by MFU.

  70. Although MFU has largest number of AMC’s supported but still not all. For eg: CanRobeco and Mirae are not available on MFU

  71. Hi Basavaraj,

    I started using MFU but found that it wasn’t very user friendly. I was unable to track portfolio for each funds and couldn’t understand CAGR.

    So, I have switched back to FundsIndia. I find that FundsIndia interface (although not direct) is most user friendly for tracking.

    Could you suggest any direct platforms of similar nature?


  72. `However, the biggest drawback of zerodha is that you have to hold the units in demat account. This is the biggest hurdle of managing fee of demat account`

    Can you please explain more about this? How it will be a problem? I see that zerodha charges 300/year for demat.

    Thank you.

    1. Thanks for the reply Basavaraj.
      I have trading account in ICICI direct and Zerodha . I used to trade and invest in ICICI. But because of their huge brokerage charges, I trade in Zerodha now. I am planning to move my all investments, stocks & MF to Zerodha.

      Is my decision right? Please advise.

      1. Dear Sir,

        Is it good to invest through ET Money app ?
        If they sell Direct mutual funds at free of cost what would be their income for rendering the service…?

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