Hi All,
I am starting new topic for all the new starter's of MF. Please ask your qustions/queries on MF Investment, terms and Typs etc.. Will try to answer with best of my knowledge.
Regards
Matrix
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Hi All,
I am starting new topic for all the new starter's of MF. Please ask your qustions/queries on MF Investment, terms and Typs etc.. Will try to answer with best of my knowledge.
Regards
Matrix
What is the meaning of lockin period in MF?
I have query -
1- What is Gold ETF?
2- How to Trade in GOLD ETF?
In all tax saving (elss) funds, there is a lock in period of three years i.e u have to remain invested for at least 3 yrs from the date of investment.You cannot withdraw your money from a Tax Savings Funds for 3 years.Quote:
Originally Posted by nishant
For eg. If you have invested your first installments (through SIP) in An ELSS fund on 1st January' 2008, then its lock in period will end on 1st Jan' 2011 and the second one if invested on 1st February' 08 then its lock in period will end on 1st Feb' 2011.
Gold - Exchange Traded Funds are Gold ETF. They are like MF.Quote:
Originally Posted by Mukulz
Just like MF.
What is KYC? Why it is required? Is it there for every customer?
KYC - W.E.F. February 1, 2008, Investors in Mutual Funds investing Rs. 50,000/- and above are required to comply with Know Your Client (KYC) norms under the Prevention of Money Laundering Act 2002 (PMLA). More Info - wikipedia.orgQuote:
Originally Posted by gvkc
What is difference between dividend and growth in mutual fund? Which one is best for SIP? Please reply.
Income generated from profit of the mutual fund will be given to the unit holders in form of dividends in dividend funds and the income from the fund will be reinvested back into growth fund. So the net effect is that the dividend funds NAV keep decreasing when the MF make dividend payout, but in growth, NAV will keep on growing. So If you want regular income go for dividend and if you want capital gains go for growth funds.Quote:
Originally Posted by Ice
Do NRIs need to open some different account to invest in MF in demat form? (like investing through ICICI Direct.)
Yes you need to open NRI trading account. Please visit the website of the broker, you wanted to open the account.Quote:
Originally Posted by ABCD
Please suggest which policy is better..Dividend or growth?
You are asking about - MF or Policy?Quote:
Originally Posted by pawankumar
i am precisely asking about MF.but if you have some good suggestions in Policies please share.Thanks!
This is been already discussed here -Quote:
Originally Posted by pawankumar
http://policywala.com/showthread.php...light=Dividend
How to exit or stop an SIP?
Exit/Stop of SIP - You can cancel your SIP anytime you want. You have to intimate your bank to stop the ECS/PDC's and a letter should be given to the AMC for stopping the SIP. Please note, that the intimation to bank and the AMC should be done prior to 21 bank working days. Another thing is, if you stop the SIP before six months, there will be a deduction from the AMC's side along with STT. The deduction rate varies from AMC to AMC.Quote:
Originally Posted by Rahul
Do we need to submit KYC documents every year?
I have two ICICI Direct Demat account - one in my name and another in my wife's name.
I have submitted KYC proof three times in three year, so no idea if it's every year or not. But if you have two accounts then both the owners need to submit the KYC documents.Quote:
Originally Posted by Hemant
Thanks Krypton!
But my first query is still pending - Do we need to submit KYC documents every year?
What if I have already completed the earlier KYC (MIN) procedure with CVL ?Quote:
Originally Posted by Hemant
Scenario 1
If the KYC (MIN) was completed by submitting the PAN, the Acknowledgement obtained at that time can be enclosed along with the Investment Application Form(s) / Transaction Slip(s) while investing for the first time in every folio as the PAN number will be stated on the said acknowledgement. You need not repeat the process now.
Scenario 2
If the KYC (MIN) was completed without submitting the PAN but with other proof of identity documents, for such cases, CVL will send out a communication to the respective investors requesting them to submit self attested copy of PAN card for KYC compliance.
a venture program financed by shareholders that exchanges expanded property and is professionally overseen.
Please suggest which policy is better..Dividend or growth?
Please suggest which policy is better..Dividend or growth?
Know Your Customer (KYC) refers to the process of verifying the identity of your customers, either before or during the time that they start doing business with you.