X
xarterx
TF Buzz
- Jan 9, 2024
- #1
Hello everyone,
I am mostly using Mutual funds for my long term investments.
Currently i have 20L in my investment corpus with the below portfolio:
UTI Index
Parag Parikh Flexi Cap
ICICI Bluechip
So the return on investment has been very good from past 2 years. Now my parents are asking me to invest their SIPs into a similar fund.
My question is that the platform Coin is good enough? i mean can we trust it, we are also HDFC Imperia, ICICI Privilege customers.
Someone recommended me Zerodha so since then i haven't changed my mutual fund platform but is it safe to invest more amount? What if company shuts down someday.
Thank you in advance.
Yugi
TF Premier
VIP Lounge
- Jan 9, 2024
- #2
It is absolutely safe, they hold your MF units in demat, that means you are in full control of it. Even if Zerodha goes bankrupt, your MF units are still safe in your demat account.
When you generally buy mutual funds online through some distributor, they generate a folio number for you and then give you the units in non-demat form. So, here the folio number is the unique identifier for your investments and you are able to track your investments on the basis of the folio number. The folio number is generated by the AMC as soon as you make a new purchase in that scheme. Also, whenever you make the purchase this way then the AMC sends you statement for the particular transaction.
Now, Zerodha is providing you the feature of holding the units in demat form which is a more secure way of holding your units. When the AMC receives a request for a purchase order in a particular scheme then they still create a folio number but now they credit the units into your demat account. So, you have a folio number for your transaction as well as a Demat account number (16 digit number) as identifiers for your transactions. But, if the units are in demat mode then the AMC gives more relevance to your demat account number as a unique identifier.
Now, the AMC says that they cannot send you a statement for transaction done in demat mode and you will have to check the same with your Depository Participant. In this case, you demat account statement is a valid proof of investment as the fund details and units reflect in the same.
When you are investing through COIN, a folio number is also generated and you can view the same in your portfolio window after the units have been allotted.
- But, if you wish to redeem in such a scenario then you can rematerialize the units and provide the folio number as shown on COIN for the particular fund.
- If you have bought a fund from elsewhere, you will be provided a folio number. But, if you have invested in the same fund through COIN then a new folio will be generated. But, whenever you make additional investments in the same scheme through COIN, the units will reflect in the same folio number.
Also, as a business Zerodha is providing the clients to invest in equity, ETFs, bonds also in demat form. Thus, with the AMC of charge of Rs 300, you are able to hold all these securities as well in your demat account.
sjmajumder
TF Ace
- Jan 9, 2024
- #3
xarterx said:
Hello everyone,
I am mostly using Mutual funds for my long term investments.
Currently i have 20L in my investment corpus with the below portfolio:
UTI Index
Parag Parikh Flexi Cap
ICICI BluechipSo the return on investment has been very good from past 2 years. Now my parents are asking me to invest their SIPs into a similar fund.
My question is that the platform Coin is good enough? i mean can we trust it, we are also HDFC Imperia, ICICI Privilege customers.
Someone recommended me Zerodha so since then i haven't changed my mutual fund platform but is it safe to invest more amount? What if company shuts down someday.
Thank you in advance.
It is absolutely safe. The units stay in your demat account with CDSL. When you sell units, the amount will be directly credited to the primary bank account linked with your demat account.
D
Deleted member 9785
TF Legend
VIP Lounge
- Jan 10, 2024
- #4
do this for safety
How to revoke the Power Of Attorney (POA) and Demat Debit and Pledge Instruction (DDPI) mapped to Zerodha?
How to revoke the Power Of Attorney (POA) and Demat Debit and Pledge Instruction (DDPI) mapped to Zerodha?
support.zerodha.com
D
Deleted member 11974
TF Prestige
VIP Lounge
Verified User
- Jan 10, 2024
- #5
xarterx said:
Hello everyone,
I am mostly using Mutual funds for my long term investments.
Currently i have 20L in my investment corpus with the below portfolio:
UTI Index
Parag Parikh Flexi Cap
ICICI BluechipSo the return on investment has been very good from past 2 years. Now my parents are asking me to invest their SIPs into a similar fund.
My question is that the platform Coin is good enough? i mean can we trust it, we are also HDFC Imperia, ICICI Privilege customers.
Someone recommended me Zerodha so since then i haven't changed my mutual fund platform but is it safe to invest more amount? What if company shuts down someday.
Thank you in advance.
if you are that skeptical why dont you directly invest via the fundhouse?
champaklal
TF Buzz
- Jan 10, 2024
- #6
CD. said:
do this for safety
How to revoke the Power Of Attorney (POA) and Demat Debit and Pledge Instruction (DDPI) mapped to Zerodha?
How to revoke the Power Of Attorney (POA) and Demat Debit and Pledge Instruction (DDPI) mapped to Zerodha?
support.zerodha.com
Hi, can you tell more about this?
S
sousnake
TF Legend
VIP Lounge
- Jan 10, 2024
- #7
xarterx said:
Hello everyone,
I am mostly using Mutual funds for my long term investments.
Currently i have 20L in my investment corpus with the below portfolio:
UTI Index
Parag Parikh Flexi Cap
ICICI BluechipSo the return on investment has been very good from past 2 years. Now my parents are asking me to invest their SIPs into a similar fund.
My question is that the platform Coin is good enough? i mean can we trust it, we are also HDFC Imperia, ICICI Privilege customers.
Someone recommended me Zerodha so since then i haven't changed my mutual fund platform but is it safe to invest more amount? What if company shuts down someday.
Thank you in advance.
I am using Zerodha for stocks from last 3 years, no issues faced so far. Used coin before as well for placing SGB orders but now they can be done via kite app itself. I personally use ETMoney for Mutual funds but I am 100% confident in zerodha & not trust issues as such with them.
D
Deleted member 11974
TF Prestige
VIP Lounge
Verified User
- Jan 10, 2024
- #8
champaklal said:
Hi, can you tell more about this?
by doing so everytime you want to sell your shares or mf units you will have to verify it with the the depository cdsl in this case
champaklal
TF Buzz
- Jan 10, 2024
- #9
sxchzy said:
by doing so everytime you want to sell your shares or mf units you will have to verify it with the the depository cdsl in this case
But anyways we have to enter a PIN right?
So doing this will add another layer over it?
D
Deleted member 11974
TF Prestige
VIP Lounge
Verified User
- Jan 10, 2024
- #10
champaklal said:
But anyways we have to enter a PIN right?
So doing this will add another layer over it?
Yes tpin and otp based verification wound be mandatory everytime with the depository
S
simplegarv
TF Premier
VIP Lounge
- Jan 10, 2024
- #11
xarterx said:
Hello everyone,
I am mostly using Mutual funds for my long term investments.
Currently i have 20L in my investment corpus with the below portfolio:
UTI Index
Parag Parikh Flexi Cap
ICICI BluechipSo the return on investment has been very good from past 2 years. Now my parents are asking me to invest their SIPs into a similar fund.
My question is that the platform Coin is good enough? i mean can we trust it, we are also HDFC Imperia, ICICI Privilege customers.
Someone recommended me Zerodha so since then i haven't changed my mutual fund platform but is it safe to invest more amount? What if company shuts down someday.
Thank you in advance.
I am also using Zerodha for my Investments, and I find it totally legit.
arun4455
TF Premier
VIP Lounge
- Jan 10, 2024
- #12
xarterx said:
Hello everyone,
I am mostly using Mutual funds for my long term investments.
Currently i have 20L in my investment corpus with the below portfolio:
UTI Index
Parag Parikh Flexi Cap
ICICI BluechipSo the return on investment has been very good from past 2 years. Now my parents are asking me to invest their SIPs into a similar fund.
My question is that the platform Coin is good enough? i mean can we trust it, we are also HDFC Imperia, ICICI Privilege customers.
Someone recommended me Zerodha so since then i haven't changed my mutual fund platform but is it safe to invest more amount? What if company shuts down someday.
Thank you in advance.
when you invest in non ETF funds, then the unit allotted are kept by 2 RTAs – Kfintech and CAMs depending on the AMC. Even if zerodha gets bankcrupt, these units can be redeemed by you through AMC directly. Even as per SEBI, now redemption can be processed only in the account of unit holder, not through the broker.
COSMOCRAT
TF Premier
- Jan 10, 2024
- #13
champaklal said:
But anyways we have to enter a PIN right?
So doing this will add another layer over it?
POA was a big security flaw of the old times. Now it comes disabled/such option is unavailable by default.
You will need TPIN everytime to sell.
arun4455
TF Premier
VIP Lounge
- Jan 10, 2024
- #14
COSMOCRAT said:
POA was a big security flaw of the old times. Now it comes disabled/such option is unavailable by default.
You will need TPIN everytime to sell.
Yes, a big time. One broker has sold the shares of its clients without their consent.
pothi
TF Ace
RML Group
Verified User
- Jan 10, 2024
- #15
arun4455 said:
Yes, a big time. One broker has sold the shares of its clients without their consent.
Search for Karvy scam if anyone is interested in knowing more on what happened in the past by abusing POA.
H
happy_prince_153
TF Buzz
- Jan 26, 2024
- #16
It's absolutely safe and would save a ton by investing in direct mutual funds.
telescope
TF Legend
VIP Lounge
- Jan 27, 2024
- #17
It's very safe. Mutual fund units stay in demat and regulated by SEBI.
D
Deleted member 9785
TF Legend
VIP Lounge
- Jan 27, 2024
- #18
search zeroda + chess game
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