How To Transfer Money From One Mutual Fund To Another
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Habitation / Coin / Personal-finance / Common fund units can neither be transferred from i holder to another, nor gifted to another person
Mutual fund units tin can neither be transferred from 1 holder to some other, nor gifted to another person
Premium Units of a common fund cannot be transferred from 1 holder to another, nor can they exist gifted by one person to some other
If my wife buys a mutual fund from her savings (revenue enhancement is paid on those savings) and so she transfers it to me immediately; will in that location be any taxation implications on this as the mutual funds are existence given to husband, which is existence shown as gift past married woman to husband?
—Tejas Shah
The answer to this question is exceedingly elementary: the scenario that y'all are describing is simply not possible. Units of a common fund cannot be transferred from ane holder to another, nor can they be gifted by i person to some other. Mutual funds are also non allowed to accept 'third-party' payments—pregnant, you cannot use money from your wife'due south bank account to make investments in your proper name.
If you want the units to be in your name, your wife would need to start transfer the cash to your business relationship (or a banking company account where you are a joint holder), and then you can utilize that corporeality to invest in the fund in your own proper noun.
The only situation in which the units from a mutual fund page can be transmitted from i holder to another holder (and a different folio) is upon the demise of the holder of the source folio.
I am 61 years erstwhile and want to start investing in common funds. Though I take a disciplined financial life, my computer literacy is not enough for me to track funds online. What is the fastest offline way of tracking my investments? Please tell me all the options that are bachelor.
—Raman Awasthi
When information technology comes to online and offline investing, there are unlike means to get about it, depending on your level of condolement. One tin invest and track online, or invest offline and track offline (using either financial news portals or on-need email statements), or invest and track offline. Among these, the first 1 is more efficient, only if you are not comfy with investing or tracking online, you are not without options.
To do effective tracking using offline mechanisms, please ensure that you use a same, correct accost in all your common fund folios. If you are investing on a monthly basis (using SIP, for case), then the mutual fund company will transport you a transaction statement containing, among other things, the electric current number of units in the folio.
You can maintain a collection of these statements and keep a ledger of these transactions to track them by yourself. More importantly, the depository services providers will also transport you a comprehensive, consolidated account statement in one case every half dozen months, which volition particular all your holdings and transactions for the by 6 months. Betwixt the transaction statements and the consolidated statement, you will accept a very proficient runway of how your money is doing.
I am currently investing Rs5,000 per calendar month in 5 funds each. Large-cap—BSL Frontline Equity Fund and Franklin India Bluechip Fund; Multi-cap/flexi-cap—L&T Disinterestedness Fund and I-Pru Value Discovery Fund; and Franklin India Prima Fund. Should I go on SIPs in these funds? Also, I am looking to beginning iii new SIPs of Rs5,000 each, for long term horizon of eight-10 years. Please suggest three good funds to invest in (including mid-cap and small-cap funds) for my new investments, keeping in view my existing ongoing SIPs also.
—Prerna Gupta
You are soon investing 40% in two large-cap funds, xl% in two multi-cap funds and 20% in a mid-cap fund. Virtually of the funds you are investing in are pretty good funds as well. However, I would suggest a couple of minor changes—one to your resource allotment and, consequently, the other to your fund choices. In such portfolios, information technology is typically skillful to have more than than one mid-cap fund to bring in a diversity of fund management styles to the portfolio. However, I would non desire you to increase your mid-cap allocation to 40% in the portfolio since that would bring in too much risk. So, I would recommend that y'all change your multi-cap allocation to thirty% and reduce information technology to ane fund. You can move the remaining x% to the mid-cap segment, increasing it to a total of 30%, and separate information technology evenly (15% each) betwixt two funds. Consistent to this, you would as well need to revisit your fund choices. I would recommend that yous retain the ICICI Prudential fund in the multi-cap segment. Yous can move out of the 50&T Equity fund (a diversified fund) and into L&T India Value fund—a highly rated mid-cap fund. At the end of this shuffle, yous'll exist investing ₹ 5,000 each in two large-cap funds, ₹ 7,500 in a multi-cap fund, and ₹ iii,250 each in two mid-cap funds (Fifty&T India Value fund and Franklin India Prima fund).
As far as the new money goes, you do not need fresh schemes to invest it in. Yous can spread out the ₹ 5,000 in these 5 funds in the same proportion—past adding ₹ ,000 each to the large-cap funds, ₹ ,500 to the multi-cap fund, and ₹ 2,250 each to the mid-cap funds.
Srikanth Meenakshi is co-founder and COO, FundsIndia.com.
Queries and views at mintmoney@livemint.com
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