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Mutual Funds

Mutual Funds work on a very simple concept. The key word is Mutual, which means 'beneficial to several' or 'possessed in common'. Thus, like you, thousands, or even lacs of other investors park their money with a Mutual Fund. All of this cumulates to a huge investible amount which Mutual Fund managers can then deploy into the markets. Thus, a mutual fund can best be defined as a professionally managed scheme involving the cumulative investment of different, unconnected investors.

Simply put, Mutual Fund managers invest directly in equity and other markets on your behalf, and that of every other investor in the fund. There are several types of Mutual Funds. They may be sector-specific, (focused on a specific sector, say IT or Banks) and hence primarily invest in stocks belonging to the sector in question.

Mutual Funds may also be index-specific, which means the corpus is invested in stocks that make up the index (eg. Sensex, Nifty, etc) in their exact index proportion. Such funds would move in tandem with the index.

Mutual Funds need not invest entirely in stocks. The fund's investment may partially be in such other asset classes as company deposits, government bonds, etc. Accordingly, funds are sometimes defined as Equity Funds (invested primarily in stocks) or Debt Funds (primarily in deposits, bonds etc).

Funds may also be differentiated as Open-ended or Close-ended. Units of Open-ended Funds may be purchased or sold by investors directly through the fund. Units of Close-ended Funds, on the other hand, are issued at the launch of the scheme, after which they can only be traded between shareholders in the secondary market, just like shares. Open-ended funds are tradable only at the NAV at the end of the day, while Close-ended funds may be redeemed at varying prices throughout the trading day, just like any stock.

The performance of a Mutual Fund is reflected in its NAV (Net Asset Value). As the fund performs better, the NAV goes up; when it does badly, the NAV falls. To strip Mutual Fund investing to its bare basics, the idea is to sell at an NAV which is higher than that at which you bought.

However, one must also factor in any fund management expenses. Some funds do charge an entry or exit load, which is a commission percentage akin to a brokerage. If a fund performs well, it may also distribute a small percentage of the profits amongst all unit holders. Alternatively, you may have the option of ploughing this dividend back into the strategy and thus get an increased number of units.

Again, all said and done, as a thumb rule, if you want to invest in the stock markets, but are apprehensive because you're overwhelmed by it, Mutual Funds are the best compromise. You are indirectly invested in the market, and yet the big decisions are all taken by the experts.

Remember, if you want to make your money grow faster, you cannot stay in such passive investments as banks and company deposits. You must start testing the waters of equity. Mutual Funds offer a happy balance of relative safety and returns.

With your Destimoney Online Trading account, you can purchase and redeem mutual fund schemes of all major fund houses online without the typical paperwork-based hassles.

Destimoney Online Mutual Fund Portal

Destimoney Online Mutual Fund is India's Premier mutual fund online portal. It provides a unified platform for informed investors to purchase mutual fund units online without any hassles or entry load. Destimoney Online Mutual Fund is powered by a state-of-the-art MF engine.

Benefits

  • Hassle-free
  • One-stop shop for mutual funds
  • Lowest possible cost
  • Ease of transaction
  • Unified view of MF investments
  • Tracking of mutual fund portfolio made easy

Key Features

  • Convenience to do mutual fund transactions online
  • Zero paper work after opening the account
  • Simple Interface
  • No account opening charges
  • No entry load/variable costs
  • Funds can be transferred online from any of AXIS, ICICI or HDFC bank
  • Availability of a wide range of mutual fund schemes
  • Option to invest in a lump sum manner or through an SIP (Systematic Investment Plan)
  • One-stop shop for mutual funds
  • Lowest possible cost
  • Ease of transaction
  • Unified view of MF investments
  • Tracking of mutual fund portfolio made easy

What is Destimoney Online Mutual Fund?

Destimoney Online Mutual Fund is India's Premier Zero Entry Load online mutual fund account. It provides a unified platform for informed investors to purchase mutual fund units online without any hassles or entry load.

What are the advantages of Destimoney Online Mutual Funds?

  • Hassle-free
  • One-stop shop for mutual funds
  • Lowest possible cost
  • Ease of transaction
  • Unified view of MF investments
  • Tracking of mutual fund portfolio made easy

What are the key features of Destimoney Online Mutual Funds

  • Convenience to do mutual fund transactions online
  • Zero paper work after opening the account
  • Simple Interface
  • No account opening charges
  • No entry load/variable costs
  • Funds can be transferred online from any of AXIS, ICICI or HDFC bank
  • Availability of a wide range of mutual fund schemes
  • Option to invest in a lump sum manner or through a SIP (Systematic Investment Plan)

What are the subscription charges?

Account Opening Charges: Nil

Variable Fee: Nil

Destimony Online mutual-funds platform is available to you entirely free of cost.

Who is eligible to open a Destimoney Online Mutual Fund account?

Resident Individuals, NRIs*, Corporates

*NRIs from countries which prohibit / restrict securities investments outside that country like USA, Australia, Britain, Canada etc. are not eligible. NRIs shall remit funds from abroad only through approved banking channels or drawn from permitted NRE / NRO / FCNR account.

How can I open a Destimoney Online Mutual Fund account?

Just click on online registration and enter your details. Our sales representative would approach you with the application form to open the account.

What are the documents required for opening a Destimoney Online Mutual Fund account?

  • KYC Acknowledgement copy (If CDSL KYC Compliant)
  • PAN Card copy
  • Copy of bank pass book/bank statement/cancelled cheque leaf
  • Proof of Address
  • Ration card copy
  • Copy of Voter ID card
  • Telephone bill copy (not less than 2 months old)
  • Electricity bill copy (not less than 2 months old)
  • Passport copy
  • Driving License
  • Latest month bank statement or bank passbook
AMC Name Key Information
Memorandum
Scheme Information
Documents
Scheme Additional
Information
Visit Amc Website For Latest
Updates
AIG Global Investment Group Mutual Fundswww.aiginvestments.co.in
Axis Mutual Fundwww.axismf.com
BNP Paribas Mutual Fundwww.bnpparibasmf.in
Canara Rebeco Mutual Fundwww.canararobeco.com
DSP Black Rock Mutual Fundwww.dspblackrock.com
Deutsche Mutual Fundwww.dws-india.com
Franklin Templeton Mutual Fundwww.franklintempletonindia.com
HDFC Mutual Fundwww.hdfcfund.com
HSBC Mutual Fundwww.assetmanagement.hsbc.com/in
ICICI Predential Mutual Fundwww.icicipruamc.com
IDFC Mutual Fundwww.idfcmf.com
ING Mutual Fundwww.ingim.co.in
JM Financial Mutual Fundwww.jmfinancialmf.com
Kotak Mahindra Mutual Fundwww.kotakmutual.com
Mirae Asset Mutual Fundwww.miraeassetmf.co.in
Principal Mutual Fundwww.principalindia.com
Reliance Mutual Fundwww.reliancemutual.com
Religare Mutual Fundwww.religaremf.com
SBI Mutual Fundwww.sbimf.com
Sundaram Mutual Fundwww.sundarammutual.com
TATA Mutual Fundwww.tatamutualfund.com
UTI Mutual Fundwww.utimf.com

As per SEBI circular: SEBI/IMD/CIR No. 4/ 168230/09, following are the details of the comparative commission earned by Destimoney Securities Private Limited from various fund-houses, whose products are being distributed:

Fund Schemes Upfront Brokerage/Upfront Commission Trail Year
Equity And Balanced 0% to 2.25% 0% to 0.50%
Index 0% to 0.75% 0% to 0.50%
ELSS 0% to 2.25% 0% to 0.50%
Asset Allocation 0% to 1.00% 0% to 0.25%
Arbitrage Funds 0% to 0.25% 0% to 0.50%
Monthly Income Plans 0% to 1.00% 0% to 0.65%
Gilt 0% to 0.20% 0% to 0.90%
Income 0% to 1.50% 0% to 0.45%
Short Term 0% to 0.40% 0% to 0.50%
Liquid And Floating Rate 0% to 0.10% 0% to 0.75%

Destimoney Securities Private Limited could also get reimbursements towards promotion and marketing-related activities conducted by Destimoney Securities Private Limited on behalf of AMCs. These reimbursements are event-based, and the same may or may not be received from AMCs in a particular period. Further, since such activities may be carried out at AMC level, the reimbursement amount received cannot be attributed to any specific scheme being offered by such AMCs.

The details of scheme-level commission on Mutual funds are available with the Relationship Managers and would be produced on demand.