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This is in addition to three other ways in which you can invest in MFs through direct plans—1) a fund house’s website, 2) my Cams (the online investment portal of Computer Age Management Services or Cams), and 3) Mutual Funds Utility (MFU) portal, sponsored by the Association of Mutual Funds of India (Amfi).
But this was not known when the author sent his application.
Starting an SIP at Invezta was quicker by a few days than Oro Wealth, since account opening and SIP registration was done at the same time. The main website ( has no mention of the online facility.
At the end of every quarter, it measures the performance of the schemes that it recommends to you.
If they underperform the category average over the past 1-year period, it reimburses you that quarter’s fee. “Direct plans are cost-saving, but if you have an advisory outside to whom you pay fees, you can invest in direct plans and save on the cost here.
At Oro Wealth, at the time of initial registration, one can only start with lump sum investments. For that, one has to go to this, too, is not publicly known.
When the author called up MFU’s toll-free number, he was asked to send an email request.The difference between expense ratios of the two types of plans is as low as 10-50 basis points in some schemes and as high as 100-148 basis points in some others. Before we come to that, let’s take a look at what the online platforms have to offer and whether they’re worth it. The two robo advisors, Oro Wealth and Invezta, will offer advisory service and a do-it-yourself (DIY) product.One basis point is one-hundredth of a percentage point. Invezta offers 16 fund houses at present, but this will increase over time.Once you send an email, the platform’s link is emailed back where you can open an account.Since an account had already been opened with Oro Wealth, there was no need to fill MFU’s lengthy account opening form.If you live outside Mumbai and wish to open an account, it will do the in-person verification over Skype (Internet), if you haven’t completed your know-your-client (KYC) norms.“We have tied up with a parcel service that will pick up your physical documents,” said Vijay Krishna Kuppa, co-founder, Oro Wealth.“You won’t get the cash; instead, we will give a credit of another quarter of advisory,” said Sharad Singh, co-founder and chief executive officer, Valuefy Solutions. On the face of it, direct plans make sense because they are cheaper. Or, you can use a robo advisor and invest in direct plans,” said Singh.The reality is that direct plans aren’t meant for everyone.To pacify them, MFU has kept the link hidden and only gives it to those who specifically ask,” said a distributor who did not wish to be named. MFU online investing facility is like that.” What does it cost?MFU officials were unavailable for comment but an industry executive close to the utility said: “When you walk into a bank branch, do you get Internet facility by default? Since MFU is a transaction platform (more of an order routing mechanism than a platform as such) that is sponsored by the MF industry, it’s bound to offer both direct and regular plans.