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Category: Personal Finance

ICICIDirect – Mutual Fund SIPs – Feature Required

ICICIDirect – Mutual Fund SIPs – Feature Required

One feature I would love to see in ICICIDirect’s implementation of MF SIPs is the ability to query the list of existing SIPs in different ways. This screen shot shows what exists now: This page is a just a list of active SIPs. While it does provide the basic functionality of working with Mutual Fund SIPs there are some important features missing: Sorting: The ability to sort the table by Scheme Name. This is particularly useful for people like me…

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ICICIDirect – Mutual Fund SIPs – Improvements & New Features

ICICIDirect – Mutual Fund SIPs – Improvements & New Features

I have used ICICIDirect for a long time and have watched with interest and appreciation their continuous efforts to innovate and improve the end user experience. Their platform was the first to offer many new features like SIPs in Mutual Funds. They did stumble with the implementation of various features. For example when they introduced SIPs in MFs in the mid 2000s they treated the individual SIP purchases as fresh purchases and this attracted the usual Entry Load. This was…

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How new PF norms will hurt take-home pay

How new PF norms will hurt take-home pay

Increased contribution to Provident Fund to reduce take-home pay of Employees The Employee Provident Fund Office (EPFO), which is under the Ministry of Labour and Employment, has issued a circular on November 30th 2012, which deals with the components of salary to be included while calculating PF contribution. While the circular is mainly aimed at employers who “split-up” basic salary of employees to reduce their contribution, this move will also reduce the take-home pay of a salaried individual. The Background:…

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CAMS Web Site Woes

CAMS Web Site Woes

I tried accessing the CAMS web site (http://www.camsonline.com/) today on my BlackBerry and got a rude surprise. Their web site is not at all mobile friendly! Even Opera Mini failed me today on this web site. Don’t get me wrong – I am a big CAMS fan and regularly use their excellent mailback services to keep track of my offline mutual fund investments. They added Karvey as a data source some time ago and blew me away. I was very…

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ICICI Prudential Mutual Fund – Online Services & Customer Support

ICICI Prudential Mutual Fund – Online Services & Customer Support

Update: This is a personal web site and NOT the web site of ICICI Prudential Mutual Fund. I was pleasantly surprised today with my experience with the ICICI Prudential Mutual Fund web site, the PruTracker. I have multiple portfolios with ICICI as I used different vehicles to purchase their funds over the years. I had lost track of one folio and found it again in a CAMS report. This particular folio was not available in my PruTracker login. Today I…

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Mutual Fund NAVs – Ignore Them!

Mutual Fund NAVs – Ignore Them!

Mutual Fund NAVs are often confused by new as well as old investors. Mutual Fund Agent to Client: “The New Fund Offer (NFO) is priced at Rs. 10/-. It is Cheap! Buy! Buy! Buy!” Mutual Fund Investor: “Is it advisable to buy mutual funds with a high NAV?” “Mutual Fund ABC has a high NAV of around Rs 423. Is it a better option? How much more can this go up?” “What is the maximum value to which a NAV…

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More ICICIDirect Stupidities – Purchasing a Mutual Fund, Growth Option

More ICICIDirect Stupidities – Purchasing a Mutual Fund, Growth Option

I have had a long running love-hate relationship with ICICIDirect for half a decade now. More hate than love. Their platform is closely integrated with the ICICI Bank online banking platform and that makes things very convenient. Of course I haven’t looked at what others like Share Khan & Reliance Money are doing now in 2009 but back in 2004 they were not offering Mutual Funds and one had to write a cheque etc. So I am still with ICICIDirect….

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ICICIDirect Trying To Trick Retail Mutual Fund Investors, Again!

ICICIDirect Trying To Trick Retail Mutual Fund Investors, Again!

ICICIDirect is know for it’s shady practices. They are at it again with the SEBI ruling on Mutual Fund Entry Loads which comes in to effect today (August 1, 2009). I will show you how they are out to confuse people and how their entire approach is crafted to benefit the rich customers at the expense of the average Raju. I am customer of ICICIDirect. Yes, I know. Pathetic. I signed up in late 2004 and since I was primarily…

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Warren Buffett at the Annual Shareholder’s Meeting – May, 2009

Warren Buffett at the Annual Shareholder’s Meeting – May, 2009

It is said that in economics, there are no free lunches. And where better to apply that aphorism than the recent spending spree of the US government. Warren Buffett too has made numerous grim warnings that efforts such as the Treasury’s US$ 700 bn Troubled Asset Relief Program and the US$ 787 bn fiscal stimulus plan passed this year by Congress (US) will have to be paid for, one way or another. And with political leaders in the US showing…

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What’s Up With Sandip Sabharwal?

What’s Up With Sandip Sabharwal?

Sandip Sabhawarl, a IIT Delhi graduate, won kudos with his management of SBI’s Mutual Funds, particularly the Magnum Contra and similar funds. Then came the Ketan Parekh and Padmini Technologies stock purchase from Triumph International. Sandip left SBI under a cloud and joined JM Financial Asset Management. The Mutual Fund industry and press reacted with caution. The CBI Charge Sheet against Sandip loomed heavy. Yet there was expectation that he would work the same magic for JM that he did…

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