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Should I approach SEBI as AMC has given wrong bank details in SOA

I had submitted an application with MF AMC to purchase SIP, received account statement and found that it had seeded my bank particulars wrongly. Emailed to them for correction as per my original application. But they advised me to submit Cancelled cheque or photocopy of Bank Pass Book along with prescribed form. My query is that when the AMC did not seeded my particulars as per my original and error or fault lies with them why it is showing reluctance to correct it and putting me in unnecessary harassment. Kindly let me know the way out. Should I approach SEBI or can I file a complaint in the consumer court. The AMC might be harassing lakhs of customers on these grounds. Why the customer suffers on their faux pas and adamancy?

Apr 9, 2017 by Vinay Vashisht, Chandigarh  |   Mutual Fund
Sometime these errors happen as the application entries are done manually. This is a normal practice to ask for cancelled cheque in case there is a need to make changes/ corrections in the bank details... Read More
How is my current financial situation

My Name is Ravi G, 44 years old. I am working in PSU, married. My wife is house wife, and two children daughter (8), son (6) and my parents dependent on me. We have 2 BHK flat in which we are staying in, small house of three rooms in my native in Andhra Pradesh my parents are staying in. I have 45 lakhs worth term insurance from SBI and LIC, 10 lakhs worth Jeevan Anand and children policy. We have 6.72 lakhs Home Loan outstanding (insured), 1.8 lakhs car loan. My salary is 1.20 lakhs per month. Till now I am only investing in 20k/month in EPF (both statutory and optional). Medical covered in our company hospital for our family till I retire. Sir, my query is do I need to to invest further, and I want to invest 6,000 per month for long time. Please suggest me where to invest?

Apr 9, 2017 by Ravi G, Bangalore  |   Financial Planning
Your long query should be answered in details but that is not possible as you have not provided all the items in details. However, we have following observations to make in order to rearrange your current... Read More
Should I replace funds in my current mutual fund portfolio

Following are my monthly SIPs: Rs 10000 SBI Blue Chip, SBI Magnum Global Rs 14000, SBI Emerging Rs 3000, SBI Pharma Rs 3000, HDFC Top 200 Rs 5000, HDFC Equity Fund Rs 5000, Reliance Growth Fund Rs 8000, Jeevan Saral 7000, ICICI Prudential Value Discovery Fund Rs 10,000 DSPBR Micro Cap Fund Rs 10000, DSPBR Rs 5000, Birla Sun Life Top 100 Fund Rs 5000, Birla Sun Life Frontline Equity fund Lump Sum, Birla Treasury Optimizer. Lump sum last one year my returns are not very good in SBI Magnum, SBI Pharma, SBI Emerging Fund. Should I exit from these fund and do a lumsump investment also do I need to add or delete something in my portfolio?

Apr 9, 2017 by Nitin Bajpai, Mumbai  |   Mutual Fund
We feel that you are investing in too many funds through SIPs. Please note that even though we do not know your investment objective or horizon, generally speaking, SIP investments in diversified equity funds... Read More
How to create a corpus of 15 Lakhs in next 4 years

I want to have savings of 10-15 lakhs in next 4 years. Could you please advise how much I should invest in mutual fund every month to achieve this figure and in which cap I should invest. Thank you. Awaiting for a response?

Apr 9, 2017 by Amit Bose, Coimbatore  |   Mutual Fund
Before you invest in mutual funds you should know your risk profile and accordingly choose an appropriate category of fund for you investments. However, since your investment horizon is only 4 years, we... Read More
In which SIP to save for marriage of my three daughters

I want to invest in SIP for corpus accumulation for the marriage of my 3 daughters over a period of 15 years. Currently I can invest Rs 1000 for each of the three. I am a low to medium risk taker. Can you suggest some SIPs? Should I invest in the same SIP for all three or diffrent SIPs?

Apr 9, 2017 by Housewife, Delhi  |   Mutual Fund
Very heartening to note that you want to save for your daughters marriage through SIPs. Congratulations !! You can invest in one fund for all three or even select 3 different funds for your three daughters, choice... Read More
Should I continue with my current SIP funds

I have started SIP recently in lots of Funds. Not able to decide which one to stop. 1) ELSS - ICICI Prudential Long Term Advantage Rs 5000, Reliance Tax Saver Fund Rs 1000, 2) MultiCap - PPFAS, ICICI Prudential Rs 1000 each, 3) MIDCAP - Mirae Asset Emerging BlueChip Rs 2000, Sundaram Mid Cap Rs 1000, 4) Balanced Fund ICICI Prudential Balanced Fund, and HDFC Rs 1000 Each, 5) Large Cap - SBI BlueChip Rs 1000. My Investment horizon is 5+ years. Main purpose is to accumulate money. Can you please suggest me which one should I stop and in which to increase amount for one my stop?

Apr 9, 2017 by Avi, Delhi  |   Mutual Fund
You have invested in too many funds across various categories - ELSS, Balanced, large cap, mid & small cap and diversified / multi-cap. However, you have not mentioned the fund names clearly. For example... Read More
Can you suggest best fund for emergency corpus

My First Aim is to keep aside an emergency fund of Rs 3 Lakhs minimum and finally increasing it to 5 Lakhs. Currently I have around 2 Lakhs in Equity and 1.7 Lakhs in Debt Funds. Is Balanced Fund a good option for keeping emergency Corpus or it should be Debt/Liquid only? Can you please suggest best fund for keeping Emergency fund?

Apr 9, 2017 by Avdhesh, Netherlands  |   Mutual Fund
Balanced funds are not at all a good option for keeping or creating an emergency corpus. Balanced funds are ideally suited for investors with moderate risk profile having investment horizon of 4-5+ years... Read More
Should I sell my flat at indexed value

I wish to sell my house which is in my name to my sibling but on the cost which is as per the index value of today and not at a higher value. I purchased this flat in year 2004 in Gurgaon and have been staying there since then the cost that time was around 11 Lakhs and as per the index value of today it is around 28 Lakhs plus the other cost of improvement, if added. Can the same be sold as per the index value of today and would be there be any tax liability of mine in this case. Also to confirm on the registry of the property that will happen as per the circle rate?

Apr 9, 2017 by Preeti, Gurgaon  |   Financial Planning
At what price the flat should be sold is totally on your discretion. Normally, the right price of the property can be discovered by the ongoing rate in that area and the negotiation between the buyer and the seller... Read More
What is the best time to invest lump sum in equity mutual funds

What is the best time to invest a lump-sum amount in equity mutual fund scheme in terms of a) NAV of scheme, b) Sensex, c) PE ratio?

Apr 9, 2017 by Rakesh Kumar, Delhi  |   Mutual Fund
It is very difficult to say what is the best time to invest lump sum in equity mutual funds - based on NAV of the scheme, Sensex levels or PE Ratio as mentioned by you? We think more than the NAV or Sensex... Read More
Should In invest in SBI Magnum Balanced Fund

I would like to invest Rs. 10.00 lakhs in SBI Magnum Balanced Fund. Requested your suggestion?

Apr 8, 2017 by Srinivas, Hyderabad  |   Mutual Fund
While selecting a mutual fund, the common trend is to look at the trailing returns of the fund... Read More
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