Difference Between Coin & Mutual Funds Purchased Through ICICI

[ShubhS9]

@Dhiwakar_Ravikumar

Does it make sense to invest in the same mutual fund , say Axis Focused 25 Fund through ICICI and Zerodha ? I have invested around INR X through Coin and INR Y through ICICI in this same mutual fund because I felt having two different brokers is less risky. Am I right about this ?

There’s nothing wrong, but why not have all investments in one place? I guess ICICI has Regular Mutual Fund plans, on Coin you have Direct Mutual Fund plans without any commission which also helps your returns in long run. You can read this post to know more Regular vs Direct Plan in MFs - #3 by nithin

@Dhiwakar_Ravikumar

The mutual fund purchased through ICICI has a folio number associated with it whereas the mutual funds I purchased through Coin by Zerodha don’t. Why is there this difference and are there any benefits or drawbacks to not having a folio number (as is the case with Zerodha)

Your Mutual Fund investments too has a Folio number associated with it, you can see this in the Coin portfolio by clicking on the fund you have invested in.