Let’s assume I have like 5 SIPs going on with different AMCs all started on Coin and one day I want to move out of Coin for some weird reason, What will be the procedure like? Will I have to redeem all the mutual funds and reinvest? Or is there any other way? Because in that case, I will have to book the profits and then there will be the tax implications of doing the same.
Coin provides an interface to access MFs. After you move out of Coin, you can still access and transact your mutual fund folios through the AMC’s website or web portal of fund registrar e.g. CAMS, Karvy.
I think they won’t keep it that easy.
Since they are in demat form u can move to another demat account using cdsl
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Yes, this seems plausible. Thanks!
Hi, @nithin & @Karthik, can we have a solid answer here? I am just making sure that platform is flexible enough. I have already made the investments, but it will give a lot of peace of mind if I have this info.
All the direct mutual funds are in your demat account, you can move this out to any demat account at will. Takes one DIS slip, that’s it.
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Cool. Thanks a lot for the answer. It’s not that I will need to do this someday but good to know it is not a closed system.