Integration of Previous Direct Mutual Funds with COIN

Zerodha Coin - Direct MF
1

Hello Zerodha team,

  1. I have some investments in direct MFs purchased through AMCs directly. Before starting with COIN , i would like to have them transferred to this platform for seamless portfolio management. How do I do this??

  2. If the answer to point 1 is through dematerialisation of those holdings. I would like to know its procedure. Secondly, if they do get transferred, will the redemption happen through COIN or AMCs ?? Thirdly, if it happens through COIN , where will the money reflect?? In zerodha trading account or directly to bank account?

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  1. Yes, you can transfer the units. You can click on this link which explains the same. Currently, you cannot view the transferred units in your Q back office holdings or on COIN. You can only view it by generating your demat holding statement and the procedure for the same is mentioned in this link.

  2. We use BSE STAR MF system for routing all the orders. So, since the transferred units will not reflect on COIN, so you can drop an email to [email protected] or [email protected] to a place a redemption request with the details of the schemes which you would like to redeem. The redemption proceeds will reflect in your trading account and not bank account depending upon the redemption settlement cycle of the schemes.

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So is there no way I can view transferred units from AMC / via demaerialization on the coin platform? Is this feature coming up in future as it would be quite unlikely zerodha not having a do-it-yourself model and ask investors to send orders in an offline way. All brokers like icici /hdfc allow redemption of transferred units online.

Kindly advise.

4

Yes, our team is working on providing this feature to clients wherein they can enter the details manually on Q or COIN for the transferred units.

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5

Any updates ? I think it would be nice if you allow importing the unit details from the mutual fund account statement

6

Hello Faisr,

I too would like to move to Coin provided my existing Direct Mutual Fund Portfolio can be seamlessly migrated to the Coin Platform. All these purchases were made directly thru the concerned AMC at they are all in physical mode.
I have a CAN with MFU but would prefer my holdings in DMAT mode. I dont mind paying your annual fees of Rs 600/- which I find reasonable, but all existing holding must migrate seamlessly to the coin platform as soon as they are converted to Dmat mode. And they must be available for online transactions on the coin platform. Please let me know once your team has enabled this and I will open several accounts of my family members on your platform.

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Hi @faisr your answer is much helpful

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@davsar @Ram_Subramanian

You can do this now. Please read the information provided in this link which will help you resolve your query.