I have created a new account recently on this platform and would like to use this platform to consolidate all my direct Mutual Funds onto this platform which are also in dematerialized form… they’re online investments with the Mutual Funds themselves.
If you have purchased the direct plans of mutual fund units from the respective AMCs then mostly it would be in non-demat form because to purchase it directly from the AMC website in demat form you would have to mention your demat account number that you would hold with a particular DP or broker. So, please check again if the units are in demat form.
In case the units are in demat form, then you can transfer the units from the other DP to your Zerodha demat account by mentioning your Zerodha DP ID number in the Delivery Instruction Slip (DIS) provided by the other broker or DP and submit the same to them. Also, mention the details of the schemes which you would like to transfer.
Currently, the transferred units will reflect in your demat account but will not reflect on COIN. Our team is working on integrating the data and this feature shall be available shortly.
@faisr I’m also in the same situation as OP. I have purchased direct mutual funds from the AMC websites and they’re all in physical form not in dematerialized form. From your reply, we understood the procedure to transfer it to coin if it is already in demat form. But what is the procedure to transfer it to Coin if it is currently in physical form?
Also, any update on the feature for integrating data about already bought units transferred into zerodha demat and that would show up in Coin which you mentioned above?
Coin seems really interesting and good way to consolidate my direct MF investment transactions all in one place. At the moment, it seems suited for new investors. But it would be great if you folks also provide an easy way for existing MF investors to migrate into Coin platform from their existing platforms(like those who have bought directly from AMCs, mycams etc.). Thanks.
We are coming out with a new version of Q which will also feature a discrepant quantity option for mutual funds as well just like the one for stocks. Since you would have the data with respect to your previous investments so it will be easier for you to update the same in your Q which would then reflect in COIN.