All my mutual fund holdings are directly with AMC except one in Coin. I want to transfer my Coin holding directly to AMC. Is it possible?
this is correct form form for it? How to Re-materialize mutual funds?
Yep, this is correct.
On a side note, any specific reason for you to do this? Just curious. I transferred all my MF holdings from AMCs (used to invest directly with AMCs) to Coin. It makes a lot of sense to keep all of your investments under one roof. You have easy access. I’d understand if the charges were more but Coin is free as far as I know. Btw, I’d suggest you to move your MFs from the AMCs to Coin. They also introduced online nomination now, which holds good for MFs as well.
Don’t get me wrong, I am not advertising Zerodha here.
@Himansh people who do not use active trading account may not find it useful because you have to pay AMC charge to zerodha whilst keeping just 1 MF.
Redeem from AMC and re-invest same amount of money in Coin. It’s hassle free.
I guess thats not the solution he is looking for. He is asking about “transferring” process. @NikhilPatel , I guess that won’t be possible without redeeming and buying back again. These platforms are easier only for “entry”, the moment it comes to “exit”; things are not so straightforward.
My bad. He has to do it other way. Redeem from Coin and invest with AMC.
(If one does not want paper work and delay. )
I only have one mutual fund holding so it’s easier to move it from demat, I don’t see any extra feature demat offers that I need to use.
I only hold mutual funds, I understand if I have stocks then it will be better to move all to demat.
@Kishore443 @Sant I can’t buy and sell like that because of tax I have to pay and exit charges. I want to transfer and I think it should be possible by this form
How did you transfer? Could you please let me know the process?
The similar thing I would like to do and landed on this page. My case is quite complicated because SBI small cap doesn’t allow lumsum investment so I can’t withdraw and start fresh investment with AMC. Even lumsum option is available then taxation and other factors affects the strategy of withdrawal and fresh start. So my workaround is start SWP in coin and start fresh SIP with AMC. Here important point is your new SIP and SWP date should be same to match the NAV (withdrawal unit and allotted unit should be same). Generally SWP takes time to deposit money to your bank account so in this case you need to use upfront money for SIP.
If someone not doing trading and don’t need margin then I don’t think so it’s beneficial to keep mutual fund investment in coin. Instead there are other benefits to keep investments with AMC like loan against mutual fund, track the investment with third party app like grow or kuvera. Also you can take control of your investments directly through AMC.