Why not all mutual funda have direct version?

Zerodha Coin - Direct MF
1

I see many funds that don’t have direct version available, like Sbi Blue Chip Fund, Sbi Magnum Mid Cap Fund, Franklin India High Growth Companies Fund to name a few.

Are there plans to have their direct version soon or they will remain non-direct?

Also, for moving to direct coin says to close current investments in non-direct and re-invest in direct. I am pretty sure, closing current investment to re-invest would involve regular exit fees on current investment but still if someone can confirm that would be great.

2

  1. We are working on onboarding the direct plan schemes of other major AMCs on COIN. All schemes of HDFC and SBI should be available in a few days on the platform. Franklin, Sundaram & BNP Paribas AMCs are in the final stages of developing their system for transactions of direct plan orders with BSE STAR MF (which is our backend order routing platform) so it might take some more time for these schemes to reflect on COIN but should happen before the end of this month ’

  2. If you wish to switch to a direct plan of the same scheme, then there would be an exit load applicable and tax implications too which is as good as redeeming your existing regular plan investments and investing the amount in a direct plan. So, instead of waiting for the switch, the easier way would be to redeem the units.

3

Hi,

Still there is only one scheme available from SBI. Please let know when other schemes are expected to be available. As If it is going to take longer, I would subscribe to non direct plan.

Thanks.

4

Still today Frankil mutual funds are not there. Also I found some schemes like Mirae Asset Emerging Bluechip Fund is missing in the list. I havent verified all schemes yet but would like to continue with my old schemes in coin as well. I want to switch from my old fund house to zerodha coin . When will these schemes will be available in coin?