Thursday, March 3, 2011

Random Thoughts

KYC :

Three of my friends who wanted to invest in Mutual Funds , found that they cannot invest , because they are not KYC compliant . Since Jan 01 ,2011 , being KYC complaint is mandatory

KYC , is Know Your Customer guidelines for Mutual Funds to know who their customers are and to make sure that no ill gotten money is being invested in MFs

So,even if you have no plans of investing in MFs in near future , Please make sure you get your KYC compliance letter ready , so that you would not have to run around when you really need it .

You would need this letter to make fresh investments in MFs and also to sell/redeem your old investments in MFs

How to get your compliance letter , click here

Online Investing :

Most of the Mutual Funds , now provide an Online option for investing , If you are an existing investor in a mutual fund , all that you would need to do , is to fill their Online Investment authorisation form and post it to them and the MF would mail you back the Online PIN , which can be used to transact Online

So in case you have not yet enabled online transaction for your MF Folio number, go ahead and do that , Investing becomes so much simpler when you can invest online .

Life is about seizing opportunities and you can seize opportunities only if you are prepared

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