I have some quarries regarding SIP investments - 1) I have started investing in SIP through finance firm in Mumbai (Samarth EduFin Services Pvt Ltd). I have send all required documents and SIP is expected to start from Nov 17, 2) My investments are:- Long Term - a) Aditya Birla Sun Life Equity Fund - Rs 4000, b) ICICI Prudential Value Discovery Fund - Rs 3000, c) Reliance Tax Saver Fund - Rs 3000, Short Term - d) L&T India Prudence Fund - Rs 2500, e) ICICI Prudential Savings Fund - Rs 2500, 3) My queries are:- a) How can I check authenticity of firm? b) Will the firm receive any percentage of my SIP profit? c) How can I check the SIP progress? d) Are the Investments done in above SIP worth it? e) What is advisable, investment in SIP through finance firm or UTI/ ET money apps?
Nov 6, 2017 by Sumit, Solapur | Mutual Fund
Unless we do not know this we cannot really comment. However, please note that if your cheque is debited from your bank account your bank will send you a SMS provided the mobile number given in mutual fund SIP application and your bank account is same.
Also, if you have not given any cheque and only given the auto debit form, even then the mutual fund company (AMC) will send you a SMS and email saying that the SIP has been registered. You will also get SMS alerts prior to your SIP debit date every month.
I think you should talk to the mutual fund distributor and know the status of your mutual fund SIP applications.
However, you can try checking the status of your application for CAMS service mutual funds (in your case L&T, ICICI Prudential and Aditya Birla Sun Life Mutual Fund) from this link http://www.camsonline.com/InvestorServices/COL_ISTransEnquiry.aspx
You have mentioned your investment in L&T India Prudence Fund as a short term investment. This is wrong as it is a balanced fund and you must have a 5 years investment view while investing in balanced funds.
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