What you must know about eKYC in mutual funds

What you must know about eKYC in mutual funds

The Securities Exchange Board of India (SEBI) has been consistently trying to ease the process of investing in capital markets, including mutual funds. Using digitisation, it has been striving to increase the penetration of mutual funds by simplifying the … Continue reading at financialexpress.com

3 Reasons Mutual Funds Are Better Than Hedge Funds

In fact, while most hedge fund managers and investors are actively trying to outguess the market, I'd go as boring and passive as possible and buy low-cost index funds and invest for the long term. I've written here before comparing these fund types in … Continue reading at investorplace.com

How Index Funds Prevailed

Follow him on Twitter at @smihm. Forty years ago last week, Vanguard's John Bogle created the first index mutual fund, offering investors a guarantee: They would never outperform the market, but nor would they underperform it. The Index Investment Trust … Continue reading at bloomberg.com

Mutual Funds Investing

Mutual fund managers find summer rewards in emerging markets

The summer of 2016 may have ended as one of the quietest and least volatile for US markets in memory, but there has been money to be made nonetheless. Just ask the fund managers who specialise in emerging markets or precious metals. In the 14 weeks between … Continue reading at ft.com

Emerging markets gives money to mutual fund managers

Mutual fund managers specializing in precious metals or emerging markets have enjoyed substantial gains during the summer of 2016. The more savvy among them have returned an excess of 20 percent during the 14 weeks period from Memorial Day to Labor Day. Continue reading at financialbuzz.com

>Mutual Funds for Beginners: How to Invest in Mutual Funds for Safe Investing and Great Profits
Many people are looking for a way to make their money grow. Investing is a great method of leveraging your money out to do all the…

The Neatest Little Guide to Mutual Fund Investing
Written in an accessible and entertaining style, a financial guide teaches investors how to do their own research and investing …

Mutual Fund Investing for Beginners: How to invest in mutual funds and create personal wealth (Passive Income for Beginners Book 1)
Investing in mutual funds is one of the easiest ways to start investing. It was designed to allow non-professional investors to ge…

Mutual Funds Investing

Angel Oak's UCITS Mortgage Credit Fund Crosses 0 Million in Assets

Over the past five years, the firm's U.S. mutual fund has grown to over $ 4 billion USD in AUM. "The fast growth of the UCITS fund over a short period of time and in a difficult market environment is a strong indication of European investors' interest … Continue reading at businesswire.com

When Target-Fund Fees Are Off-Target

But many investors may be paying higher fees on these funds than they need to. The funds are pitched as automated retirement-planning assets. They are mutual funds made up of other funds--stock, bond and money-market funds--and adjust the balance … Continue reading at wsj.com

Looking for Large-Cap Growth Mutual Funds? 3 Best Choices

Large-cap growth mutual funds provide excellent opportunities to investors, who choose long-term capital appreciation over dividend payouts and are simultaneously interested in steady returns. Funds having significant exposure to growth securities are … Continue reading at nasdaq.com

U.S. regulators allow BlackRock funds to lend to one another

Mutual funds and money market funds offered by the world’s largest asset manager will be able to borrow up to 10 percent of their assets through BlackRock’s “InterFund Program” without putting up assets as collateral or up to a third of their assets in total. Continue reading at reuters.com

* Most important steps and things to know for NRIs wanting to buy mutual funds in India. URL:https://youtu.be/iIyKG-EKOqE
Subscribe: https://www.youtube.com/channel/UCQTqvgT_qzPZn1D1bHsxtKw?sub_confirmation=1

Find out if you can invest

Check whether your country of residence will permit your investment. Further, check whether the fund houses sell their funds to NRIs in your country of residence.

Explore if your representative can invest for you

It might be difficult for you to complete investment related formalities, such as buying units, switching, redemption and, so on. Find out if your his India-based representative could do all this with the help of a registered Power of Attorney (PoA).

Get the KYC done

Know Your Customer (KYC) procedure for you and your representative i.e. the Power of Attorney holder, needs to be done. Complete the procedure by submitting the KYC application form. Remember, you need to be there in person for the verification of the KYC application.

Select a bank account

Depending on whether you want to send the money back to your country of residence, you can choose between an NRE or NRO bank account

Submit FIRC

You and your representative will need to submit FIRC (Foreign Inward Remittance Certificate) or confirmation letter issued by the bank confirming the source of the funds. Alternatively, provide a photocopy of rupee draft or banker's cheque, if sought. Check whether the fund house allows direct debit for purchase of mutual fund units by NRIs and if there are restrictions for online transactions.

Check for double taxation agreements

Find out about the tax treatment of your mutual fund investment earnings in India in your country of residence. A double taxation avoidance agreement (DTAA) between two countries will help you avoid getting taxed twice. Help the client in getting relevant tax-related information.

We hope you found this useful. For more, download our mobile app, visit our website www.fundoomoney.com and subscribe to our YouTube channel and digital magazine FundooMoney NRI, available on leading digital news stands. Also, follow us on Instagram, Pinterest and Slideshare.

Mutual Funds Investing

Click here for more information about 'What you must know about eKYC in mutual funds'.