I have contacted Etrade and they transferred my inquiry to the Dubai branch which replied that since I am not a US citizen nor resident, I will not be able to invest in IPOs or Mutual Funds? Can someone confirm or provide a way to be able to invest in those two methods?
You cannot invest in IPOs because no one will offer them to you. Your citizenship has nothing to do with it. IPOs are offered to favored customers by their brokers. Most small investors have no chance to buy them.
You don't need a broker to buy mutual funds. Simply contact the fund, request a prospectus, study it and decide how much you want to invest. Send the money directly to the fund and they will sell you shares in the fund. You should limit yourself to no-load funds. Others may refer you to one of their sales representatives, who will receive a commission out of the money you invest.
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How long do they take to get latest NAV, for investment in mutual funds? (immediatly, one day, or more than one day)
what are their timings during the day to invest , redeem or switch MFs.?
What are their charges, Fees etc?
do they have any monthy, annual, initial startup fees or transactions fees etc?
please don't copy and paste your answer from the net, i will be happy to know about your personal experience in online mutual funds transactions
Hi,
- ICICI Direct and Reliance Money are the best if you want to do more than mutual fund purchase/SIP/SWP/redemption services. You could also use your banker's (ICICI, HDFC, Citibank etc) investment services but may not be as good as the other two in terms of integrated investment services. In HDFC you have the option of investing in funds via their ATMs also. So the basic answer is if you want to do only fund purchases use your current bank's services.
- All investments done prior to 1:30PM on a business day will be taken up the same day (at that day's NAV). Transactions submited after 1:30 will be taken up the next day. The above is applicable to providers like ICICI Direct. But as per SEBI guidelines the cutoff time for orders Non-liquid funds is 3PM and in Liquid funds it is 12PM.
- Most of the equity oriented schemes charge between 2.25% and 2.5% as the entry fees. Some charge even an exit fee of 0.5% if sold within 6 months of purchase. If you are buying debt funds, they don't have any entry/exit loads.
- ICICI Direct (integrated services – not just fund transactions) and Reliance money will charge account opening fees.
My experiences
I have used a number of service providers in the past including icici direct, kotak and some portfolio management services (like allegro etc). From my experience ICICI Direct gives you an overall good experience where you have the option of trading (equities/commodities/derivatives), buying/redeeming/switching mutual funds, investing in Postoffice, GOI bonds etc. Of late a lot of people have moved to Reliance Money mainly for the benefit of lower brokerage charges for equities. But for the mutual funds, both charge the fees as applicable by the AMCs or fund management.
Regards,
Ajith
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I know of tools that calculate asset allocations based on individual stocks and mutual fund types, but don't know of anything that calculates allocation if you have a 2045 mutual fund or asset mix fund.
http://screen.yahoo.com/funds.html
http://finance.yahoo.com/q/hl?s=AAMDX
Yahoo mutual fund screener. The second link is an example once you get to the fund's profile and click on holdings. I believe that is what you're looking for. Good luck.
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As a mortgage consultant in California I come across hundreds of clients that have anywhere from $100,000 to $500,000 of equity built into their home. People are very protective of this equity, as for many it is what they plan on using for retirement. Home owners are bombarded by the threats of the housing market crashing down on them, the bubble bursting, even though the average home owner lived in times of $100,000 houses in California, $50,000 homes in Texas, and so on.
Listen, home values will go up and down as long as people are buying and selling property, but the long term results will always be MORE equity. It amazes me when a home owner complains about the job they are working, the business they want to start but just can’t find any capital, while they are sitting on two to five hundred thousand dollars of equity.”You gotta have money to make money”, it’s true, if I didn’t spend money on marketing, I would have no clients. Now, with mortgage rates still relatively low, is the best time to pull some of that ’static’ equity out for investing. I call it static because it isn’t making any money. I beg you; do not buy the ruby red sports car you’ve been dreaming of. That’s just spending, not investing.
If you’re a beginner to the investment world, this may be the avenue you would choose. I know a company that will guarantee a 12% annual return on all investments with them, they’ve never lost a dime of their clients’ money as long as they’ve been in business. Imagine borrowing $200,000 out of your home at a 6% mortgage rate. Earning 6% every year works out to be a net return of $12,000.00 with no risk whatsoever. How do they offer this kind of return? They know as well as anyone in the real estate industry knows that home values will always be on an upward trend. When you invest in this company, you’re investing in a brand new housing development.
Stocks, bonds, property, mutual funds, you name it. You can turn on profit if you know what you’re doing with any of these investment roads. Just keep in mind you’re spending 6% for the opportunity. It’s not something to sit on. Remember, it’s your equity, take it!
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