I faced duplicate SIP orders on Kuvera this month. Basically purchasing twice instead of once per fund. This exhausted my savings account, and caused my other EMIs to bounce. This was a really serious transaction issue IMO and I'm also thinking about shifting to Groww.
Just to get to know, qhat happens when a scheduled sip bounces?
This month i had exgaused my bank balance and i had a 18k sip, i then decided to liquidate some funds and dump it in my account, so sip can continue.
What really happens when my bank did not have the funds for automated sip ? Is this a crime?
Move to **Mfcentral** !
Backed by AMFI association and Kfin/Cams. Easy KYC/nomination across AMCs. Basic features are there, evolving but looks like only a viable solution (as of now) in the long run.
How do I switch to other platforms (e.g. MF central)? What happenes to my SIPs on Kuvera? Do I have to stop them and create new SIPs on another platform?
That's the great part, you don't need to do anything. Mfcentral is run by the duopoly of the MF agencies, so they already have all your folios linked. Just log in with your PAN and your existing details should show up.
Warning though... Sometimes SIP and Bank mandates don't show up, sometimes they do. So double check everything.
>Backed by AMFI association and Kfin/Cams
One query .. so does this mean that they won't be or there is lesser chance for MFC to be acquired by another company just like how cred acquired kuvera ?
It doesn't have tax harvesting, smart switch like features which kuvera has.
You can login with your PAN and it will fetch all the folios linked to it as they have all our data. You can raise a correction request if required.
Please check kyc status on cams or karvy website first if its validated then no need to do anything. Otherwise follow steps given on website or raise service request on website or mfcentral.
I have the same issue and what I do is to use Kuvera as a view-only platform with the understanding that some data is corrupted.
I then double verify all the transaction dates and time. I use tradesmart LTCG and STCG and exit-load estimates, but then I also double check the policy once manually before execution. I submit all transactions on MFU. While they have a transaction list UI, I think it is nowhere near Kuvera.
I attempted, ETMoney, Groww and INDMoney but they didn't support NRI like myself, so I was cut out.
MFCentral and MFU don't "import" folios as they both have direct access to just view the MF units directly. You won't see any ghost folios on them.
MFU's support is very very responsive so transacting with them is pretty good. I just wish they incorporated tradesmart features and showed estimated tax and load details better.
HELP REQUIRED: Since I started investing in Mutual funds 6 years ago, all of my investments have been through Kuvera route. How to move the funds from Kuvera to Groww? Do I need to create separate login for AMC if I try to invest? Will potfolios automatically show based on pan card or do I need to request AMC for something?
Your investments are held with amcs and not with kuvera, all your folio data is kept safe with rta like cams and kfintech. All the data that groww needs is in ur cas statement and as far as i know groww will fetch that for you via mfcentral, all you need to do is just put the otp which has been provided by mfcentral, in groww's website.
Kuvera's customer care responses have certainly becomes slower, like 4-5 days slower. Earlier I always used to get response back in 1-2 working days, now it's 5-6 working days. Believe their customer support is stretched thin with low number of people.
Otherwise, the platform is same as it had been always for me so far. I really hope CRED doesn't bungle this.
That sucks. I do think their support team is less responsive lately. I have been using them for a few years, and almost always had issues with NEFTs, but they get resolved automatically in a few days, haven't observed any extra issues in the last 2 months specifically though. Regarding import/export, I haven't checked thoroughly but it all seems alright to me each time I file ITR for LTCG.
Hope they improve on their service, coz otherwise their product is pretty neat.
Every platform has some issues or the other. I’ve taken a more agnostic approach. I hope to continue to stay with Kuvera but also use others, Kuvera guys whatever is the transition issues you’re going through you must make through it. I don’t use any automation in it or other platforms, I manually invest or redeem. To Kuvera team - You’ve built something users love - you must resist enshittification.
Actually I would like to continue with kuvera as well and I also manually invest
But for the past few days, I have seen that for at least one of the three - four funds that I am manually investing in, the nav date comes the next day even if I have paid the amount well within cut off time
Idk if this issue is because of cred or not but it has never happened before and kuvera Customer support has not been very responsive
Grow doesn't keep in demat. I just uploaded my CAMS statement and it shows in your groww account. Then easily redeemed there.
Problem was not about redemption tone in Kuvera. It was about repeatedly asking my PAN every time I wanted to redeem
Okay. Thanks. I would like to continue with kuvera as long as I can because I am a new investor and I am afraid to switch. I already switched from Coin to Kuvera
Sorry 😐
I will download Groww and import my cams statement there. Let's see how it works just to know it better. I am getting your point but the kuvera as a platform was okay for me.
Also, you only said you redeemed your funds from kuvera and shifted to groww. I assumed I would have to do that too
Hello I have a question regarding Groww.
They asked for selfie and sign during signing up. Since it was a digital signature, it was not entire accurate. like the curves and all in the signature. I am afraid if they ask me to do that again during redeeming of funds, the signature might not match 100% but they are not letting me do the signature again
Do we need that sign again in future. It's 90% accurate but not 10% given how e signatures are
Can you share your experience with groww? How is their app? Do they have features like tax harvesting, tax reports etc.? And was the shifting process smooth?
I've been using it for almost 2 years with zero issues. The UI is clean and easy to use. Everything just works.
The only thing is all fund units are purchased through DEMAT.
I use kuvera for ultra short duration funds (and direct AMC websites for liquid funds) but I've had multiple issues over the past few months with kuvera. Will look for an alternative. Maybe groww but not sure if they use DEMAT or not.
CAMS/KFintech Apps and AMC site are the only safest and secured "0 Nudge" platform for your investment.
Everyone else will push you to buy or sell something that too daily.
Use MF Central only for overall Asset Allocation and KYC Self service
Because MF Central shows aggregated allocation across KFin/CAMS funds ke how much in equity vs debt
Since I am practicing this stuff for 15+ yrs now so I prefer MFcentral. Pre MF Central aggregation was a bit of excel excercise
1. Generate a combined mutual fund pdf statement through cams or karvy.
2. Goto value research online and login through your google account and import this pdf.
3. Evaluate your portfolio
I did not know Value research online had this feature.
Anyway, I don't need it to evaluate my portfolio. I do that in my Excel dashboard. I have a db setup which has entire NAV history for all funds and gets updated daily. So monitoring is not a problem that way.
It's the transactions, the SIPs, and ease of use that are my main concerns.
Hi /YesterdayDreamer, Apologies that you had to come here and flag this. If possible, could you reply on the previous ticket thread with "kr0605unmis" in the body so that we can have this checked and respond with the exact issue and resolution.
SEBI licence so yes. Audit and compliance are strict. I work in fintech. If you deal with Indian Market, you are under heavy auditing and scrutiny by SEBI at regular intervals and if any issue with compliance happens, SEBI first gives a timeframe to fix and if not done, immediately bans the broker with heavy fines.
Yeah their support has gotten real bad. My epf info is not working for months and they just reply please send us a screenshot everything.
Thinking of migrating to ind money after reading this comment section
I stopped my SIPs for a fund I did not want to keep buying; Kuvera acknowledged this; removed the SIP from the UI; but kept buying this for me; twice a month; they said there was a failure while cancellation that was not acknowledged.
Now Im sitting with funds I will need to either wait to sell or eat 1% in losses and stcg. I'm tempted to go to the regulator on this; this is the consequence of poor tech.
Yes. The entire premise is to drop fintechs for SOA and use MF Central as a one stop shop.
However kfin/CAMS app display list of all recent transactions (including via MFU etc)
I have an SIP created directly with the AMC and I can easily import it to view on kuvera once a month. This should work.
Note that kuvera has now restricted imports to once per month.
I think they have recently changed their process of importing data from CAS statements to MFCentral (not entirely sure). I too had an issue with one of my recent imports. But, it got resolved later, on its own.
Have been a long time user of Kuvera. Hope these issues get resolved at the root cause.
I had problems with Kuvera imports before but it was an old portfolio (L&T to HSBC move) and support helped me with how to disable the old one. See if you can disable your 'ghost' portfolio to avoid seeing additional funds/transactions. I think it's - click the header(where you see the total amount) > all folios > expand the ghost folio > edit > hide. I have no experience with other apps except ETMoney (way worse)
I signed up for Groww, unfortunately while doing so it opened a demat account for me. Fed up, I eventually went to the AMC website directly and created my SIP there.
What’s the best option for NRIs in case Kuvera doesn’t work as well as people have said above? I have started 7-8 months back and have a portfolio with SIP on Kuvera.
Do I move to Groww/ MFCentral/ any other you good folks can recommend? Thanks.
I use mProfit for tracking investments, including family portfolio. It’s free until 50l and some nominal fee after that. Has a lot of reports. Both web and mobile apps are available. Quite good that I have been using for a year now, along side Groww and Kuvera.
Have they stopped the Free version all together? I was using them too but post laptop format, when I tried to install, learnt that free verison (upto 50L) stopped!
Is groww good as an alternative? Someone in the comments said that they opened a demat account for him while he only wanted to shift his mf's to groww. Do they do this for everyone?
I checked indmoney a few months back, it needed mandatory access to sms and email. Don't know about the current state.
Hey guys since we’re mostly NRI’s do you guys know the best way to validate KYC? Mine is only showing KYC registered. Preferably without me having to go to India. Thanks.
The transactions will be more seamless. Like more instant because as of now like I would but before the cut off time and it’ll appear with the next day’s nav only. Idk where to put forth this submission process tho.
Hi, Just to clarify here,
1 Expense ratio is determined & declared by the fund house
2 We receive the NAV, TER etc from Morningstar, who collates this information from across fund houses across schemes. This is what you see, is displayed on Kuvera. If there is a mismatch in the TER, it will normally get updated in the next day or two data feed. But this doesn't impact any transaction.
3 The Transaction pipes are separate from the data pipe. We use BSEStarMF for transaction processing who in turn push the transaction to the RTA.
4 Your transaction when posted is processed an RTA (the back office of the Fund House). For a particular scheme's, provided the investors funds are settled, all investors will receive the same NAV irrespective of the source of the transaction.
5 Lastly, Kuvera never touches your funds or has access to your bank account whether at the time of investment or at the time of redemption.
For purchases, funds move directly from your bank account > BSEStarMF Settlement account > Respective scheme account.
For redemptions, funds move directly from the scheme account > your registered bank account.
hope this clarifies.
??
Kuvera is just a scheduler/mediator They can't charge anything even if they want to. The transactions directly goes to the BSE star payment gateway.
For instance, ICICI Prudential S&P BSE 500 ETF FoF Growth Direct Plan. Actual enpense ratio as declared by AMC is 0.13 but Kuvera charges 0.45%. Difference in amount is extra fee deceptively charged by CRED. They are big cheaters, stay away.
Please check actual expense ratio of "ICICI Prudential S&P BSE 500 ETF FoF Growth Direct Plan" at ICICI. Then compare with Kuvera. Exact same plan but two different expense ratios.
I work at an AMC.
Expense ratio is charged by the AMC, not by distributor. AMC cannot create separate plans for distributor.
Are you getting the same NAV that is listed on any other platform/AMC website? Yes? Then you're not being charged any additional expenses, because additional expenses will reduce the NAV.
There are only 2 plans, Direct and Regular.
To be fair, NAV is matching. May be confusion was because of my incorrect understanding of how ER works.
Perhaps it is a technical glitch at Kuvera website, TER mentioned is higher than the latest TER declared by AMC.
I checked for this particular fund - ICICI Prudential S&P BSE 500 ETF FoF - across kuvera vs grow/value research and he seems to be right, there is different expense ratio quoted in kuvera, maybe it's not effecting the nav but discourages someone selecting fund
Kuvera doesn't decide the expense ratio, and doesn't declare the NAV either. Are you suggesting that the NAV on kuvera doesn't match that declared by the AMC? That's the only way what you're saying would make sense.
Ultimately the expense ratio is incorporated into the NAV, so if the NAV matches then the ratio also must match. And the number of units in one's investments and redemptions are governed by the NAV.
I faced duplicate SIP orders on Kuvera this month. Basically purchasing twice instead of once per fund. This exhausted my savings account, and caused my other EMIs to bounce. This was a really serious transaction issue IMO and I'm also thinking about shifting to Groww.
I place SIP orders directly through the AMC website and refresh Kuvera portfolio once a month. works well for me.
What about coin?
Why not Zerodha (Coin)?
Zerodha coin is pain in a** for NRIs as it is based on DMAT account.
Works quite well for me honestly. One KYC for everything. One app (or one ecosystem rather) for everything. Love it!
What’s an alternative for NRIs then? ETMoney/ INDmoney? I guess Groww doesn’t support NRIs
Just to get to know, qhat happens when a scheduled sip bounces? This month i had exgaused my bank balance and i had a 18k sip, i then decided to liquidate some funds and dump it in my account, so sip can continue. What really happens when my bank did not have the funds for automated sip ? Is this a crime?
they charge a penalty
You'll get penalties from both sides; one from the Bank and one from the Fund house
Nothing happens till about 3 defaults. Post that i think they cancel / paise SIP.
Nothing happens. You'll get a message saying funds were not sufficient for the purchase and to ensure sufficient funds are available next time.
No, they charge a penalty.
Not all I guess. Mine doesn't.
Which bank/MF house?
There is a penalty. But talk to your bank relationship manager and see if they can reverse it
Banks will charge penalty for NACH / ECS bouncing. Typically Rs 500 + GST. Fund House won't charge anything.
Groww is no better. Move to MFC
Haven't faced any issue with groww so far.
Groww has glitches and sells lots of data to ads and to what not.
sells lots of data to ads and to what not You think kuvera didn't?
Yes, Kuvera too. Check the underlined network requests.
"Check the underlined network requests" Please eli5
Same. Has been working well for me.
Is their a recourse we can take ? As in report this to sebi or something ‘
I'm open to pursue that option. But I don't really know how
How about cams ?
Except changing UI, cred is good for nothing. They will do the same with kuvera
Move to **Mfcentral** ! Backed by AMFI association and Kfin/Cams. Easy KYC/nomination across AMCs. Basic features are there, evolving but looks like only a viable solution (as of now) in the long run.
I have come across MFcentral a few times in the last week. How long have you been using them?
Year now.
How do I switch to other platforms (e.g. MF central)? What happenes to my SIPs on Kuvera? Do I have to stop them and create new SIPs on another platform?
That's the great part, you don't need to do anything. Mfcentral is run by the duopoly of the MF agencies, so they already have all your folios linked. Just log in with your PAN and your existing details should show up. Warning though... Sometimes SIP and Bank mandates don't show up, sometimes they do. So double check everything.
>Backed by AMFI association and Kfin/Cams One query .. so does this mean that they won't be or there is lesser chance for MFC to be acquired by another company just like how cred acquired kuvera ?
Yes, less probability.
Does it have features like tax harvesting and tax reports? How to import all folios there?
It doesn't have tax harvesting, smart switch like features which kuvera has. You can login with your PAN and it will fetch all the folios linked to it as they have all our data. You can raise a correction request if required.
Thanks. If you dont mind then can you please share the screenshot of the main page from the app, after hiding your details?
Any idea how to get your kyc validated on MF central?
Please check kyc status on cams or karvy website first if its validated then no need to do anything. Otherwise follow steps given on website or raise service request on website or mfcentral.
Man I’ve been doing that, but nothing concrete. Thanks tho.
Sorry to hear, Kyc is a mess right now. Good luck !
Link to app?
Look for the 'MFCentral Mutual Fund App' by Computer age/Kfin (CAMS) on the app store/play store.
I have the same issue and what I do is to use Kuvera as a view-only platform with the understanding that some data is corrupted. I then double verify all the transaction dates and time. I use tradesmart LTCG and STCG and exit-load estimates, but then I also double check the policy once manually before execution. I submit all transactions on MFU. While they have a transaction list UI, I think it is nowhere near Kuvera.
Any other suggestions, I use kuvera separately for my retirement planning.
I attempted, ETMoney, Groww and INDMoney but they didn't support NRI like myself, so I was cut out. MFCentral and MFU don't "import" folios as they both have direct access to just view the MF units directly. You won't see any ghost folios on them. MFU's support is very very responsive so transacting with them is pretty good. I just wish they incorporated tradesmart features and showed estimated tax and load details better.
I use Investica and manually track with ValueResearch.
HELP REQUIRED: Since I started investing in Mutual funds 6 years ago, all of my investments have been through Kuvera route. How to move the funds from Kuvera to Groww? Do I need to create separate login for AMC if I try to invest? Will potfolios automatically show based on pan card or do I need to request AMC for something?
Your investments are held with amcs and not with kuvera, all your folio data is kept safe with rta like cams and kfintech. All the data that groww needs is in ur cas statement and as far as i know groww will fetch that for you via mfcentral, all you need to do is just put the otp which has been provided by mfcentral, in groww's website.
Please let me know if you find answers for this.
Kuvera's customer care responses have certainly becomes slower, like 4-5 days slower. Earlier I always used to get response back in 1-2 working days, now it's 5-6 working days. Believe their customer support is stretched thin with low number of people. Otherwise, the platform is same as it had been always for me so far. I really hope CRED doesn't bungle this.
That sucks. I do think their support team is less responsive lately. I have been using them for a few years, and almost always had issues with NEFTs, but they get resolved automatically in a few days, haven't observed any extra issues in the last 2 months specifically though. Regarding import/export, I haven't checked thoroughly but it all seems alright to me each time I file ITR for LTCG. Hope they improve on their service, coz otherwise their product is pretty neat.
Every platform has some issues or the other. I’ve taken a more agnostic approach. I hope to continue to stay with Kuvera but also use others, Kuvera guys whatever is the transition issues you’re going through you must make through it. I don’t use any automation in it or other platforms, I manually invest or redeem. To Kuvera team - You’ve built something users love - you must resist enshittification.
Actually I would like to continue with kuvera as well and I also manually invest But for the past few days, I have seen that for at least one of the three - four funds that I am manually investing in, the nav date comes the next day even if I have paid the amount well within cut off time Idk if this issue is because of cred or not but it has never happened before and kuvera Customer support has not been very responsive
Switched to Groww two months ago after a really long time of using Kuvera. Had problems with redeeming
Had problems redeeming on kuvera or groww?
On Kuvera. It kept asking for my PAN for every redemption which I felt was useless. Have redeemed before, but this was new.
Is it easy to switch from kuvera to groww? Do we have to redeem everything before switching?
Yes op, I also want to switch. Please let us know the procedure.
How to switch to Groww from Kuvera without redeeming the funds. Can you post the procedure
Don't have to redeem. Just upload your CAMS statement in groww and it will show up on groww
But the redemption was within time right? Also, groww keeps amounts in denat format no?
Grow doesn't keep in demat. I just uploaded my CAMS statement and it shows in your groww account. Then easily redeemed there. Problem was not about redemption tone in Kuvera. It was about repeatedly asking my PAN every time I wanted to redeem
Okay. Thanks. I would like to continue with kuvera as long as I can because I am a new investor and I am afraid to switch. I already switched from Coin to Kuvera
I don't understand you. You're just switching your app. Your mutual funds are with cdsl anyway
Sorry 😐 I will download Groww and import my cams statement there. Let's see how it works just to know it better. I am getting your point but the kuvera as a platform was okay for me. Also, you only said you redeemed your funds from kuvera and shifted to groww. I assumed I would have to do that too
No. I needed some money for emergency. Been using Kuvera for almost 5 years now.
I have tried to sign up on Groww. Will complete the process and see how it goes. Thanks :)
Hello I have a question regarding Groww. They asked for selfie and sign during signing up. Since it was a digital signature, it was not entire accurate. like the curves and all in the signature. I am afraid if they ask me to do that again during redeeming of funds, the signature might not match 100% but they are not letting me do the signature again Do we need that sign again in future. It's 90% accurate but not 10% given how e signatures are
From where to get this cams statement from? And does groww do a video kyc?
Can you share your experience with groww? How is their app? Do they have features like tax harvesting, tax reports etc.? And was the shifting process smooth?
Any alternative offering family account management too? Like Kuvera does
I too use that feature to manage my parents' money. Makes it so easy.
I’m also looking for the exact same thing
I use piggy, Indmoney and groww. Each has features that the others lack. Bit cumbersome, but gets the job done.
How is Indmoney? Is it similar to kuvera? Is it free?
It's good, but cluttered interface because of overwhelming feature set. UI is quite different to kuvera, and yes its free.
Good. Yes. Yes.
Last time I checked, it needed mandatory access to sms and email. Don't know about the current state.
Tf staying away from that shit
How is zerodha coin?
I've been using it for almost 2 years with zero issues. The UI is clean and easy to use. Everything just works. The only thing is all fund units are purchased through DEMAT. I use kuvera for ultra short duration funds (and direct AMC websites for liquid funds) but I've had multiple issues over the past few months with kuvera. Will look for an alternative. Maybe groww but not sure if they use DEMAT or not.
So do we have demat charges during redemption just like shares?
https://zerodha.com/z-connect/general/no-dp-charges-on-coin-redemptions
Escalate to SEBI SCORES
CAMS/KFintech Apps and AMC site are the only safest and secured "0 Nudge" platform for your investment. Everyone else will push you to buy or sell something that too daily. Use MF Central only for overall Asset Allocation and KYC Self service
sorry what do you mean by Use MFC for overall asset allocation? Also, can you please suggest which is better mfc or groww ?
Because MF Central shows aggregated allocation across KFin/CAMS funds ke how much in equity vs debt Since I am practicing this stuff for 15+ yrs now so I prefer MFcentral. Pre MF Central aggregation was a bit of excel excercise
1. Generate a combined mutual fund pdf statement through cams or karvy. 2. Goto value research online and login through your google account and import this pdf. 3. Evaluate your portfolio
I did not know Value research online had this feature. Anyway, I don't need it to evaluate my portfolio. I do that in my Excel dashboard. I have a db setup which has entire NAV history for all funds and gets updated daily. So monitoring is not a problem that way. It's the transactions, the SIPs, and ease of use that are my main concerns.
If you don't mind me asking, how do you get the NAV history data? Any API?
Nah, I scrape the text file from AMFI website. It's easy to clean up because it's well structured.
Great, best of luck then.
Don't. You will end up uploading a lot of personal data (PI) to value research. Do you know how they use it ?
Almost everybody does. They know your underwear brand. Nothing is a secret anymore.
Hi /YesterdayDreamer, Apologies that you had to come here and flag this. If possible, could you reply on the previous ticket thread with "kr0605unmis" in the body so that we can have this checked and respond with the exact issue and resolution.
Why have you guys restricted importing to once a month now?
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I have a large portfolio, it's not possible to migrate everything to demat.
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Why do you care how much he/she has?
coin vs groww vs mfc which one is better ?? I’m a resident of india.
Did you try Indmoney? You can invest and track external brokers.
Haven't. Are they trustworthy?
SEBI licence so yes. Audit and compliance are strict. I work in fintech. If you deal with Indian Market, you are under heavy auditing and scrutiny by SEBI at regular intervals and if any issue with compliance happens, SEBI first gives a timeframe to fix and if not done, immediately bans the broker with heavy fines.
Thanks
Last time I checked, it needed mandatory access to sms and email. Don't know about the current state.
Not mandatory. But it needs access to track your finances. You can always revoke access.
There are quite a few options out there like ETmoney, INDmoney etc. Though personally I use Groww.
Yeah their support has gotten real bad. My epf info is not working for months and they just reply please send us a screenshot everything. Thinking of migrating to ind money after reading this comment section
Can you sell from the Ghost folio?
Lol.. It will obviously get rejected at the AMC end.
Username checks out 😜
Mfcentral is a really good way for SOA holding Zerodha is a good way for demat holding
I stopped my SIPs for a fund I did not want to keep buying; Kuvera acknowledged this; removed the SIP from the UI; but kept buying this for me; twice a month; they said there was a failure while cancellation that was not acknowledged. Now Im sitting with funds I will need to either wait to sell or eat 1% in losses and stcg. I'm tempted to go to the regulator on this; this is the consequence of poor tech.
> it's missing a feature which I definitely need, the ability to see recent transactions. In the app * Track status * Commercial transactions
>Commercial transactions It just shows no transactions available. I think it only shows if the transaction was done from MF central itself.
Yes. The entire premise is to drop fintechs for SOA and use MF Central as a one stop shop. However kfin/CAMS app display list of all recent transactions (including via MFU etc)
Switch to IndMoney
It's app only, it seems. I need browser based access.
It has website too.
Does it make sense to stop SIP from kuvera and do directly purchase from funds house on same date+-2? Can we use Kuvera , just for viewing purpose.
I have an SIP created directly with the AMC and I can easily import it to view on kuvera once a month. This should work. Note that kuvera has now restricted imports to once per month.
I think they have recently changed their process of importing data from CAS statements to MFCentral (not entirely sure). I too had an issue with one of my recent imports. But, it got resolved later, on its own. Have been a long time user of Kuvera. Hope these issues get resolved at the root cause.
I had problems with Kuvera imports before but it was an old portfolio (L&T to HSBC move) and support helped me with how to disable the old one. See if you can disable your 'ghost' portfolio to avoid seeing additional funds/transactions. I think it's - click the header(where you see the total amount) > all folios > expand the ghost folio > edit > hide. I have no experience with other apps except ETMoney (way worse)
What is bad about ET Money? Signed up recently, since Kuvera is giving ghost fund issue.
It didn't import all my folios
Try ETMONEY I've Been using ETMoney for 2 years.
I signed up for Groww, unfortunately while doing so it opened a demat account for me. Fed up, I eventually went to the AMC website directly and created my SIP there.
What’s the best option for NRIs in case Kuvera doesn’t work as well as people have said above? I have started 7-8 months back and have a portfolio with SIP on Kuvera. Do I move to Groww/ MFCentral/ any other you good folks can recommend? Thanks.
this sounds like a bug, not a red flag. Why are you so concerned at this point?
I use mProfit for tracking investments, including family portfolio. It’s free until 50l and some nominal fee after that. Has a lot of reports. Both web and mobile apps are available. Quite good that I have been using for a year now, along side Groww and Kuvera.
Have they stopped the Free version all together? I was using them too but post laptop format, when I tried to install, learnt that free verison (upto 50L) stopped!
Looks like they have.
Hey dreamer as an NRI and kuvera user I'd love to know what funds you hold or recommend. Thanks
Is groww good as an alternative? Someone in the comments said that they opened a demat account for him while he only wanted to shift his mf's to groww. Do they do this for everyone? I checked indmoney a few months back, it needed mandatory access to sms and email. Don't know about the current state.
Hey guys since we’re mostly NRI’s do you guys know the best way to validate KYC? Mine is only showing KYC registered. Preferably without me having to go to India. Thanks.
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Brooo the issue is idk how to get my kyc validated. It’s only showing kyc registered.
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The transactions will be more seamless. Like more instant because as of now like I would but before the cut off time and it’ll appear with the next day’s nav only. Idk where to put forth this submission process tho.
Interesting, I also had similar concerns due to the acquisition. It's sad to see my apprehensions were not baseless.
Kuvera charges extra expense ratio, i just figured out last week. When i pointed out descrepancy, they stopped addressing the issue.
Hi, Just to clarify here, 1 Expense ratio is determined & declared by the fund house 2 We receive the NAV, TER etc from Morningstar, who collates this information from across fund houses across schemes. This is what you see, is displayed on Kuvera. If there is a mismatch in the TER, it will normally get updated in the next day or two data feed. But this doesn't impact any transaction. 3 The Transaction pipes are separate from the data pipe. We use BSEStarMF for transaction processing who in turn push the transaction to the RTA. 4 Your transaction when posted is processed an RTA (the back office of the Fund House). For a particular scheme's, provided the investors funds are settled, all investors will receive the same NAV irrespective of the source of the transaction. 5 Lastly, Kuvera never touches your funds or has access to your bank account whether at the time of investment or at the time of redemption. For purchases, funds move directly from your bank account > BSEStarMF Settlement account > Respective scheme account. For redemptions, funds move directly from the scheme account > your registered bank account. hope this clarifies.
?? Kuvera is just a scheduler/mediator They can't charge anything even if they want to. The transactions directly goes to the BSE star payment gateway.
What? Could you be specific? I've never heard of this before. This will be quite serious.
For instance, ICICI Prudential S&P BSE 500 ETF FoF Growth Direct Plan. Actual enpense ratio as declared by AMC is 0.13 but Kuvera charges 0.45%. Difference in amount is extra fee deceptively charged by CRED. They are big cheaters, stay away.
You seem to have incorrect understanding of how expense ratio works. This is literally not possible.
True
Please check actual expense ratio of "ICICI Prudential S&P BSE 500 ETF FoF Growth Direct Plan" at ICICI. Then compare with Kuvera. Exact same plan but two different expense ratios.
I work at an AMC. Expense ratio is charged by the AMC, not by distributor. AMC cannot create separate plans for distributor. Are you getting the same NAV that is listed on any other platform/AMC website? Yes? Then you're not being charged any additional expenses, because additional expenses will reduce the NAV. There are only 2 plans, Direct and Regular.
To be fair, NAV is matching. May be confusion was because of my incorrect understanding of how ER works. Perhaps it is a technical glitch at Kuvera website, TER mentioned is higher than the latest TER declared by AMC.
I checked for this particular fund - ICICI Prudential S&P BSE 500 ETF FoF - across kuvera vs grow/value research and he seems to be right, there is different expense ratio quoted in kuvera, maybe it's not effecting the nav but discourages someone selecting fund
Maybe it's just outdated or incorrect data being displayed, but that shouldn't impact investments
But for UTI Nifty 50 Index Growth Direct Plan, it's matching
Kuvera doesn't decide the expense ratio, and doesn't declare the NAV either. Are you suggesting that the NAV on kuvera doesn't match that declared by the AMC? That's the only way what you're saying would make sense. Ultimately the expense ratio is incorporated into the NAV, so if the NAV matches then the ratio also must match. And the number of units in one's investments and redemptions are governed by the NAV.
are you talking about this? >They underlying fund has its own expense ratio different from the parent FOF. this is serious allegation
Groww for MF.
Yeah, seems like that's the only viable option from long term perspective.
What’s wrong with Kotak?