I could have also called this ‘Mutual Fund and the Common Man’. This is a blog that is being written as a genuine feedback from IFAs and customers.

1. A good fund manager is a must: Only because a fund house has a good fund manager are clients coming to them.

2. However, having a good fund manager should not be the reason why the back office of an Asset management company (mutual fund as people call them) should be arrogant.

3. The fund statements are too complicated – especially if they are summarized. Even detailed statements do not show the IRR of the scheme FOR THE PARTICULAR CLIENT. Not logical at all.

4. Why does the fund house not send an ANNUAL statement of booked capital gains – afterall they have the purchase price, sale price, dates of the transaction – cannot this be automated?

5. Why do mutual funds send such complicated emails – and in many cases the files do not open. GRrrrrrrrrrrrrrrr.

6. For long running mutual funds, whey do they not send an annual summary with following details : year, amount invested, the market value of the investment, and IRR – for SIPs that are 3 years and older?

7. If banks can give us such detailed statements, why cannot Mutual funds give us an E-access to our statements so that we can see it in which ever format we WANT?

..CAN go on and on….but will stop…

  1. True. Annual statement will help investors who stopped investing long time ago. If the investor is no more, his children have no idea where their father had invested the money. Regulator must make it compulsory.

  2. Sir,

    I agree 100% with what you have stated. My experience with Franklin Templeton are really good. They have an awesome website that is responsive and easy to use. They allowed me to open an online account with least fuss.
    The same was very bad with HDFC, they had me open 3 different accounts for 3 of the funds I owned, then they wouldnt show anything but the fund I owned when I logged in online, no consolidated statement.
    And the site was very bad.
    The people who man the desks in back office behave many times as if they own the stock markets.
    I guess its an Indian habit, people start thinking that its a family enterprise and they own the whole place.
    It will help these funds if they make the website and their staff and office accessible. They seem to spend more money and attention on distributors and few big investors.

  3. True for FT. I have been now using FT’s online portal for most of my MF purchases. They also gave an end of year capital gains statement making my life easy from tax filing perspective.

  4. Absolutely right sir. This post should be forwarded to both SEBI & AMFI. In this Tech savvy world, this should be done compulsory.

  5. FT is good. My experience with hdfc online has been better than what is stated above. I think if this blog is fwded to quantum, they might take feedback and try implementing; at least that’s the feel I got when I spoke to their customer care..

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