Purchase Mutual Funds
Mutual Funds (MFs) are investment instruments fund collects money from investors and invests the money on their behalf. It is one of the top investment choices for retail investors that allows the investors to view and manage the professionally managed portfolios of instruments like equity shares, bonds, insurance etc. Some mutual funds are also traded in stock exchanges - these are called Exchange Traded Funds (ETFs). Mutual Funds are managed by a fund manager. The investor share of investment is called as "Units" that represents the ownership of the investor in the scheme.
The investor make the purchase of Mutual fund units, or shares, based on the fund's current market value of the fund's investment portfolio which is termed as net asset value (NAV) per share/ NAVPS. A fund's NAV is derived by dividing the total value of the securities in the portfolio by the total amount of shares outstanding.
The investor (retail user) can purchase single or multiple mutual funds in one go and can place orders to be executed same day or at any future date. Further customer can place one time lump sum order or a recurring order called Systematic Investment. The investor can buy mutual funds from their existing schemes as well as invest on new schemes. The OBDX allows the user (investor) to view the list of recommended funds and top purchase funds so that he can take a decision of buying the funds.
Pre-Requisites
- Transaction access is provided to the Retail User.
Features Supported In Application
The module supports the following features:
How to reach here:
Dashboard > Toggle Menu > Wealth Management > Place Orders > Purchase Mutual Funds
Purchase Funds - New
This option allows the retail investor/ user to place purchase orders either one time or Systematic Investment Plan (SIP) or Standing Instruction (SI
Standing Instructions: It is an instruction a bank account holder (Payee) gives to his or her bank to pay set of amount at regular intervals to another's (Payees's) account.) type for buying one or more mutual fund schemes. In SIP the dates of investment and frequencies are pre-decided by the fund house therefore an SIP is a one-time instruction to the fund house to place recurring orders. SI on the other hand is a feature provided by the bank to mimic the SIP but with dates & frequency chosen by the investor. Here the order is not a one-time instruction/order but multiple orders placed one time by investor.
To purchase the new mutual funds:
- Navigate to the Purchase Mutual Funds option. The Select Fund screen appears.
- In the Search for new mutual fund to purchase or pick one of your existing funds field, select the New option.
Purchase Mutual Funds - Select Fund
Field Description
|
Field Name |
Description |
|---|---|
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Fund Details |
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Search for new mutual fund to purchase or pick one of your existing funds |
Options for the user to select a new mutual fund to purchase or to purchase additional units of a scheme he already has invested in. The options are:
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Fund House |
The fund house from which user intends to purchase the fund for current purchase order. |
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Fund Category |
The fund category from which user intends to purchase the fund for current purchase order. Example – Equity Category, Debt Category etc. |
|
Scheme Name |
Name of the fund/ scheme which user intends to purchase for current purchase order. |
|
Purchase Type |
Type of purchase order user wishes to place. The options are:
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Recommended Funds/ Top Purchased Funds |
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Scheme Name |
Name of the funds/ scheme as recommended by the application/ or that are mostly purchased by the investors. |
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Latest Price |
The current price of the recommended funds/ top purchased funds. |
|
Returns in% (1 Month/ 3 Months/ 1 Year/ 3 Year/ 5 Year) |
The past rate of return that the fund has earned (recommended / top purchased) over a period. |
- From the Fund House list, select the fund house from which user intends to purchase the fund.
- From the Fund Category list, select the fund house from which user wants to purchase the fund.
- From the Scheme Name list, select the fund/ scheme which user wants to purchase.
- In the Purchase Type field, select the appropriate purchase type.
- Click . The Purchase Order - Order Details screen appears.
OR
Click to cancel the operation and navigate back to ‘Dashboard’.
OR
Click Buy/ SIP/ SI link, in the Recommended Funds/ Top Purchased Fund section.
The Purchase Order - Order Details screen with the details of selected scheme and Purchase Order Details appears. - If you have selected Onetime option in the Purchase Type field, or clicked the Buy link in the Recommended Funds/ Top Purchased Funds section, following screen appears.
Purchase Order - Order Details - Onetime
Field Description
|
Field Name |
Description |
|---|---|
|
Scheme Name |
Name of the scheme selected for current purchase order. |
|
Scheme Rating |
Rating of the scheme selected for current purchase order, as provided by MF processor. |
|
Latest Price |
The latest NAV/ Price per unit the scheme chosen for current purchase order as provided by MF processor. The value below the Latest Price field is the Amount % % change over previous value of the NAV/ Price per unit the scheme chosen for current purchase order as provided by MF processor. |
|
Fund House |
The Fund house to which the fund house in context belongs. |
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Scheme Suitability |
Displays whether the scheme is suitable for user to invest in provided by MF processor. The system displays 'Yes' if its is suitable and 'No', if the scheme is not suitable. |
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Investment Account |
The investment account to which the current purchase order belongs. |
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Risk Profile |
The risk profile of the selected investment account. For more information on Risk Profile, click Risk Profiling. |
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Pay From |
The current and savings account from which user can pay for the purchase order. |
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Folio |
The option to select whether the current purchase order will go under new folio number or an existing one. |
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Dividend |
The dividend for the current purchase order. The options are:
The options will appear only if the selected scheme has dividend option. |
|
Transaction |
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Order Amount |
The order amount of the current one-time purchase order. |
|
Minimum Amount |
The minimum order amount as set by the fund house for the scheme. |
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When |
Select the option by which to specify when the orders are to be submitted for execution. The options are:
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Order Date |
The future date on which the orders are to be submitted for execution. This field appears if you select Later option in the When field. |
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Cut Off Period |
Cut off time and date for the order as provided by the MF processor. |
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Purchase Order Details Fund(s) Currently selected for purchase |
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No. of Funds Currently selected |
Displays the number of purchase orders that have been placed till then ( in the context of multiple buy orders - maximum 3 purchase orders can be placed in one go). |
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Total Order Amount |
Sum of all the order amounts. |
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Folio Number |
Folio number of the selected order or "New" is displayed in the case new folio option has been selected. |
|
Scheme Name |
Name of the scheme selected for current purchase order. |
|
Order Amount |
Order amount keyed in by user. |
- From the Investment Account list, select the investment account to which the current purchase order belongs.
OR
In the Scheme Details section, click the View More link, if you want to view more details of the scheme selected for current purchase order.
- View More
-
Field Description
Field Name
Description
NAV as on Date
The net asset value (NAV) per share/ NAVPS , is the fund's current market value of the fund's investment portfolio as on the current date.
Funds Rating
Rating of the scheme selected for current purchase order, as provided by MF processor.
Assets as on Date
The value of the total assets of the selected scheme on a particular date.
Fund Manager
Name of the fund manager who manages the fund.
Subscription Status
Subscription status i.e. whether the fund is open or closed currently for subscription.
Snapshot
This tab displays the overall snapshot of the selected fund/ scheme.
Fund Category
The fund category from which user has selected the fund for purchase.
52 Week High
Highest price of selected scheme over the period of past 52 weeks.
52 Week Low
Lowest price of selected scheme over the period of past 52 weeks.
Return Since Launch
Amount of money earned by the scheme since it is launched.
Latest Dividend and Date
Date and amount of recent most dividend declared by the fund. The amount of dividend here refers to the dividend earner by customer in the fund.
Graph
The graph displaying the value of the fund on a a particular day of month.
Performance
This tab displays the overall performance of the selected fund/ scheme.
Fund Return
The rate of return in percentage, the selected fund/ scheme has earned for a week, month, three months, six months, One year, three years, or five years.
Benchmark Return
This represents the rate of return earned by the benchmark index of the fund.
Difference Between Fund and Benchmark Return
This represents the difference in rate of return earned between the fund and the benchmark index.
Category Average Return
The average rate of return in percentage for the category to which the scheme in context belongs, over multiple periods like a week, month, three months, six months, One year, three years, or five years.
Difference Between Fund and Category Average Return
This represents the difference in rate of return earned between the fund and the average of rates of return of a peer group of funds.
Rank in Category
Represents the rank of the fund in its peer group based on rate of return earned for a specific period.
Growth of 10,000
This figure represents how an investment of 10,000 (in fund currency) would have grown over a period of time.
Percentage of Growth
This represents the rate of return the 10,000 invested in the fund (mentioned above) has achieved over different periods of time.
Portfolio
Represents the current portfolio – the top sectors and top holdings along with % exposure to them respectively.
Top 5 Sectors
Top five sectors where funds can be invested.
For example: Financial, Technology, Construction, etc.
Top 10 Holdings: Equity Fund-Growth
Top 10 holdings provides the information of the fund portfolio on which the user invests. The rank of the Holding is calculated by their total market value and expressed as a percentage of the fund's total assets.
How to Invest
Lumpsum Investment
This type of investment allows the retail investor to place order for one time lump sum purchase.
Minimum Initial Investment
The minimum initial investment as allowed by the fund house.
Minimum Subsequent Investment
The minimum amount allowed for the next investment after the first initial investment.
Minimum Withdrawl
The minimum amount allowed to be withdrawal from the investment.
Minimum Balance
The minimum balance to be maintained.
Repurchase
Displays whether repurchasing of funds are allowed or not.
Resell
Displays whether reselling of funds are allowed or not.
Repurchase Start Date
The start date of repurchase.
Repurchase End Date
The end date of repurchase.
Purchase Pricing Method
The method to determine the purchase price of the funds.
Purchase Cutoff Time
The cut off time for the fund purchase order as provided by the MF processor.
Redemption Time
Redemption time of the purchased funds.
Systematic Investment Plan
Minimum Installments
Minimum number of installments for the SIP specified by fund house.
Minimum Investment
Minimum investment allowed by the fund house.
Date Allowed
The date on which SIP is allowed.
Other Details
Recurring Withdrawal Allowed
Displays whether recurring withdrawal is allowed or not.
Recurring Transfer Allowed
Displays whether recurring transfer is allowed or not.
- From the Pay From list, select the account to pay for the purchase order.
- From the Folio list, select the appropriate option.
- In the Dividend field, select the appropriate dividend type.
- In the Transaction section, enter the order amount of the purchase order in the Order Amount field.
- In the When field; select the appropriate date for order execution.
Select the future date from the Purchase Date list, if you select Later option.
Purchase Order - Order Details - SIP/ SI
Field Description
|
Field Name |
Description |
|---|---|
|
Scheme Name |
Name of the scheme selected for current purchase order. |
|
Scheme Rating |
Rating of the scheme selected for current purchase order, as provided by MF processor. |
|
Latest Price |
The latest NAV/ Price per unit the scheme chosen for current purchase order as provided by MF processor. The value below the Latest Price field is the Amount change over previous value of the NAV/ Price per unit the scheme chosen for current purchase order as provided by MF processor and the Percentage change over previous value of the NAV/ Price per unit the scheme chosen for current purchase order as provided by MF processor. |
|
Fund House |
The Fund house to which the fund house in context belongs. |
|
Scheme Suitability |
Displays whether the scheme is suitable for user to invest in provided by MF processor. The system displays 'Yes' if its is suitable and 'No', if the scheme is not suitable. |
|
Pay From |
The current and savings account from which user can pay for the purchase order. |
|
Balance |
The current balance in the current and savings account from which user can pay for the purchase order. |
|
Dividend |
The dividend for the current purchase order. The options are:
The options will appear only if the selected scheme has dividend option. |
|
Transaction (Installments) |
|
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Order Amount |
The order amount of the current one-time purchase order. |
|
Minimum Amount |
The minimum order amount as set by the fund house for the scheme. |
|
Start Date |
List of SIP (Systematic Investment Plan) date specified by fund house. In case of SI (Standing Instructions) the user has to select the start date to set up standing instructions. |
|
Frequency |
List of SIP / SI frequencies specified by fund house. The options are:
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Installments |
List of SIP (Systematic Investment Plan)/ SI installments specified by MF processor. |
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Min. Installments |
Minimum number of installments for the SIP/ SI specified by fund house. |
|
End Date |
End date of SIP/ SI based on start date, frequency & installment number. |
|
Cut Off Period |
Cut off time and date for the order as provided by the MF processor. |
|
Purchase Order Details Fund(s) Currently selected for purchase |
|
|
No. of Funds Currently selected |
Displays the number of purchase orders that have been placed till then ( in the context of multiple buy orders - maximum 3 purchase orders can be placed in one go). |
|
Total Order Amount |
Sum of all the order amounts, in case of SIP or SI - sum will consider individual per installment amount and not the (installment number * per installment amount). |
|
Folio Number |
Folio number of the selected order or "New" is displayed in the case new folio option has been selected. |
|
Scheme Name |
Name of the scheme selected for current purchase order. |
|
Order Amount |
Per installment amount keyed in by user. |
- From the Pay From list, select the account to pay for the purchase order.
- In the Dividend field, select the appropriate dividend type.
- In the Transaction section, enter the order amount of the purchase order in the Order Amount field.
- In the Start Date field, select the appropriate start date for SIP/ SI.
- From the Frequency list, select the SIP/ SI frequency.
- From the Installments list, select the SIP/ SI installments.
- In the End Date field, select the appropriate end date for SIP/ SI.
- Click . The Purchase orders placed section displaying No. of orders placed, Total Order Amount, Folio Number, Scheme Name, Order Amount appears.
- Select the I agree to the Terms and Conditions check box to continue to purchase the funds.
OR
Click the Buy Another Fund link, if you want to buy another fund.
The Purchase Fund - Select Fund screen appears. - Click .
OR
Click to cancel the operation and navigate back to ‘Dashboard’.
OR
Click Back , to navigate to the dashboard.
OR
Click Back to Dashboard, to navigate to the dashboard. - The Review screen appears. Verify the details, and click .
OR
Click to cancel the transaction.
OR
Click to navigate back to previous screen. - A message confirming that the transaction has been initiated appears along with the transaction reference number.
Click Go to Dashboard link, to navigate to the dashboard.
OR
Click More Payment Options to access other payment options.
Purchase Funds - Existing
This option allows the retail investor/ user to place purchase orders either one time or Systematic Investment Plan (SIP) or Standing Instruction(SI) type for buying one or more units of the mutual fund schemes which is currently owned by the investors.
To purchase the mutual funds:
- Navigate to the Purchase Mutual Funds option. The Select Fund screen appears.
- In the Search for new mutual fund to purchase or pick one of your existing funds field, select the Existing option.
Purchase Mutual Funds - Select Fund
Field Description
|
Field Name |
Description |
|---|---|
|
Fund Details |
|
|
Search for new mutual fund to purchase or pick one of your existing funds |
Options for the user to select a new mutual fund to purchase or to purchase additional units of a scheme he already has invested in. The options are:
|
|
Investment Account |
The investment account to which the current purchase order belongs. |
|
Risk Profile |
The risk profile of the selected investment account. For more information on Risk Profile, click Risk Profiling. |
|
Scheme Name |
Name of the fund/ scheme which user intends to purchase for current purchase order. |
|
Recommended Funds/ Top Purchased Funds |
|
|
Scheme Name |
Name of the funds/ scheme as recommended by the application/ or that are mostly purchased by the investors. |
|
Latest Price |
The current price of the recommended funds/ top purchased funds. |
|
Returns in% (1 Month/ 3 Months/ 1 Year/ 3 Year/ 5 Year) |
The past rate of return that the fund has earned (recommended / top purchased) over a period. |
- From the Investment Account list, select the investment account to which the current purchase order belongs.
- From the Scheme Name list, select the fund/ scheme which user wants to purchase.
- Repeat the steps 7 to 12 of Purchase Funds - New section.