Fire your MF agent!

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Do you invest in mutual funds?

And more importantly, do you invest through an agent or a broker?

Fire him! Save money!

SEBI in its circular dated December/31/2007, has stated that no entry load shall be charged for direct applications received by an AMC for investments in existing and in new schemes launched on and after January 4, 2008.

Now, what is a direct application?
1. Internet applications received directly through the AMC website.
2. Applications submitted directly to the AMC or collection centre or Investors Service Centre.

Go ahead, fire your agent (or online broker).. and mark your calendar to visit the AMC soon.

An update: Deepak Shenoy in his blog, tells investors to “strike away the column where distributor code is written” when applying directly to fund. Thanks Deepak.

Also, I think it is a good idea to write “DIRECT” in bold letters in the space for code.

Happy investing!

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