Thank you Rama sir. This evening I received following reply from SBI MF team: This is to inform you that the above-mentioned folio being a Demat folio, we request you to contact your depository participant (DP) for any folio related information. We are unable to share folio related information as the units are De-materialized. Please note that investment of stock exchange folio does not reflect on SBIMF portal. Can you elaborate on this more in detail? Thank you once again.

Ans: Only unlisted equity shares need to be disclosed in ITR2.

Mutual funds do not require a disclosure under this provision.

 

Ans: Hello Devendra, I can see over diversification with your current investments with 14k sip amount. I would suggest to concise your mf investments and reshuffle the portfolio. You can reconsider schemes of AMC like IDFC, Quantum and Edelweiss MF.

Ans: Assessment of Current Mutual Fund Portfolio

Analyzing Investment Strategy:

Investing Rs. 3000 in Nippon India Small Cap Fund (Direct Growth), Rs. 2000 in HDFC Midcap Opportunities Fund (Direct Growth), Rs. 2000 in HDFC Small Cap Fund (Direct Growth), and Rs. 1500 in HDFC Top 100 Fund (Direct Growth) reflects a diversified approach across small-cap, mid-cap, and large-cap segments of the market.

Reviewing Fund Selection:

Nippon India Small Cap Fund:

Investing in a small-cap fund offers potential for high growth but comes with increased volatility. It's suitable for investors with a high-risk tolerance and a long-term investment horizon.
HDFC Midcap Opportunities Fund:

Mid-cap funds invest in companies with moderate market capitalization, offering a balance between growth potential and risk. They are suitable for investors seeking capital appreciation over the long term.
HDFC Small Cap Fund:

Similar to the Nippon India Small Cap Fund, HDFC Small Cap Fund focuses on investing in small-cap companies. It provides exposure to high-growth potential stocks but carries higher volatility.
HDFC Top 100 Fund:

Investing in a large-cap fund like HDFC Top 100 Fund provides stability and capital preservation. Large-cap stocks are less volatile and offer relatively stable returns compared to mid and small-cap stocks.
Suggested Changes or Adjustments:

Diversification Across Fund Houses:

Consider diversifying across different fund houses to mitigate concentration risk. Investing solely in HDFC funds may expose your portfolio to specific company or sector-related risks associated with HDFC's portfolio.
Evaluate Expense Ratios:

Compare the expense ratios of your current funds with similar funds from other fund houses. Lower expense ratios can lead to higher net returns over the long term.
Review Performance Consistency:

Evaluate the consistency of fund performance over different market cycles. Look for funds with a track record of delivering consistent returns relative to their benchmark indices.
Benefits of Regular Funds Investing through MFD with CFP Credential:

Professional Guidance:

Working with a Certified Financial Planner (CFP) ensures access to professional guidance and expertise in creating a tailored investment plan aligned with your financial goals and risk tolerance.
Portfolio Customization:

A CFP can help customize your investment portfolio based on your unique financial situation, investment objectives, and time horizon.
Continuous Monitoring:

With regular funds investing through a Mutual Fund Distributor (MFD), your portfolio is continuously monitored, and adjustments are made as needed to keep it aligned with your goals.
Conclusion:

Your current mutual fund portfolio showcases a diversified approach across different market segments. However, considering factors such as diversification across fund houses, expense ratios, and performance consistency, it may be beneficial to review and potentially adjust your portfolio under the guidance of a Certified Financial Planner.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Ans: Your concern regarding the redemption of SBI mutual fund units is valid. Let me address it step by step to provide clarity and potential solutions.

1. Legal Documentation Requirements
SBI Mutual Fund follows strict documentation rules.

The requirement of an Aadhaar card or voter ID is standard in India.

However, NRIs with PAN and OCI cards should also be eligible.

PAN is legally accepted for financial transactions, even without Aadhaar.

2. Presenting OCI and US Passport as Proof
Your OCI and US passport are valid identity proofs.

These documents establish your identity as an NRI.

PAN card further confirms your association with Indian financial systems.

Mutual fund companies must accept these as substitutes for Aadhaar.

3. Difficulty in Personal Visits
Being in the US, visiting their office is impractical.

Mutual fund companies have online processes for NRIs.

Redemption requests should accommodate remote verification.

SBI Mutual Fund needs to update their NRI servicing standards.

4. Communicating with SBI Mutual Fund
Direct communication can resolve your issue faster.

Write to the grievance redressal cell of SBI Mutual Fund.

Clearly explain your situation and provide supporting documents.

Mention the challenges you face in visiting India personally.

5. Role of Certified Financial Planner
A Certified Financial Planner (CFP) can mediate for you.

CFPs have experience in resolving such issues with fund houses.

They can guide you on alternate processes for redemption.

Collaborating with a CFP ensures a professional approach.

6. Checking KYC Compliance
Ensure your KYC is updated as an NRI.

KYC is mandatory for mutual fund transactions in India.

NRIs must update their KYC when there is a status change.

Use KYC registration agencies to check and update your details.

7. Alternative Redemption Options
Explore other methods to redeem your mutual funds.

Contact the Registrar and Transfer Agent (RTA) for SBI Mutual Fund.

RTAs like CAMS or KFintech often provide better assistance.

Explain your NRI status and request a solution for remote redemption.

8. Legal Recourse if Needed
As a last resort, consider legal action.

Consult an expert lawyer experienced in financial disputes.

File a complaint with SEBI through the SCORES platform.

SEBI ensures that investor grievances are addressed promptly.

Final Insights
Your frustration is understandable, but there are solutions.

Strengthen your communication with SBI Mutual Fund and escalate issues if needed.

Engage a Certified Financial Planner for expert guidance.

Update your NRI KYC and use RTAs for smoother resolution.

Keep patience and follow up consistently for the best outcome.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment