New feature launch - Import Mutual Funds

I can completely understand the disappointment Abhash. :frowning: If you can just message me your email address on the community itself, I will make sure to look into the issue personally and give you updates. I am heading the operations at Niyo Wealth. Hope to hear back from you.

Used the feature, but CAMS reports are not showing my Paytm Money MF investments.

Hey Ankur, thanks for the message.
The Consolidated Account statement (CAS) usually has all folios associated with a single email ID. If the paytm folios are associated with another email ID, then this CAS will not have the folios and we will not be able to update it in Niyo. So if this is the case, we would request you to generate the CAS with the other email ID in the same flow in Niyo and then forward it like the earlier on.
Alternatively, if the CAS has the folios and you still cant see them in Niyo, do let us know and we will be sure to look into it further.
Looking forward to your response.

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Makes perfect sense. Thanks.

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Hey Abhash, happy to know that this issue has been resolved :slight_smile: Happy investing!

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Tried it and it works well.
One suggestion - Would it be possible for you to add an option in the app so that we can upload the CAS document from our phone only rather than forwarding it to an email id?

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Hi Himanshu! Thanks for your feedback :slight_smile:
Just a follow up question on this - given these options, what will you prefer:
a) Upload CAS (as per yoru suggestion) or
b) Enable one-time auto-generation of CAS on Niyo and auto-forwarding on your email so that a fresh CAS gets generated automatically monthly and gets auto-forwarded to us.

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Hey Medhavi,

Even though I was looking for the first option, the option b does look interesting.
But do I need to set up an auto-forwarding in my email account so that the mail from CAS is auto-forwarded to Niyo every month? If yes, wouldn’t it be a little bit complicated?

Also, since all these emails from all users are being forwarded to one email address (with the same password I guess), is it really a secure way to implement this?

Yes you are right. Setting up auto-forwarding will be required in your email and this will be a one time task. While uploading will be manual process every month.

Even now the emails are being forwarded to the same email address so nothing will change if we implement any of these options. Also the CAS does not have any sensitive data. Having said that, we do take safety of our user’s data very seriously so irrespective of how you share the CAS with us, we ensure that your data is not compromised.

Great. I feel the 2nd option of setting up auto-forwarding of email would be a better idea then.

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Got it. Thanks for your inputs :slight_smile:

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Not sure if I missed this info, but I want to enquire - does importing mean that my existing account Mutual funds holdings will transfer to Niyo? Or is it an import just to keep track of my holdings elsewhere?

Please clarify as there’s SIPs also and I wonder how they would be updated especially if it’s the second scenario mentioned above.

Hey @pbafna ,
Importing means you can track all your external MF holdings through Niyo and can transact (buy/sell) in them too. This does not mean that they have all been transferred to Niyo though. Once you transact through them, the folio will be jointly held by your external broker/advisor and us.
Also, in the invested money (via SIPs and lumpsums) can be tracked but ongoing SIP instructions cannot be tracked as SIPs are held solely by the broker/advisor and that information is not present in the CAS. In short, if you want to modify your SIP/stop your SIP you will need to do that from your wherever you started it initially.
Hope this helps :slight_smile:

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I tried and not all my investments are appearing in overview section. I wanted to know when the NAV’s will be updated in general on working day. most of similar apps does by 09 PM at most.

Hi Kishore! May I know the external funds that are not updated in your portfolio are present in the CAS that you have forwarded to us? If they’re not in the CAS itself then most probably it’s because any other email address is linked to those funds.

If they’re present in the CAS and still not updated in the portfolio, please raise a ticket and we’ll look into it.

The NAV is updated at around 10 PM daily and then at about 6 AM. Sometimes all the funds do not update the NAV by 10 PM so we update again in the morning.

How much time it will take to reflect the imported MF?

Few minutes, that’s all.

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Zero balance folios do not pull up. Reason this is needed is to track the capital gains, else the capital gain that shows is broken and does not show the correct value. This is the only reason that kept me from jumping ship to Niyomoney.

Mutual Funds - CAS
Right now the redemption process is not at all secure, please introduce a OTP authentication layer. Also, where will the redemption amount be credited, will it to the portfolio mapped account or the NiyoX account?

@Medhavi_Chandra

Actually I’m new to this…and I had gone through some posts in this topic regarding forwarding CAS every month.
I want to import for this current offer