I transferred mutual funds from my njwealth account to angel broking account through easiest on 27 mar 2024, but even after 2 weeks have passed, the mutual funds are not showing in my angel broking application platform.
I downloaded the transaction inquiry sheet and it says ‘Txn forwarded to CDSL for processing’
If anyone facing same problem, please help me understand this.
Angel One does not store mutual funds (MFs) in demat form. They store it in non-demat form (with cams and kfintech) and probably only show mutual funds fetched from these 2 companies. Not sure whether they will show demat MFs in the angel one app then.
You can login to CDSL with your Angle One broker ID and number to check if it’s actually there in your Angel One demat account or not. It could be possible that it’s there in the demat account, but Angel One app is just not showing it since it does not know what mutual funds in demat form are.
I strongly suspect it got transferred successfully but Angel One app is just hiding it because it doesn’t support MFs in demat form. You can login to CDSL and then transfer it back to NJwealth or Zerodha, which are the only brokers I know that support MFs in demat form.
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Thank you for such swift reply.
I didn’t know about angel one not supporting mf in demat form but there is a mutual fund segment in angel one, so i was confused to not see the mfs there.
Yes the mfs are showing when i log in to angel one easiest. But may be i will follow your advice of transferring it to zerodha instead.
But what about the transaction forwarded to cdsl for processing (attached the screen shot as file could not be attached). It means the process is not complete yet.
And again; i can see the mfs in my njwealth app platform( But not in easiest njwealth log in). So it makes me think should i wait for the process to complete?
The new Mutual fund segment in Angelone supports MF units storage in demat form. Please check with their support once. They will help u out. I had some mutual fund units in demat form in angelone recently.
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Sir, angel one support is not replying. The nj wealth support says transaction is successful ( so does the cdsl helpdesk), but you will see the mutual funds in nj platform only but the security transfer will take place in angel one. It is very confusing. I then asked how do i sell the mfs i.e. from which app platform would the sell take place. But njwealth is not replying to that.
Can i do something here?
Ask NJ Wealth why it is showing in NJ Wealth despite transferring. If they are not respodning or not satisfied with complaint resolution you can file complaint on SEBI Scores here.
Ask angel one if you can sell it.
If you have Zerodha account you can transfer it to zerodha’s demat account and sell them through Coin.
@ShubhS9 if he directly transfers MF units to Zerodha’s demat account from another, will it show up in Coin?
If the mutual funds held are of regular plan, these will not show in Coin. If these are direct plans, they will.
@SAGAR_MOHANTY Please keep this in mind before transferring to zerodha (if you are doing that) to avoid additional headaches.
Decide carefully whether you want to sell/hold and based on that you can do something to avoid more transfer charges/stress.
Any idea of how to sell MF units in demat form if they are of regular plan?