Need Help please!! I want to invest in some OPEN ENDED MUTUAL FUNDS in India?

Please suggest me some fund schemes and the procedure how to go about it.

Thanks!

I have a objection on what the first gentleman has said. Indians are not like nigerians. India is the second fastest growing economy in the world after china. and Indian Mutual Funds are the most trusted and most rewarding mutual funds.

I am a Certified Mutual Fund Advisor and Financial Planner from India.

In responce to your question, i would like to state that Foreigners are not allowed to invest in Indian Mutual Funds directly. Only Indian Residents and Non-Residents of India (Those people who are residing outside india but their father or grand father was born in undivided india). These people are called persons of Indian Origin (PIO).

These Non-Resident Indians (NRIs) can invest in Mutual Fund through their Non Residet External (NRE) Bank Account Maintained in any Indian Bank in India.

Also these Non-Residents have to get Permenant Account Number (PAN) from Income tax Department in India, without which they can not invest in Indian Mutual Funds.

So i regret to say that you will not be able to invest in Indian Mutual Funds with your status as foreign national or foreign citizen.

Still I have an alternative way through which you can invest in Indian Mutual Fund. and If you want to learn about that you can contact me/email me. I would be more than happy to assist you.

I'd be very careful about dealing with "international investors"
Be careful you aren't just supporting another Nigerian scheme. There are very clever and charismatic people out there who know what they are doing. Oh yeah and if you do go abroad NEVER GIVE UR PASSPORT TO ANYONE FOR ANY REASON AT ANY TIME. Oh yeah and send that email to the state department or some government agency, if they say something about it, you prally were about to become a pidgeon.

I agree with Bhavesh's opinon over Nickp's comment. The question is about investing in mutual funds and not winning a free lottery!
Although I dont know much about mutual fund investments, but I know that India is a booming market for these and have heard from some freinds who have invested in it and enjoyed returns upto 33% in he last 13 months.
Good Luck!

I am authorised distributor for mutual funds in India. you can trust my views

The first thing to watch is are you a citizen of India?

If not you are not able to make any investment.

If you are an NRI you can do investment with NRI or NRE account

The next thing if you are a resident you can make investment in any of the mutual funds in India either open ended or close ended.

The only necessity is PAN Card which can be got either through online in www.utitsl.co.in, or through intermediaries.

Then you have to provide the xerox copy of the PAN Card to the distributor he has to attest it and provide the application to the AMC to which you are applying with the attested xerox copy of the PAN Card and it must accompany the details of bank details and nominee details.

You can also opt for SIP or SWP or STP options between funds. You can choose the funds from SBI which scores best in Ranks.
for more information you can mail me