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Which bank is the best bank to invest mutual funds? |
Which bank is the best bank to invest mutual funds? like the two answers before, I agree that you shouldn't use a bank. If you want to invest your money in mutual funds I would look at using a financial advisor to get the best answer. Otherwise you could look into something like Vanguard, Fidelity, Openheimer, Dreyfus, or Gartmore. They are all good companies. The reason I suggest a financial advisor is so you can take a risk assessment test to find out which would be the best for you. A lot of insurance agents are also licensed financial advisors (who don't charge extra for the service). You may want to start there. No bank gives the best rate on mutual funds. You need to go to an investment broker. BANK? You want to find a low cost No-Load mutual fund company like Vanguard or Fidelity. Mutual funds are schemes launched by AMCs, ie, Assets Management Companies. So, not all mutual funds are launched by banks. Only a few of them are managed by bank associates. For example, SBIMF is different from SBI. PruICICI MF is different from ICICI Bank or PruICICI Insurance and so on. Bank managed schemes work well as bankers are the most experienced people in the field of finance. Specially in a nation like India, where MF is a new concept, banks can play a significant role. The MF concept was begun by UTI in 1960s. So, UTI is the most experienced player in this segment. UTI has got superb schemes to meet all your needs. Further, we have very good schemes from PruICICI, Now ICICI Prudential AMC. HDFC schemes are also very good. They are award winning schemes. The latest boom in this field by Reliance MF and Franklin Templeton MF. They are just rocking the markets. If you want to retrict your investmentments to banking companies, I would suggest you SBI MF which has been outstanding performer in this arena. The schemes like Magnum Taxgain, Midcap, etc have given astounding returns. Banks are worst place for any investment especially mutual funds. To even think of engaging in an investment program with 1... DON'T BUY MUTUAL FUNDS AT A BANK. Why do you need a bank to invest in mutual fund? |
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