I must confess that SBI MFs need to be net savvy. Take a look at Franklin Templeton, Reliance or HDFC Mutual funds – all these AMC have a proper and decent online transaction facility.
This is a must and necessity in today’s fast paced world. If I have excess cash to spare, then it becomes a tad easier to park your money with just a single mouse click. I do understand that hosting and maintaining websites does not come for free and probably may have a bearing on fund’s expense ration or even AMC’s expense. But then see the need for it:
I call a pathetic/hapless agent and request him to take a cheque from me. More often than not, these fellas act pricey or they are just too busy. In my case, the guy is actually busy. So I have to go all the way and give him the cheque manually. Other fear why I don’t send cheque directly to the Investor Center or AMC directly is the fear of misplacing the cheque (though this may be a crossed one). Secondly, I am not sure when my courier or post will reach its destination as there is no acknowledgment for the receipt of letters or couriers.
Well, they do have that online system but like I said not up to the mark as that of Franklin Templeton, Reliance or HDFC Mutual funds.
So SBI MF fellas, get up and spruce-up to the new the world order and don’t be that lazy humbug. Be fresh and anticipate the changing needs of customer and evolve yourself accordingly. I hope somebody is listening…. J
The only icing in the cake is that SBI MF has performed consistently over a period of time and that’s the reason to cheer about.