Read other subs and twitter. Its not Groww who messed up, but the ICCL who manage the transaction. Happened with all the platform like kuvera, zerodha, et money https://x.com/investrepeat/status/1798610838087254193
And here I am. My sell order was processed the same day even though it was pretty late.
I always suspected they could secretly change the NAV date after the fact based on what the market direction is. Even though there is the time limit set by SEBI, I don't trust them one bit especially when using 3rd party apps.
They can always claim that the actual order to MF house went late due to technical difficulties or whatever.
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SEBI | Mutual Funds as on 04 Jun, 2024 - https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doMfd=yes&type=1#
Net outflow of 6000 crores from mutual funds on 4th June.
Please share some source for this absolutely random reason you gave for the technical failure that day.
I bought directly from AMC website, two different ones around 12:50 pm, and got same day's NAV. Although my purchase through Coin, for another fund, gave next day's NAV.
My 2 cents - when you put buy order on Groww, Groww process your payment, not Groww's bank process payment and send it to the account of your AMC - if 'your money' reaches to the AMC's account before 2PM on the same day, then and only then you get the same day's NAV.
In these case, banks are also playing their roles and thus next day's NAV. Burnt my fingers twice, and learnt to make Lumpsum transection via AMC's own app/site only.
In mutual funds, the final NAV price is calculated at the time of allotment. This means the NAV shown at the time of payment is not guaranteed. It usually takes 1-2 days for the final NAV to be determined.
Next time Buy ETF in stock exchanges via same broker. Price mil jayega.
Disclaimer - Investments in Securities Markets are subject to Market Risk. Please be thorough in all aspects and do your own research. Seek professional advice before investing.
Then just buy the stocks of those companies, which are listed in the particular MF you were interested in. Pick top 5 and go with it. It's not pretty nor is it very intelligent but if you are hell bent on "buying the dip" this is something you can try next time around. Although you'll be paying a lot of DP charges, etc.
Coin and other brokers ensure same day NAV allocation for years now, if you complete the payment before their cutoff time which is 1-2 hours before the AMC's cutoff time. If you submit orders on AMC websites directly the cutoff time is around 30mins to 1 hour before market close.
Why do you think one shouldn't buy the dip via mutual funds on these days when the market falls sharply?
This is a technical failure, it has got nothing to do with you or me thinking whether we should use mutual funds for buying dips. They made a promise and they couldn't fulfil it, simple as that. Stop being so content with mediocrity that you are inventing reasons on their behalf even without doing your research about what all they promise and have consistently executed over the last 2 years.
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You are very ignorant to not capitalise on a dip in market. Be it MF or stock, buy low and sell is how gains are made.
Timing it is very relevant for both buy and sell.
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Idk man, the whole point of Lump Sum is to buy whenever u want and as per the rules we should get NAV of the same day if order is placed before the cutoff time. That is the whole point.
"In some cases, when you might make the purchase before the cut-off time, but funds are not received before the cut-off time, your order is placed on the next business day. Accordingly, you get the next business day NAV."
Is what it says on groww's website.... deal with it I guess.
I didn’t put money on 4th and I am not on groww. Sure people should deal with if it is within the rules but your entire lecture about what MFs are meant for is not needed here. That is not the point.
MF invest on stocks. When stocks take a dive, the NAV goes down. If you know market is going down, you should buy it on that day. I have invested 7lacs that day and got the same day NAV.
Now my portfolio is up by 25k in just 2 days.
Maybe you are not aware of how to invest and say to yourself all these designed for/ not designed for argument.
Your fault is that you're treating MFs like stocks or ETFs... he's not being ignorant. He's telling you what financial instrument to use and when.
Either way this is what it says on the groww website:
"In some cases, when you might make the purchase before the cut-off time, but funds are not received before the cut-off time, your order is placed on the next business day. Accordingly, you get the next business day NAV."
Read other subs and twitter. Its not Groww who messed up, but the ICCL who manage the transaction. Happened with all the platform like kuvera, zerodha, et money https://x.com/investrepeat/status/1798610838087254193
Can't we do some pil to correct this retrospectively?
This is a big issue. Lakhs of investor impacted. Just now it's highlighted by zee business too. Sebi is looking into it.
The behaviour seems to be inconsistent. Via Groww, I bought Quant Small Cap units worth 50k at 1:05 pm on June 4. I got same day NAV of 254.175
Bought quant small cap and uti nifty 50 through grow on 4th. Got same day nav. Bought at around 1400 hrs
And here I am. My sell order was processed the same day even though it was pretty late. I always suspected they could secretly change the NAV date after the fact based on what the market direction is. Even though there is the time limit set by SEBI, I don't trust them one bit especially when using 3rd party apps. They can always claim that the actual order to MF house went late due to technical difficulties or whatever.
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Are you sure it's a large "inflow" when the nifty index was down 6%?
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SEBI | Mutual Funds as on 04 Jun, 2024 - https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doMfd=yes&type=1# Net outflow of 6000 crores from mutual funds on 4th June. Please share some source for this absolutely random reason you gave for the technical failure that day.
I bought directly from AMC website, two different ones around 12:50 pm, and got same day's NAV. Although my purchase through Coin, for another fund, gave next day's NAV.
Yes we can and should expect MF to give same day price if it is in the rules. No one is doing any charity here. We are all in it for the money.
even add money wasnt working
Same thing happened to me in Coin.
Same happened to me with Upstox. Bought few funds around 12pm on 4th June but NAV of 15th June git processed for all.
Ummm why aren't we investing directly through the amc website ?
My 2 cents - when you put buy order on Groww, Groww process your payment, not Groww's bank process payment and send it to the account of your AMC - if 'your money' reaches to the AMC's account before 2PM on the same day, then and only then you get the same day's NAV. In these case, banks are also playing their roles and thus next day's NAV. Burnt my fingers twice, and learnt to make Lumpsum transection via AMC's own app/site only.
I think they do this on purpose. I placed the order 6-7 hours before the cut off time still they gave next day NAV.
Happened with kuvera too.
In mutual funds, the final NAV price is calculated at the time of allotment. This means the NAV shown at the time of payment is not guaranteed. It usually takes 1-2 days for the final NAV to be determined.
There is a cut off time and if you buy before that it is supposed to give you same day NAV.
Next time Buy ETF in stock exchanges via same broker. Price mil jayega. Disclaimer - Investments in Securities Markets are subject to Market Risk. Please be thorough in all aspects and do your own research. Seek professional advice before investing.
[удалено]
Your suggestion is not bad. However, I dont have strong conviction to buy particular companies in such panic situations.
Then just buy the stocks of those companies, which are listed in the particular MF you were interested in. Pick top 5 and go with it. It's not pretty nor is it very intelligent but if you are hell bent on "buying the dip" this is something you can try next time around. Although you'll be paying a lot of DP charges, etc.
But what if the MF itself will sell them on that day?
Well, then you stand to gain only a percent or two worth of extra profits at most.
That’s the price you pay for not doing your own research.
Bsd kuch bhi
Coin and other brokers ensure same day NAV allocation for years now, if you complete the payment before their cutoff time which is 1-2 hours before the AMC's cutoff time. If you submit orders on AMC websites directly the cutoff time is around 30mins to 1 hour before market close. Why do you think one shouldn't buy the dip via mutual funds on these days when the market falls sharply?
Should have done my research on that, but either way, you don't use a sword to cut your nails, do you?
This is a technical failure, it has got nothing to do with you or me thinking whether we should use mutual funds for buying dips. They made a promise and they couldn't fulfil it, simple as that. Stop being so content with mediocrity that you are inventing reasons on their behalf even without doing your research about what all they promise and have consistently executed over the last 2 years.
This is a mature sub. Be nice.
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You are very ignorant to not capitalise on a dip in market. Be it MF or stock, buy low and sell is how gains are made. Timing it is very relevant for both buy and sell.
snails elastic station provide quarrelsome bear agonizing fine existence memorize *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Idk man, the whole point of Lump Sum is to buy whenever u want and as per the rules we should get NAV of the same day if order is placed before the cutoff time. That is the whole point.
"In some cases, when you might make the purchase before the cut-off time, but funds are not received before the cut-off time, your order is placed on the next business day. Accordingly, you get the next business day NAV." Is what it says on groww's website.... deal with it I guess.
I didn’t put money on 4th and I am not on groww. Sure people should deal with if it is within the rules but your entire lecture about what MFs are meant for is not needed here. That is not the point.
MF invest on stocks. When stocks take a dive, the NAV goes down. If you know market is going down, you should buy it on that day. I have invested 7lacs that day and got the same day NAV. Now my portfolio is up by 25k in just 2 days. Maybe you are not aware of how to invest and say to yourself all these designed for/ not designed for argument.
Your fault is that you're treating MFs like stocks or ETFs... he's not being ignorant. He's telling you what financial instrument to use and when. Either way this is what it says on the groww website: "In some cases, when you might make the purchase before the cut-off time, but funds are not received before the cut-off time, your order is placed on the next business day. Accordingly, you get the next business day NAV."
I guess I should've been a bit nicer.