To import your existing portfolio to Kuvera and switch your Regular plans to Direct, we recommend these steps (the entire process is online and requires no paperwork):
You can import multiple times. It will only import new transactions since the last import. You can even set up Auto Import.
Import from FundsIndia, Scripbox, ICICI Direct etc. (non demat accounts):
- Setup an account with Kuvera and complete KYC check and bank account setup.
- After logging in, please follow the steps in the Import Portfolio tab.
- Once imported, go to the Portfolio tab. When you click on the regular fund name, you will see the switch button to switch the regular plan to the direct plan. You can also activate TradeSmart to only switch units outside the Short Term Capital Gains (STCG) tax window.
- Set Mandate amount in your profile and complete the mandate setup process. You will need an active mandate to be able to place SIP order.
- START your direct plan SIPs on Kuvera in the same folio as your current plans and then STOP your SIPs with other platforms that you had been using earlier.
Import from Demat folios (demat accounts):
Demat based folios are not supported for carrying out transactions on Kuvera. To import your MF units completely to Kuvera, you will need to:
- Sell your demat units and then buy them directly from Kuvera.
- Selling these could have tax implications, as well as the exit penalty.
- OR Ask your broker to rematerialize your folios. Then, you can import them to Kuvera following the steps in the Import Portfolio tab.
- Your broker might levy rematerialization charges.
At the very least START, your direct plan SIPs on Kuvera and STOP your SIPs with demat platforms to stop accumulating demat units.
