ORO Wealth: Yet another Direct mutual fund investment portal!

It is raining direct mutual fund investment portals! First MF Utility Online platforn went live. Then we heard of Invezta, Unovest (launching soon), BharosaClub(open) and ORO Wealth (went live last week). More are in the works!!

Here are the details of ORO Wealth portal along a comparison of its features with MF Utility, Invezta and Bharosa Club.

Please note: This is provided by way of information only. I am not associated with any of these portals. My opinions about each of these portals are not biased in any way. Please do not subscribe to any portal unless you are sure it will be of use to you.

ORO Wealth operates via MF Utility. That is, a subscribers requires a valid common account number (CAN) from MF Utility. Bharosa Club also operates this way. My understanding is that both portals can get you a CAN number if you upload id proofs and courier a signed form.

Operating with a CAN enables an existing mutual fund investor to consolidate past holdings.

In response to my email, they said they went live last week and have about 500 subscribers registered.


Since it is connected to MFU, you and transact in up to 12 mutual funds in one shot.

For each such transaction, you need to pay Rs. 50.

Buying is a different transaction from selling or switching (not possible directly from MFU).

For each SIP/STP/SWP (not yet in force) a fee of Rs 25 will be charged.

According to Taqiuddin (comment below)

According to ORO
Regarding SIP transactions, the charges of Rs 25 are for a monthly SIP mandate, that is we may add multiple funds in a monthly SIP mandate. So one would be paying Rs. 25 per month even if he is investing in 6 different mf's in every transaction.

All transactions are free until 29th Feb. 2016.

Is this cheaper than Invezta where you need to pay Rs. 79 a month flat fee? Depends.

For those who wish to invest manually, two buys made on different dates will cost Rs. 100 a month. We cannot  always guarantee that we will make all transactions on the same day. For those who buy on dips, Invezta is cheaper.

ORO Wealth will soon be lauching robo-advisory services which will be have a separate fee.

They have a mutual fund screener which I dont think much of. It is quite crude. Hopefully it should improve.

Should you choose ORO Wealth?

New investors: I think Invezta is easier to get started for new investors who do not have a CAN.

If the investment size is low, once a month, with under 4 SIPS, then ORO Wealth is a bit cheaper than Invezta.

Why can't I just get a CAN and invest free via MF Utility? Why not indeed!

Old Investors: The above question makes a lot of sense to old investors too.

The only add-on wrt Invezta and ORO Wealth is the robo advisory. I cannot comment on which is better and I think it is safe to assume that they are equally good until proven otherwise.

MF Utility vs Invezta vs ORO Wealth vs Bharos Club vs Unovest!! (click to expand)


Note 1: Bharosa Club requires a Rs. 100 set up fee  "and after April 2016 will charge 0.1 % of the AUM only if it crosses a lakh"

Note 2:  I keep forgetting that one can invest in direct plans of DSP Blackrock, ICICI, Birla, PPFAS & LnT MF through MyCAMS (thanks Anil Angadi - comment below)

My take:

New investors

If you require freedom to choose any direct fund from a single portal, use Invezta.

If you dont care, invest via AMCs directly.

If you require fund suggestions then pay for robo-advisory in Invezta.

Old investors

If you require freedom to choose any direct fund from a single portal, plus consolidation of old holdings, choose MF Utility. It is free and its efficiency will limit that of the other portals which depend on it (ORO, Bharosa, Unovest?)

If you dont care, invest via AMCs directly.

If you require fund suggestions check if robo-advisory fees alone can be paid in Invezta or ORO Weath (I dont know about this). This way you get automated advisory and can invest via MF Utility or via AMCs. Of course, this applies to new investors too. My guess is that this will not be possible 🙂

If you are not certain and would like to wait and watch, invest via AMCs directly.

Please note: I have done my best to ensure the information provided above is correct. Please check with the individual portal before deciding. Will update this post as and when more details become available.

Links to Direct mutual fund portals:

MF Utility


ORO Wealth

Bharosa Club


What do you think? Will invest in such a portal?

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36 thoughts on “ORO Wealth: Yet another Direct mutual fund investment portal!

  1. Shree

    I am existing customer holding 6 funds via Bajaj Capital past 3 years...How to switch to MF Utility?

    After switched to MF Utility they charge anything after few years?

    1. freefincal

      Apply for a common account number (CAN) via CAMS or Karvy. Once you get your account, apply for online access via email. Then you will see your holdings. You can then switch to direct. or invest fresh in direct.


    Ultimate analysis Pattu ji. As you said this is the year of Direct MFs.

    Would you update the Nos of AMCs (as one of the fields/parameter) catered by these service providers ?
    Like as of now Invezta supports few (forgot the nos) AMCs only.

    1. Shashi

      Invezta is online with only 11 AMC's today. Good ones like Franklin Templeton are not there. Will have to wait and watch.

  3. taqiuddin

    According to ORO
    Regarding SIP transactions, the charges of Rs 25 are for a monthly SIP mandate, that is we may add multiple funds in a monthly SIP mandate. So one would be paying Rs. 25 per month even if he is investing in 6 different mf's in every transaction.

  4. Rakesh

    Why do you say 'Initial feedback not promising' for MFUtilities(in User Feedback row of the comparision table)? I would like to know what issues people have faced with MFU. As I had written on your blog couple in one of the blogposts that I have opened a/c with MFU after hearing so much from you(sort of pressured by you :)) but if people have faced problems in MFU, I would like to know what are they(perhaps a seperate post might be helpful incase too many things to worry abt). This will help long time investors like me before we jump into Direct funds via MFU. Maybe it will help MFU improve if someone from there is monitoring this blog.

    1. freefincal

      Nothing to be alarmed about. There has been a couple of instances of transactions that did not go though. If you follow facebook group Asan Ideas for wealth you will get more. Maybe I will start a thread there and ask for more feedback. In any case, they are bound to improve with time.

    2. Anil Angadi

      Well, In my case, they had first got my name wrong. After writing a mail to them, they corrected it in a couple of days. However, later I noticed that they have entered my bank account number wrong. (In both cases, I had given correct details, the error was from the side of MFU/CAMS/Karvy, whoever uploaded the info). I have written 2-3 mails to them, no response in past 2 weeks. Now because of that all my other folios (got a mail from Franklin) are getting updated with wrong bank account number, and are even being set as default!!

      Also, 2 of my folios are not yet mapped. Have written a mail, no response yet.

  5. Anish Mohan

    Pattu-Sir, in the comparison table, you may add one more difference. The cut off time for transaction. For MFU, it is 3 PM for equity funds and non liquid finds whereas for Invezta , it is 2 30 PM. Similarly, there is 30 mins of less time for liquid funds too. It may not matter, but may be for some, it may good if known.

  6. Venkataraman

    Hello Sir,
    How different are these from FundsIndia ? I thought FundsIndia does not charge investors money. When I invest Rs.10,000/-, all money gets invested, unlike icicidirect.com, where i get charged some money, before investing Rs.10,000/-. Please clarify.

    1. freefincal

      It is unfortunate that many people think that. Fundsindia and ICICI direct offer regular plans. Although they do not charge you a fee, the amc will remove a portion from the mutual fund NAV and give it to them as loyalty commission as long as you stay invested. This will lead to 0.5% to 1.5% lower returns for each year of investment. See this: Illustration: Direct Mutual Funds vs. Regular Mutual Funds

  7. Karan

    Dear Team Freefincal,
    In the fee comparison column you say "Buying is a different transaction from selling or switching (not possible directly from MFU)."
    While I understand that these activities will be charged separately on ORO, but does that mean that we can only Buy via MFU and not "Sell" or "Switch" since you say (not possible directly from MFU).
    Please clarify if MFU allows you to "Sell", "Switch" and "Buy" the Funds bought from it's site?

    1. freefincal

      We can buy, sell and switch (among funds from same AMC) via MFU. The same is possible via any portal that is based on MFU. Each buy, sell and switch is considered independent by ORO.

  8. Anil Angadi

    Pattu Sir, there is one more platform for investing in Direct Mutual Funds, that is through myCAMS. However as of now we can invest only in DSP Blackrock, ICICI, Birla, PPFAS & LnT MF through MyCAMS.

    And I believe there is no additional fee/charge taken from MyCAMS. Please correct me if I am wrong.

    1. Anish Mohan

      Let me try to reply to this. You can create New folios in these AMCs, but if you already have a folio which is mapped to the same email ID as that of CAMS login, you can use "Invest More" option to invest in them. The AMC list for Invest More is much higher and in fact, are the entire list of AMCs that CAMS "Serve"... For those AMCs that CAMS do NOT serve, like UTI MF, you will not be able to do so via CAMS

  9. Prasanth

    I will wait for all the portals to clearly state their charges and then choose one. We of-course can use mfutility which is free.

  10. baljit

    i do not understand anything in this. i have invested directly in few amcs by giving physical forms at cams and karvy only once, now rest everything is possible online from amc websites. consolidated statement is awailable from both cams and karvy on line within few minutes. so what added advantege we are getting from these organisations discussed in this article.
    i think, overdoing, overaction, over-reaction, excitement OR MY IGNORANCE AND SLOW UNDERSTANDING !!!!!
    please educate me sir on the basic requirement of these portals which i will get in addition.

  11. Renga

    I think invest direct through AMC's are straight forward even if you have to register with each AMC's. Its 10 mins to register anyways.

  12. Rajesh Subhankar

    The only drawback of MF Utility which I found after using for a month is the transaction completion time. If you are transacting for any mutual fund from MF Utility using "Net Banking" or "PayEzee" then it will take 1 extra day to reach your money to the respective AMC, so the units will be credited according to next day's NAV. Again like any other third party direct investment portals, MF Utility also limits the cutoff time by 10 minutes. So for 3PM cutoff time you have to transact before 2:40PM.

  13. kameswara rao

    It is only my thinking that all these portals are backed up by the AMC's and with this the expenses for the funds will increases. The same will will effect everybody. Is it not?

  14. Rohit

    Hi Pattu,

    Thanks for sharing these details but I am still not sure why so much buzz about these new direct investment portals. Almost all AMC's(ICICI PRU TRACKER, UTI, DSPBR, PPMFS through CAMS) support DIRECT SIP's/ LUMPSUM investments through their websites. If one is making all these efforts to submit data through MFU by creating CAN, it almost 0 effort to create your SIPs through fund houses that too online without a single visit to fund office (One for new investor for KYC, Existing investors can simply create login credentials and start investing). That too without a single Rupee fee unlike these new portals.
    You can always receive your total investment across board by NSDL consolidated statement received every month.

    1. freefincal

      The new is no big deal for those who are already investing directly. It is a big deal to those who want "convenience". Naturally at a cost.

  15. Abrar

    MFU transaction
    Although the money through payezz gets debited the next day(T+1), we get NAV of same day (T+0).
    Most of the complaints lodged by me in the MFU portal itself has been solved. But the portal interface is not very user friendly. Only experienced users can use it efficiently, including consolidation. Some of my folios were missing initially, I wrote to them, and it got sorted out.
    Also it is better to send them electronically filled CAN forms to minimize mistakes

  16. Kushal Sen L

    Just an info- Unovest is LIVE now. We have upload our old transaction details from Karvy and track online. Thank you for your effort 🙂

  17. Jai

    Can't understand what's all the buzz about and why we need a confusing array of portals when all AMC's allow direct investing through their websites. Granted that a different login is required for each site but then we are not making multiple transactions in a single day so what's the convenience of having a so-called single portal that keeps nicking you for fees for every little thing. My suggestion -- ditch all these MFU's, Oro's and Invetza's -- just invest directly through your chosen AMC websites, without involving these "middle-men" who are out to make a buck.

  18. Chaks

    It appears MFU is still a crude aggregation and needs lot of functional enhancements. Does any of these portal gives XIRR % returns for each investment, each fund, each folio, each fund house and overall in any view? That's basic, but MFU does not give that it seems.
    Another MUST improvement required is switching funds between AMCs. I should be able to sell Fund worth X from Fund House A and buy fund worth Y from Fund House B on a single day and just pay (Y-X) amount from my bank.
    Also, CAMS went to App, do not see any news on MFU App. Does Any of the third party have and app interface?
    Security Trust of data wise, MFU can be "theoretically" more trust-worthy with blessings and (hopefully) watch from AMCs....What about third-parties? How does they ensure my data is not getting pulled/rolled-up to the Big-Data pool?


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