What we look at
Overlap
How much the schemes actually duplicate each other at the holding level. This is the most common finding, and the easiest to fix.
Category drift
Whether a fund still does what it did when you bought it. Mandates and fund managers change; portfolios often do not.
Allocation against goal
Equity for a two-year need, or a deposit for a twenty-year one. Both are common, and both are expensive in different ways.
Cost
Expense ratios, and whether regular-plan commissions are being paid for advice that is not being received.
Performance, properly measured
Against the scheme’s own benchmark and category over meaningful periods — not against last year’s best performer.
Tax position
Holding periods per instalment, and what a correction would cost before it is made.
The findings that come up most often
- Too many schemes. Fourteen funds is not a diversified portfolio; it is an unmanaged one.
- Everything in one category. Usually mid and small cap, bought after a strong run.
- No debt allocation at all, even where money is needed within three years.
- Dividend option held by a taxpayer in a higher slab, where a growth option would have been more efficient.
- A SIP running into a scheme that has changed mandate since it was started.
- Nothing wrong at all. This happens, and it is a legitimate outcome of a review.
The tax cost of correcting
A portfolio can be genuinely badly constructed and still not be worth fixing immediately. Each switch is a redemption, and gains are taxable — short-term at a higher rate. Where a large correction would trigger a significant liability, staggering it across financial years, or simply redirecting future instalments rather than moving existing capital, is often the better route.
We calculate that cost before recommending anything. The framework is set out in how mutual fund gains are taxed. Confirm your own position with a qualified tax adviser.
How the review runs
Share the holdings
A consolidated account statement from CAMS or the depository is enough. No logins, no passwords.
A call about purpose
What each pot of money is for, and when it is needed. Without this, a review is only a performance table.
A written summary
Overlap, allocation, cost, tax position, and a short list of what we would change and why — including what we would leave alone.
A walkthrough
A call to go through it. You decide what, if anything, to act on.
Transferring an existing folio
If you decide to consolidate your holdings under one distributor, existing folios can be transferred without redeeming them — so no tax event, and holding periods are preserved. Units stay exactly where they are; only the servicing changes. Schemes bought directly cannot be brought under distributor servicing, and we will tell you which of your holdings fall into that category.
What this service is, and is not
We are an AMFI registered mutual fund distributor, ARN 129145. A review is an assessment of scheme construction, allocation and cost against your stated goals. It is not investment advice under the SEBI Investment Adviser regulations, not tax or legal advice, and not a forecast of returns. Mutual fund investments are subject to market risks — read all scheme related documents carefully.
Common questions
What does a portfolio review cover?
Scheme-level holdings, overlap between them, category and market-cap exposure, cost, performance against the right benchmark rather than against other schemes, and whether the allocation matches the goal and horizon you actually have.
Do I have to move my investments to you?
No. A review is a review. If the portfolio is sound, the honest answer is to leave it alone, and we will say so.
What is scheme overlap?
Two schemes holding largely the same underlying stocks. An investor with eight funds often has the diversification of three, with eight times the paperwork. Overlap is measured, not guessed.
Will correcting the portfolio cost me tax?
Possibly. Every switch or redemption is a taxable event, and short-holding units may attract a higher rate. We calculate the tax cost of a correction before recommending it, because sometimes the cost exceeds the benefit.
How long does a review take?
One call to collect the holdings and understand the goals, then a written summary within a few working days, then a second call to walk through it.
Can NRIs get a review?
Yes, by video call. The additional considerations for non-residents are covered on the NRI investment page.
How many schemes should a portfolio hold?
There is no correct number, but most individual portfolios are served by four to six schemes across categories. Beyond about eight, additional schemes usually add overlap rather than diversification.
Want your existing portfolio reviewed?
A 30-minute call, online or at the Surat office. No obligation, and nothing is executed on the call.