Frequently Asked Questions

Distributor / RIA FAQs

  • How does MF Utility benefit a Distributor / RIA?

    MF Utility (MFU) provides a whole lot of benefits to the Distributors / RIAs like:

    • Multiple methods of transaction submission
    • 24x7 transaction submission convenience from their own office
    • Single point for Time-stamping of transactions
    • Single point for document submission
    • Paperless transaction facility called TransactEezz
    • Provide login facility for their clients
    • Single point for requesting information
    • Eliminate duplication of processes/documentation
    • Consolidated view of customer investments across the industry
    • Consolidated MIS across the industry
  • What are the charges the Distributor / RIA has to pay?

    MFU is a free of cost facility for the Distributors / RIAs signing-up with MFU.

  • How does a Distributor / RIA gain access to MF Utility?

    Distributor / RIA may sign-up online by submitting the data and images online or physically by submitting duly filled-in and signed form to MFU Office. Click here to know more about the options. Upon successful registration, MFUI will provide login access to the Distributor / RIA.

  • What is the infrastructure required for a Distributor / RIA to sign-up with MFU?

    Distributors / RIAs who do not intend to submit the transactions on behalf of their investors through MFU, but only wish to have access to the processed information may only require login access to the system through internet.

    Distributors / RIAs who wish to submit the transactions along with scanning of the forms of their customers will need to have the following infrastructure:-

    • A Desktop / Laptop
    • Internet access
    • Scanner
    • Printer
  • How will the existing folios/investments be migrated/linked to MF Utility?

    MF Utility (MFU) will not migrate the existing investments of the investors. However, upon creation of a Common Account Number (CAN), MFU will map the existing folios of the investor/s across Mutual Funds, to the CAN, based on the PAN and the holding pattern.

  • What would be the brokerage for transactions submitted through MF Utility?

    Transactions submitted through MF Utility (MFU) are forwarded to the respective AMC or its RTA for processing. There is no change in applicability of brokerage or its processing.

  • Will MF Utility provide a facility for Distributors / RIAs to link their existing Online Transaction Portals?

    MF Utility will facilitate Distributors / RIAs already having “Online Transaction Submission” capabilities to integrate their Portal to MFU Portal. Distributors / RIAs seeking such facility may contact MF Utilities India Pvt Ltd on the details provided on the contact page

  • Will there be a Demo organized for Distributors / RIAs on MF Utility?

    MF Utility (MFU) will provide Demo videos and User Manuals online, the access to which will be available to Distributors / RIAs upon registration with MFU.

  • How does a Distributor / RIA know the CANs created for his customers after the CAN registration forms are submitted to a POS?

    Through MFU login, the Distributor / RIA can search the CAN by providing the customer’s PAN in the CAN search options available in the MFU transaction screens.

  • Is MFU going to provide centralized empanelment facility for all participating AMCs?

    Empanelment has to be completed separately with respective AMCs. MFU does not facilitate the same.

  • Can I as a Distributor/RIA fill up a CAN form on behalf of my client?

    Yes you can fill up a CAN form on behalf of your client. You can download the form from our website under the forms section and fill it up. Please click here to download the CAN Registration Form. For your Individual clients, you may also use the eCAN option, which enables you to submit the CAN Registration request online. Click here to know more about the eCAN Options.

  • Can a Distributor / RIA write his ARN / RIA code in the CAN Registration form?

    A Distributor / RIA may write/mention the ARN / RIA code in the CAN Registration form. However, MFU does not tag the ARN / RIA code.

  • How would a Distributor / RIA have access to the multiple folio numbers (in a particular fund house) of an investor who has not dealt with the said Distributor / RIA before? In such case shouldn’t MFU generate a new folio automatically?

    For reasons of confidentiality, MFU does not list investor folios to any Distributor / RIA even if the investor would have transacted through the Distributor / RIA in a specific folio. If a folio is not mentioned, MFU system is capable of considering the transaction into the last transacted folio of the customer. Therefore, there is no necessity to generate a new folio.

  • How can a Distributor / RIA generate account statements for his clients through MFU portal?

    Generation of account statements through MFU Portal will be available at a later phase. Once made available, the Distributors will be able to generate account statements on their own for transactions routed through their ARN Code. If a full account statement of the customer is required, the Distributor / RIA will be facilitated to request for the same and the statement will be emailed to the customers email ID registered under the CAN.

  • Can a Distributor / RIA create a transaction on behalf of the clients?

    Distributors / RIAs can create transactions on behalf of their clients through the TransactEezz menu available through their login access. Upon submission by the Distributor / RIA, MFU will seek an electronic approval from the client by way of an SMS and/or email. The transaction is time-stamped upon approval from the client.

  • What kind of transactions can be created through TransactEezz?

    A Distributor / RIA can initiate transactions like Purchase, Redemption, Switch, SIP Registration (If PayEezz is already registered), STP Registration and SWP Registration.

  • How many transactions can be created in One-Go through TransactEezz?

    A Distributor / RIA can create up to 20 transactions for a single transaction type.

  • How are the payments made by investors for purchase transactions created through TransactEezz facility?

    Investors will have multiple choices for making the payments for purchase transactions. The choice of payment should be chosen at the time of transaction creation. The available options of payment are Net Banking, PayEezz.

    Net Banking: For Net Banking Payments, the investors will be redirected to their Net Banking site for payment.

    PayEezz: Payments through PayEezz will be handled by MFU based on the PayEezz Reference Number (PRN) chosen for payment.

    For more details on PayEezz, please click here.

  • Should the Distributor / RIA or his clients register separately for the TransactEezz facility?

    There is no separate registration required for investors or Distributors / RIAs for using the TransactEezz facility. All signed up Distributors / RIAs with a login access can utilise this facility for the clients who have opened a CAN.

  • Can a Distributor / RIA provide login access to his clients through MFU?

    Yes. The Distributors / RIAs can provide login access to their clients who have a CAN.

  • Should the investor input the Distributor’s ARN while transacting using the login provided by the Distributor?

    Not necessary. When the investor logs in using the Login provided by the Distributor, the ARN code of the Distributor who has provided the login access to the client will automatically be hard-coded in the transaction.

  • Can the same investor have multiple logins provided by different Distributors / RIAs ?

    Yes. A CAN holder can request for login IDs through different Distributors / RIAs. As long as the investor logs in using the login ID provided by the specific Distributor, the ARN code of the specific distributor will be hard-coded in the transactions done by the investor using the login.

  • What is a CaRT?New

    Create and Retain Transaction (CART) is a facility where frequently ordered transactions can be created and retained as a template to be executed later whenever desired by a SINGLE CLICK. Every such CaRT template can be identified by an exclusive CaRT Name.

    • If some funds are expected to be available for investment on a future date, a purchase transaction can be added to the CaRT to be placed later using this facility.
    • If there is a future cash out flow, a redemption transaction can be added to the CaRT to be placed later using this facility.

    Please click here for more details on CaRT.

  • What is CaST?

    Create and Schedule Transaction (CaST) is a facility where a Distributor / RIA can create and schedule a transaction to be executed on a defined future date to better manage future cash flow situations for their clients. For e.g.

    • If some funds are expected by the client to be available for investment on a future date, a purchase transaction can be scheduled to be executed on an appropriate date to utilise those funds using this facility.
    • If there is a planned cash out flow (payments like EMI, rent, premium etc.) by a client on a future date, a redemption transaction can be scheduled to be executed on an appropriate date.

    Please click here for more details on CaST.

  • What is a CaSTplus?New

    CaSTplus is an enhanced version of CaST where a transaction can be created and scheduled to be executed repeatedly on defined future dates/frequency.

  • How confidential is the data submitted through MF Utility?

    No transaction data will be stored in MFU for beyond a certain period. Besides, MFU infrastructure has multi-layered security features with state-of-the-art security appliances which are thoroughly tested through independent security testing agencies. In addition, MFU will only act as a “Transaction Aggregation Portal” which will accept and forward the transactions to the respective AMC/RTA.

  • Why Validation /Verification and declaration of Email and Mobile?

    As per SEBI Circular SEBI/HO/IMD/IMD-I DOF5/P/CIR/2021/634 dated October 4, 2021 and based on AMFI Best Practice Guidelines issued on 28th March 2022 outlining the standardization of process for validation of Contact details i.e., Email Id and Mobile Number with effect from 1st May 2022 needs to be done.

  • Why is Validation /Verification and declaration of Email and Mobile Important?

    As per SEBI & AMFI directive, contact details need to be validated and verified for each folio level. At MFU this Validation/Verification and declaration can be done at CAN level which will be applicable for all folios mapped and any new folio which is getting created.

  • Whether the transactions in existing folios will continue?

    Yes, it will continue even the Validation/Verification and declaration is not done. However, AMFI has recommended to complete this activity for such folios progressively.

  • Whether the Validation /Verification and declaration of Email and Mobile to be done separately?

    Yes, this needs to be done separately.

  • Who all are required to complete the verification/validation and declaration?

    This is applicable to the email id and mobile number of Individuals including minor and Sole-Proprietor.

  • What will happen to Non-Resident Tax status?

    2In case of NRIs having overseas mobile number, they need to provide declaration w.r.t. mobile number. However, Email id needs to be Verified/Validated and declaration to be submitted.

  • What happens if change of contact details is given after validation/verification and declaration?

    Once the change is updated in CAN, the previous validation/verification and declaration stands reset. The process of validation/verification and declaration will have to be re-done.

  • How can we track the validation/verification and declaration for a CAN?

    To know status, check the CAN history from the CAN Tracker in your Login.