MF Utility for Distributors / RIAs
MF Utility (MFU) is an innovative initiative from the Mutual Fund Industry which offers convenience to Distributors / RIAs of Mutual Fund schemes. MFU facilitates the distributors / RIAs with online access to submit investor transactions thereby improving the service capability of distributors / RIAs by providing efficiency in handling transactions at their back office with substantial cost savings and also a potential for extended internal cut-offs.
MFU provides a 24x7 universal online access across Mutual Funds with improved visibility to distributors / RIAs with regard to the subscription and redemption requests of their investors, improved MIS and access to validated information and content.
MFU facilitates the investors of the Distributors / RIAs with a Common Account Number (CAN) which enables them to transact in multiple schemes of various Mutual Funds participating in MFU through a single transaction and consolidated payment. This reduces the duplicity of efforts for the investors or distributors / RIAs themselves as they essentially advise the clients to diversify their investments across Mutual Fund schemes.