MF Utility (MFU) provides a whole lot of features to Investors like:-

• Common Account Number (CAN) – a single reference for all the Mutual Fund investments
• KYC Registration facility, through KRAs – for the purpose of CAN creation
• Neutral Points of Service (POS) – irrespective of the RTA servicing the Mutual Fund
• Common Transaction Form to transact in multiple schemes at a time, across Mutual Funds
• Single payment facility for investments in multiple schemes across Mutual Funds, using a single form
• Multiple modes of payments for investments through physical and electronic means
• Consolidated view of investments across the industry using CAN
• Industry level alerts, triggers, reminders etc. for transactions, SIP expiry etc.
• Centralized complaint management and tracking system to login complaints across the industry

Investors will have to get themselves a Common Account Number (CAN) by submitting the CAN Registration Form (CRF) at any of the nearest Point of Service (POS) of MF Utilities India Pvt Ltd (MFUI) or a Distributor / RIA signed-up with MFUI or a participating AMC Branch.

Where an investor wants to have a change in the combination, a new CAN will be created. Common Account Number (CAN) is provided for a combination comprising of the following:-

• Number of Investors i.e. 1 or 2 or 3
• Order of holding i.e. A; A&B; A,B&C; B; B&A; B,C&A; C; C&B; C,A&B; and so on
• Mode of holding i.e. Single, Joint and Anyone or Survivor
• Social (Tax) Status i.e. Individual, Company, Non-Resident etc.

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, holding pattern and certain other parameters as mentioned earlier.

CAN-Folio mapping is a technical exercise which happens without any manual intervention. Upon successful creation of a CAN, MFU Server makes an electronic request to all the RTA servers to find out whether there are any folios which are matching the CAN criteria. Based on the RTAs response, the folios are mapped to the CAN.

There are 3 different RTAs in the MF industry in India and each of them may have different kind of technology, software and processes in place. Therefore, the folio mapping from different RTAs happen at different times. We normally wait for 2-3 days from the time of CAN approval, for the Folio mapping process to be completed.

Ideally, all the folios matching the CAN criteria should automatically get mapped to the CAN. However, either due to some technical reasons or some data mismatch between the CAN & Folio, the CAN-Folio mapping may fail in certain instances. In such cases, if the investor writes to MFU the MFU team will do the needful.

After 3 days from the time of CAN approval, an email is sent to the investor with the list of folios mapped to the CAN with a request to notify the unmapped folios, if any. If the investor writes to MFU with the folio numbers which are not mapped, the MFU team coordinates with the RTA for getting the folios mapped to the CAN.

Investor can submit changes to Bank Mandate and other details in CAN to MFU POS, and such requests will be appropriately processed in MFU and will be updated in all related folios. Thus change of CAN level details, such as Bank Mandate, Nominees, etc., submitted through MFU will reflect in all mapped folios with different AMCs and there is no need for submission of such requests separately with different AMCs.

MFU will not enable standalone KYC Registrations like a KRA. However, MF Utility (MFU) will facilitate KYC Registration for Investors along with creation of CAN, i.e., it will facilitate submission of KYC documents to KRA for KYC registration.

KYC compliance is compulsory for CAN creation. If an investor is not already KYC compliant, MF Utility (MFU) will facilitate KYC registration for investors along with creation of CAN.

Investors should submit a CAN Registration form to get a CAN created. All the investors in the CAN form should be KYC compliant. If an investor is not already KYC compliant, MF Utility (MFU) will facilitate KYC registration for investors who wish to create a CAN.

Common Account Number (CAN) provides a lot of benefits/facilities to the investors and Distributors / RIAs. Without availability of a CAN, these benefits/facilities will not be available.

Ideally CAN will be a single reference number for all your investments/transactions across the Mutual Fund industry. However, if an investor has multiple folios for the same combination, within the same Mutual Fund, the folio number under which the transaction is required to be processed should also be quoted while transacting.

CAN is not transferable. In case of eventualities like demise of one or more holders in the CAN, the surviving holders have to request for transmission with MF Utilities India Pvt Ltd (MFUI) who shall do the needful.

You can transact by submitting a physical MFU transaction form through any Mutual Fund Distributor / RIA having a valid ARN /RIA Code or at a MFU Point of Service (POS). You can get the transaction forms at www.mfuindia.com/forms

Yes, you can transact online using our online portal.

If you are a holder or guardian in an approved Individual CAN or Karta of a HUF CAN, click here to setup your credentials for online access.

Investors will have multiple choices for making the payments for purchase transactions submitted using a physical transaction form. The possible modes of payment are PayEezz.

PayEezz: Investors have to specify the PayEezz Reference Number (PRN) received from MFU upon successful registration of the PayEezz Mandate as the payment reference number in the transaction form. Payments through PayEezz will be handled by MFU based on the PRN mentioned by the investors.

For more details on PayEezz, please click here.

Yes. You can mention the ARN code of your Distributor / RIA for choosing Regular plans.

You will be able to transact across all the CANs where you are the primary holder or guardian of the primary holder. If you are a second or third holder in any CAN, you will only be able to view the details under those respective CANs.

Investors have multiple options for making the payments for purchase transactions submitted online. The possible modes of payment are Net Banking, PayEezz.

NEFT/ RTGS: You will need to add the beneficiary details of YES BANK for making NEFT / RTGS payments. For more details on NEFT / RTGS Click here.

UPI: Please enter your Virtual Payment Address (VPA) i.e UPI ID (eg - xyz@upi) and click on make payment, you will receive a collect request on your UPI enabled app. Authorize and complete the payment. The upper limit per UPI transaction is Rs.2 Lakh per account per day and may vary from Bank to Bank and PSP (UPI App) to PSP.

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 PRN chosen by the investors.

For more details on PayEezz, please click here.

At present, you will be able to submit transactions, view your orders submitted, account profile and unit balances across your investments. You can also lodge complaints and track redressals. More features will be made available in future.

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.

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 e.g.

• If some funds are expected 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.) 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.

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

Investors may submit the CAN Registration and Transaction forms to their Distributors / RIAs. If the Distributor / RIA is signed-up with MF Utility (MFU) for online access, he may scan and submit the transaction in MFU. Else, he may submit the transactions at an MFU POS or redirect you to a nearest MFU POS.

Yes. The Bank details and nominee details provided in the CAN Registration form will override the existing details in the folios. However, if you do not wish to override the nominee details already existing in the folios, please tick the option ‘I DO NOT WISH TO NOMINATE’ in the nominee section of the CAN Registration form.

No need to change. You can register different bank accounts under the CAN without getting the details changed in the folio. Upon successful CAN opening, the bank accounts registered under the CAN will get over-written in the folios. While submitting the redemption transaction, you can choose either the default bank account under the CAN or mention any other bank account registered under the CAN as your choice for payout.

If you select “I do not wish to nominate” in the CAN Registration Form, your existing nominations in the existing folios will continue to remain as it is.

Upon CAN opening, MFU will map all your existing folios matching the CAN combination. When MFU provides access to Investors, they will be able to track their existing investments using the CAN.

CAN opening is a simple process. Upon submitting a duly filled CAN registration form to an MFU POS, the CAN is opened instantly.

Ideally a cancelled cheque leaf which has the primary applicant’s name printed on it, should be submitted as a proof of bank account. The applicant may also submit a copy of the cheque, self-attesting the same.

Switching between one AMC to another AMC is not possible.

NRI investors are required to submit all documents as similar to Resident investors. All documents detailed in the instruction of the CAN form should be submitted for CAN creation.

Currently, you will continue to get the statements from the each AMC/RTA. MFU will start providing the consolidated account statements shortly.

You will have to fill up a CAN Registration Form and submit the same along with necessary documents to an MFU POS or a Distributor / RIA.

You can download the form from our website www.mfuindia.com under the forms section. Please click here to download the CAN Registration Form. If you are an Individual Investor, you may also use the eCAN options to submit the CAN Registration request online. Click here to know about the eCAN options.

Please click here for instructions to fill the eCAN form Online.

Yes. The changes updated by you in the KRA will get updated in the CAN and the folios mapped with the CAN.

Yes. MFU will send your cancellation requests to the respective AMCs to cancel the SIPs registered in that AMC.

No.

Yes. The process to be followed is as below:

• Fill up a REMAT Request Form (RRF) signed by all account holders and submit the same to your Depository Participant (DP).
• Your DP will verify the details on the RRF and send it to the Issuer / RTA.
• The Issuer / RTA will verify the request and confirm the same to Depository.
• Depository will debit the securities in the account to the extent of quantity rematerialized.
• Issuer/ RTA issues units in Account Statement form to the Investors.
• Upon your confirmation about REMAT of units, MFU will map your folios to the CAN.

Yes. You need to register your Depository (DEMAT) Account in CAN. During the transaction, you can request for crediting the units in the Depository (DEMAT) Account. MFU will send the instructions along with the transaction and the AMC/RTA will credit the units to your Depository (DEMAT) Account.

Yes. You can subscribe to Direct Plans through MFU and get the units credited to your Depository (DEMAT) Account. Once credited to your Depository (DEMAT) Account, the units can be redeemed only through your Depository Participant.

CAN is nothing but a COMMON FOLIO applicable for all participating AMCs. Therefore, just like in folio, CAN will continue to provide all modes of transactions for investors. Quoting CAN, investors can transact in DIRECT plans or in REGULAR plans.

The redemption/dividend payments from the Mutual Funds will continue to be paid as they are currently done.

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.

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.

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.

Yes, this needs to be done separately.

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

In 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.

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.

MFU BOX provides portfolio analysis based on Consolidated Account Statement (CAS) as received and uploaded. The MFU BOX also provides information on Mutual Fund scheme performance.

No, Investors can access MFU BOX with the existing login credentials.

No. Currently it is available in browser application.

No. For Transaction(s), Investors need to use MFU Online portal.

Queries/ Feedback can be reported via CenCoM by selecting “MFU BOX Related” under Query and Feedback.

To generate meaningful data and reports, MFU requires total transactions including corporate actions of investors whether done through MFU or outside. Given that MFU doesn’t have visibility on certain transactions, CAS is to be uploaded.

For generating month end portfolio, to track Asset class wise AUM and Month to Month AUM growth, monthly CAS need to be uploaded.

Yes, investors can see both realised/unrealised gain/loss.

The CAS - CAMS+KFINTECH need to be generated only from CAMS website. Upon registering the request, the CAS will be delivered through email.

The CAS statement upload date and details will be displayed on the Upload section.

Yes, CAS can be reupload after deleting all the previously uploaded CAS.

No.

MFUBOX is compatible with all the major browsers – Microsoft EDGE, Google Chrome and Firefox etc.

In case of any discrepancy or issue please contact respective RTAs.

Yes, you can register Guardian (Parent / Legal) Bank account as the only account OR in addition to the bank account of Minor or Joint Account of the Minor with the Guardian (Parent or legal) in Minor CAN.

Please refer below table for better understanding:

Yes, you can transfer funds from Guardian (Parent / Legal) bank account in minor CAN. Please refer below table for better understanding:

No. Basis SEBI Circular, in case of outflow (redemption, SRP, SWP) from Minor CAN, Minor bank account or Joint account of the minor with the Guardian (parent or legal) as registered in CAN should be opted else order is liable to be rejected at RTA. MFU will NOT be responsible for such rejection.