MF Utility in the Press

Economic Times

Investor's guide: Dhirender Kumar explains MF Utility

In a chat with ET Now, Dhirender Kumar, CEO of the Value Research explains how investors can use MF Utilities for the purpose of investment.

Business Standard

Easier Fatca reporting for MF investors

... Investors under this ambit may now update details with one or more of the four registrar & transfer agents (RTAs) or simply through MF Utility, a centralised distribution platform. Until now, investors had to download the Fatca declaration form from the websites of individual fund houses and then present it to the office of the fund house or any of its point of sales or online. ...

Live Mint

MF Utilities starts online platform (For Distributors)

... For distributors like Mumbai-based Viral Bhatt, this facility helps save time. “Earlier, I had to go to the Registrar and Transfer Agent’s (R&T agent) office to drop off the forms. But now I can initiate the transaction online and my client also makes the payment online. It’s completely paperless,” he said. ...

DNA Money

Distributors are staying away due to misconceptions: CEO MF Utilities

... There is a misconception that using a single click we will transfer the AUM to direct mode. They don't realise that if the customer wants to do it without the MFU platform too there is a single form using which he can convert the entire AUM to direct. They need to understand that we are not a direct selling platform. ...

Business Standard

MF investors may number fewer than you think

... A recent exercise in allocating common account numbers (CANs) to investors with multiple folios has thrown up interesting results. A total of 90,000 folios processed revealed only 15,000 unique PAN numbers, according to data from MF Utilities (MFU), a common sector platform. This suggests, on average, every individual investor has at least six folios. . ...

Value Research

MF Utilities is a Beginning & Better than Nothing

... By and large, access to funds has dropped sharply outside the big cities. Even though SEBI has given a large financial incentive to AMCs to establish their reach beyond the big cities, progress has been slow and spotty. MF Utilities could change this. . ...

The Economic Times

Aggregation will make investing in Mutual Funds simpler

... The advantage for the retail investor is that he will have to remember only one number for all his fund investments. And he will not have to start a new folio each time he wants to invest with a new fund house. Every folio number contains a customer's bank details. ...

Value Research

Simplifying mutual fund investing

... MF Utilities is not a platform; it is only a system that aggregates. A platform provides decision-making information, such as performance of mutual funds, their ratings, comparison of funds, etc., to the investors and distributors signed up with it. MF Utilities doesn’t provide any such information. Its pure motive is aggregation; it does not provide investing information. ...

Hindu BusinessLine

Common account to pave way for simpler MF accessibility, transaction

... BusinessLine had the opportunity of registering for CAN, a couple of weeks back and the process is fast and investor friendly. A four-page application form takes not more than 10 minutes to fill up and captures the applicant details such as name, address, PAN, telephone/ mobile numbers/ e-mail ID, besides bank account number and nominee details. ...

Hindu BusinessLine

There’s a lot of inertia about transacting online

... The MFU combines all these separate investor identities in a unified Common Account Number (CAN). Removing all the extra paperwork makes life easier not only for investors, says V Ramesh, MD and CEO of MF Utilities, but also helps the industry indirectly by encouraging more interest in mutual funds. ...

Business Standard

Direct plans will benefit over the long term

... In the coming months, the Association of Mutual Funds in India's long-awaited centralised distribution platform, MF Utility, might help address this. The platform will do away with the need of separate login IDs and passwords for different fund houses. Single-cheque payments for multiple transactions will also be possible. ...

Business Standard

New transaction platform set to boost NFOs' reach

... “Now, NFOs are launched only in a few cities that are connected by the banking channel to ensure timely allocation of units to investors. MF Utility will not only connect with all distributors, but also with various banks, which would help ensure faster allocation of units,” said V Ramesh, chief executive officer, MF Utility India. ...

Business Standard

Amfi launches MF Utility online portal

... “MF Utility will help develop the sector in smaller towns, besides providing convenience and efficiency to all stakeholders,” Sinha said. ...

The Financial Express

Sebi launches MF utility portal

The much awaited MF Utility (MFU) an transaction aggregating portal was launched by Securities and Exchange Board of India (Sebi) Chairman, UK Sinha on Wednesday. The platform will facilitate the investors with a Common Account Number (CAN) which will enable them to transact in multiple schemes of various fund houses participating in MFU through a single transaction and consolidated payment. ...

The Telegraph

Prop for MF investor

... Investors who want to use the facility will have to open a common account number, which will serve as the unique identifying number for all mutual fund investments. Investors will not have to submit forms or cheques to buy mutual fund units. They will have to submit a single transaction form and make the payment in one transaction. ...

BusinessLine

AMFI launches all-in-one portal

The Association of Mutual Funds in India has launched a portal www.mfuindia.com (MF Utility India) that will allow investors to buy schemes of fund houses using a single application and paying money through a single payment. ...

Cafe Mutual

SEBI chief to inaugurate MF Utility on January 21

... “The system will go live from March 1. Around 2,600 distributors have joined us so far,” said V Ramesh, Managing Director & Chief Executive Officer, MF Utilities India. MF Utility will be launched in two phases – first phase for distributors and the second for investors. ...

Financial Chronicle

B15 cities overtake top 15 cities in terms of MF folios

... The main objective of the MF Utility is to act as a transaction aggregator, thereby bringing in operational efficiency and convenience. The first phase of the portal will be operational from March 4, 2015...