V Ramesh, MD and CEO of MF Utilities (MFU) has allowed me to quote him that “there are no plans to sell MF Utility”. This puts to rest (at least for now) the speculation on this matter.
On Aug 13th 2016, I had quoted a TOI article that carried a quote from the chairman AMFI that “various proposals have been made” with BSE Star reported as one interested party.
This must come as a relief to current MFU investors and the direct plan portals that operate via MFU.
So if you have not got an MFU account worried about this development, now would be a good time to apply online For an MF Utility Account and switch to direct mutual fund plans.
You can consult the MF Utility Portal User Guide: Updated Second Edition for instructions. Thanks to Anish Mohan for both posts.
In a recent post on 13 Ways to Invest in Direct Mutual Funds and counting, I had recommended using MFU directly or a robo advisory portal independent of MFU (more suited for new investors). In spite of this development, I stick to that stand. One can anyway pay for the robo advise and invest independently.
Please join me in thanking Ramesh for his clarification.
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