MF Utility Online Facility for Investors

Published: January 30, 2015 at 7:28 am

Last Updated on

Thanks to Narendra Bhongale, there is now clarity on when investors can invest online in MF Utility after getting the common account number (CAN) . He was kind enough to attach the response from the MFU team in his comment to yesterday’s post. It is reproduced as is, below.

~~~~~~~~~~~~~~~

Dear Sir,

We thank you for writing to us.

Please be informed that the transaction facility using a Common Transaction Form (CTF) will be available from 4th March 2015. This Common Account Number (CAN) allotted, will enable you to transact in multiple schemes of various Mutual Funds participating in MFU by submitting the physical CTF to your distributor / MFU Point of service (POS) location post 4th March 2015.

Online transactions for investors will be initiated in Phase II which will be 4-6 months post launch of Phase I. Log-in id will be issued prior to the commencement of online transactions.

For any further clarification/ information, please feel free to call us 022 39526363 or write to us at clientservices {AT} mfuindia.com.

Thanks & Best Regards,

Team MFU
MF Utilities India Pvt. Ltd.
103-105, 1st Floor Orion Business Park,
Ghodbunder Road, Kapurbawdi,
Thane (West) – 400 607.
Ph. 022 – 395 26363

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This means one cannot get a consolidated view of holdings until Phase II is initiated.

While this is disappointing, I don’t think  this will affect existing direct plan investors much.

Suggest you apply for CAN now, when you can spare the time. Let the login facility arrive when it does.

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About the Author M Pattabiraman author of freefincal.comM. Pattabiraman(PhD) is the author and owner of freefincal.com.  He is an associate professor at the Indian Institute of Technology, Madras since Aug 2006. Pattu” as he is popularly known, has co-authored two print-books, You can be rich too with goal based investing (CNBC TV18) and Gamechanger and seven other free e-books on various topics of money management.  He is a patron and co-founder of “Fee-only India” an organisation to promote unbiased, commission-free investment advice. Pattu publishes unbiased, promotion-free research, analysis and holistic money management advice. Freefincal serves more than one million readers a year (2.5 million page views) with numbers based analysis on topical issues and has more than a 100 free calculators on different aspects of insurance and investment analysis. He conducts free money management sessions for corporates  and associations(see details below). Previous engagements include World Bank, RBI, BHEL, Asian Paints, TamilNadu Investors Association etc. Contact information: freefincal {at} Gmail {dot} com (sponsored posts or paid collaborations will not be entertained)
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8 Comments

  1. Yep. I have downloaded the form and i think i haven’t seen such long form for any AMC so far. Also it has to be submitted physically and so Online is not actually an Online just like quantum amc.
    Well, What about the questions we arises earlier. Dear, are there any confirmation arrive on expense ratio or charges going to be occured on this platform?

    Thanks
    Jig

  2. Yep. I have downloaded the form and i think i haven’t seen such long form for any AMC so far. Also it has to be submitted physically and so Online is not actually an Online just like quantum amc.
    Well, What about the questions we arises earlier. Dear, are there any confirmation arrive on expense ratio or charges going to be occured on this platform?

    Thanks
    Jig

  3. Hi Pattu, can the folios held with distributors like fundsindia also be moved into this platform? If yes, will these be converted into “direct” category? Thanks.

  4. Hi Pattu, can the folios held with distributors like fundsindia also be moved into this platform? If yes, will these be converted into “direct” category? Thanks.

  5. I am a new visitor to this blog.

    Please let me know if the utility is similar to funds india or similar palt form.

    Thanks in advance.

  6. I am a new visitor to this blog.

    Please let me know if the utility is similar to funds india or similar palt form.

    Thanks in advance.

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