Karvy and CAMS have started providing feeds of direct plans to SEBI registered investment advisers.
“We have enabled a registration based and investor consent based data feed sharing with RIAs through our portal,” said a note issued by Karvy.
“Many RIAs don’t know that we are providing this service and hence we are sending direct mailers to them to start using our portal to get direct feeds,” said a Karvy spokesperson.
Here’s how RIAs need to register with R&Ts. After submitting the RIA registration form, R&Ts will share the login credentials with the RIA. In order to get investors data, RIAs are required to provide the investor consent letter with folio details to R&Ts.
Based on the investor consent letter, R&Ts will tag the folio with the RIA code and RIAs will start getting transaction feeds as mail back services.
Currently, there are around 450 RIAs registered with SEBI.
