AMFI requests SEBI to make MF Utilities a market infrastructure institution

Good move by AMFI. Almost all MF are the members of MFU. Basic idea of formation of MFU was common transaction platform to save cost, time , smooth working, reduce multiple Folios and different transaction forms etc. But basic purpose is deafiting. Every MF are incurring lots of money in their own website, apps, stationery etc creating their own Bank Mandate etc. While MFU is proving all these facilities and features under the single umbrella across the RTA effeceintly and timely. Handling queiries in a single window. In view of above all MF should promote MFU and avoid unnecessary cost and duplications.

Yes its really smooth and easy work to all mf facility in single platform

That's a good move by AMFI. At the same time, can anybody give some insight as to what will be the impact on existing MF platforms available in the market. and how MFU will match upto the features and services provided by them.

MFU made easy to use like us who are residing out of CAMS, KARVY locations, but one thing is important that MFU should again start Individual KYC process. Thanks for MFU.

What about Stock exchange platforms ie BSE STAR & NSE MFII ?

Mfu help line not pickup call and technical team not resolved payezze cases and also not confirmed our query...or confirm through mail

It will be a good move to make MFU a single platform for transacting in all the mutual funds. Currently, though all the major fund houses participate in MFU, some AMCs like Mirae Asset and Canara Robeco remain out of its ambit. This makes it very cumbersome for the investor if he wishes to invest in these AMCs. With simple user interface and ease in use, MFU is a very convenient platform for the distributor too. Except for the fact that it supports only transactions and no reports or analytics are available, the platform gives a great user experience and also offers a few very good functionalities like Scheduled orders and saved order templates. This takes off quite a workload from the distributor. Only problem I currently face is they have removed individual KYC process from the portal. Hope they reinstate it soon. It would also be pertinent to include some reporting and analytics, atleast the basic things that the investors frequently ask for.

Very Good initiative . Need of the hour. But one thing that keeps MFU on backfoot, is non availabilty of " Inter AMC Switch " facilty.

Good move by AMFI..also it should be made mandatory for all fund house to be associated with MFU as many are yet to be associated eg. Canara Rebeco MF, Mirae Assets MF etc.. If all AMC are brought together under one roof then it will be easy for distributors to transact. Some tething problems are there but they are resolved. MFU best part is that if any changes to be incorporated it can be done under one roof. One thing needs to be done by MFU is they have to increase their helpline as most of the time its busy and it takes long time to connect. Also there are problems between MFU and RTA especially with CAMS.

MFU is providing good services to Distributors and investors but few facilities are required to be added viz., increasing SIP Registration , CASTP, DTP, Flex SIP, Flex STP, cancellation of SIP/STP, change in bank details for default bank, addition of banks, etc., and norms for all these transactions should be common for all AMC's. All AMC's should get associated with MFU. All facilities should be allowed online. MFU also should provide Portfolio Tracker facility for distributors as well as investors it will reduce the cost of distributors. Online Common Account Statement facility is also required for distributors. MFU should also provide online transaction facility through distributors website.

Highly appreciable move from AMFI to request the SEBi to Make MFU a Common platform for all amc's Rather I would say that the step is well late from AMFI as it has floated the MFU with the Aim and the same was not fulfilling as they were not thouroly behind the regulator to make it the entity which purpose what it was formed
It's Better Late then never we are happy that atleast some thoughts are also put forward we sincerly request the AMFi and SEBI to come forward and make it mandatory for All AMC's should get associated with MFU.
and should allow the data from RTA to MFU so it can offer
All facilities allowed online. some of thease can be

1) MFU also should provide Portfolio Tracker facility for distributors.
2) Online Common Account Statement facility is also required for distributors as well as investors it will reduce the cost of distributors.
3)MFU should also provide online transaction facility through distributors website.
4) a common App can be used with all different AMC's so separate app development costs can be minimised as one app with different logos of can be used
5) Single payment gateway settlement system may also cut huge charges of AMC's (N.B there has to be a provision of two alternate gateways from MFU so in case of any technical problem also the system doesn't stop.)
6) MFU can be the single window for Advisors / Distributors for the detailed transaction data of busniess done by them
7) As Cdsl and Nsdl are providing the statement to all the customers Mfu can also provide realtime data to both Distributors and Investors also.
the list may be continuing ............
but i will rest with appreciating the movement from AMFI

Once we distributor register ourself with MFU we should be automatically empanelled with All the AMC. If some AMCs do not agree to empanell registered distributor, that AMC should be out of syndicate. Distributors need not have empanell separately with all the AMCs Then only MFU will function smoothly.

MFU is really a fantastic platform , the only thing is that the POS of mfu should be adequately manpowered , there is pressure on the limited man power of mfu , and the transactions r getting delayed . the efficiency of processing at POS should be at par with the amc .

This is the worst move if implemented because we will be at mercy if AMFI which right now we are at mercy if SEBI. Why should AMFI's platform be a market institution? Just because it is promoted by AMFI? They are a lobby not who will fo anything and everything to benefit themselves and not us. SEBI and AMFI are so notorious as we saw in the SRO case. This is a bad idea we should oppose this.

Basically, MF UTILITY platform is a good option to work under single roof I instead of doing separate transactions with each AMC. It actually saves the labour and Bandwidth, perhaps we could spend our time in selling more rather than only doing admin work. Would be more glad if all the major AMC also join the platform since dealing individually with non participating AMC become teadiouus job. Moreover, MF UTILITY platform should maintain TAT for resolution of querries raised and RTA like CAMS should be competent enough to serve the quality services and mistakes should be avoided in creating Investor portfolio.

mfu now go head as nov 2015 i am saying that mfu bcome future of mutual fund industry and play lead role in future in cafe mutual fund,
now v conratulation mfu team and amfi team which approach to sebi to demand for market infrastructure insiti. which mean all kind of payment and operatioin and may pe possible one central sofware may also introduce for distributor and investor which can see complete portfolio of across all mutual fund,
now may be posibble in future no need to share data with multiple sofware service provider and mfu own provide sofware to manage and analysis and one view performance of all investment for distributor and investor,

1. I have noticed serious problem with MF Utility. It doesn't have a SEBI Regn no so Investor can't complian about wrong execution of trade to SEBI.
2. My CAN Mode of Investing is Either or Survivor but MF Utility wrongly made all investment in JOINT names resulting in lot of inconvinience and losses.
3. On my complaint to MF Util, it acccepted the mistake but said it can't do anything as Platform has bugs. Refused to give in writing the issues.
4. Have stopped all trading through MF Utility now.