BSE Star MF and NSE NMF II have been attracting distributors by waiving off the registration fees completely for mutual fund advisors.
While BSE Star MF has announced that it will hold an event to carry out spot registration of distributors at various locations in Mumbai, NSE NMF II has extended its fee waiver period until December 2018.
In an email communication, BSE Star MF has confirmed that the company will hold a spot registration campaign for IFAs on November 30 at Thane and Borivali. BSE Star MF will hold these events between 10 am and 5 pm at the offices of Reliance Mutual Fund, Thane and ICICI Prudential Mutual Fund, Borivali.
Distributors will have to carry copies of their PAN card, Aadhaar card and ARN. Currently, BSE Star MF charges Rs.2,000 excluding GST as one-time registration fee. Last month, BSE had conducted a spot registration campaign for IFAs at Ghatkopar and Borivali.
Similarly, NSE NMF II has extended its fee waiver period for distributors from September 30 to December 31. In an email communication to distributors, the company said, “As we are celebrating 25th successful year at NSE, we are extending this offer for one more quarter for our valued partners like you.”
Transaction platforms offer variety of services such as allocation and transfer of funds, reconciliation of fund, maintaining CMS, transaction reporting, e-mandate and so on. Simply put, a platform can do a lot of operational work of AMCs and registrar and transfer agents apart from uploading transaction feeds and executing transaction. These platforms claim that they help AMCs save on cost and time.
