DSP BlackRock announces the launch of ‘m-invest’ which will enable its investors to transact through their mobile phones
DSP BlackRock MF today announced the launch of a new facility– ‘m-invest’. The ‘m-invest’ facility allows investors to purchase and/or redeem units by sending an SMS or by calling from their mobile phone number registered with the fund. The investor has to specify the amount of purchase/redemption and the amount will be directly transferred into the registered bank account. The facility allows purchases for amounts less than Rs 1 crore and redemptions for any amount.
The facility will be available effective July 1, 2012. In order to avail of this facility the investor will have to fill in the “Registration cum Debit Mandate Form” (‘Debit Mandate’) and provide the relevant details.
Speaking at the launch, Ajit Menon, EVP and Head of Sales & Marketing, said “There is feedback from investors and financial advisors alike, for product providers to enable investors to transact in mutual funds in as easy and convenient a manner as possible. ‘m-Invest’ will allow investors with DSP BlackRock to invest in our schemes by just sending an SMS or by calling us.”
