Franklin Templeton Mutual Fund has migrated its registrar and transfer agent services to CAMS.
"This was on the cards for the last 24 months. The deal was signed in March 2020 and the transition is happening now," a spokesperson of Franklin Templeton (FT) MF told Cafemutual.
The transition will happen between 8 pm on July 16 and 9 am on July 19. During this period, the fund house's service support and transaction services will remain suspended across website, mobile app and WhatsApp.
After the migration, FT MF investments will get included in the CAMS Consolidated Account Statement, which is issued by the RTA to every investor. Investors will also be able to access CAMS app and branches.
The move eases the job of MFDs too as all client information will now be available in either CAMS or KFintech.
Explaining the rationale behind the migration, the fund house said frequent technological advances and regulatory changes make outsourcing a more viable option. "It's viable to have a common RTA as the operational cost gets divided. Lots of technological and regulatory changes are happening. And every time that happens, the system has to be tweaked, leading to high expenditure," the spokesperson said.
