Portals of mutual fund registrars offer a host of convenient features which can be utilized by clients as well as distributors.
Tired of answering clients constant questions about their latest valuation, account statements, lost dividend cheque, transaction status, etc.?
Websites of registrar and transfer agents provide a host of services to distributors and their clients at the click of a button. While distributors have been using R&T websites to get mail back and other services your clients perhaps may not be so familiar with the facilities provided on such portals.
In fact, your clients can register on any R & T web site to use a host of services like accessing portfolio, Consolidated Account Statement (Karvy + CAMS + FTAMIL + SBFS).
In this article we explore the websites of leading R&T agents CAMS, Karvy and Sundaram BNP Paribas Fund Service which service almost the entire industry. Here are some of the useful features which you and your clients can utilize:
CAMS
CAMS services 17 fund houses.
NAV Subscription: As the name suggests, distributors and investors can subscribe to NAVs of the funds serviced by CAMS. This subscription ends at the end of six months after which you have to subscribe again.
eNFO: This is perhaps the most convenient way to execute NFO transactions. Distributors simply have to register and key in investors and fund details through CAMS website. Distributors can initiate transaction both for their existing and new clients. Once you select the fund house and key in the folio number all details will be auto populated from the existing folio. After the transaction is confirmed CAMS will send an email to the registered email id of your client after which they have to make the funds transfer.
Click here to know more about this facility.
myCAMS: After finishing the registration process clients can view capital gains statement, Consolidated Account Statement(CAS), redeem, switch, consolidate folios, update mobile number etc. Click here to read the user guide.
SMS: One can get the latest valuation, transaction status, NAVs and much more by simply sending an SMS to 56767. For instance, to get latest value of transactions, SMS as CAMS <Mutual_Fund_Code> VAL <folio number> to 56767. Click here to read the user guide.
Karvymfs
Karvy services 24 fund houses.
Once
registration is done clients can view the portfolio details of all funds
serviced by Karvy. One has to add the fund house, folio number and PIN number to
activate this service. Earlier, investors had to wait till they got their PIN
at their registered address which turned out to be a time consuming process.
Now this PIN is sent instantly to your email id. To get the PIN you will need
the folio number of the scheme. Once can add all the schemes which are serviced
by Karvy and get a consolidated view of the portfolio.
In addition to this, clients can place a host of service requests like addition of joint holder, error in the name of the unit holder, change of order of holding, mis-placed / lost dividends / redemption warrants, change of minority status of unit holder, change of name, appointment of nominee, etc. The website provides the necessary forms required for each of these requests which clients have to fill up and send to Karvy.
Mailback:
In addition to CAS, Karvy also provides a facility through which clients can get a summary of all their holdings by simply entering their email id. Karvy will send an email with an attachment which will provide a summary of all your clients holdings which are registered with that particular email id with the fund house. One can open this attachment with a password chosen by the user. Apart from getting account statement through email id, one can also get CAS by providing PAN, folio, and by capital gains.
SMS access: Launched recently by Karvy, this is one of the simplest ways to get instant information on cell phones. To utilize this service one has to make sure that the cell number is registered with all the folios. No separate registration is required. By simply sending an SMS or a missed call to 09212993399 one can instantly get an SMS within a few seconds which will show the balance value of all funds serviced by Karvy. Additionally, one can check balance in a specific folio, get branch address, total value of all funds, transaction status, etc. Click here to read the user guide.
Sundaram BNP Paribas Fund Services
A more recent entrant, it services two fund houses – BNP Paribas Mutual Fund and Sundaram Mutual Fund.
Similar to CAMS and Karvy, Sundaram Paribas Fund Services also provides standard features like account statement, NAV updates, generating SMS alerts, etc on its portal. The R&T also facilities investments in new fund offers in the funds serviced by it. Clients can also use SIP, STP and SWP calculators, post queries, grievances, check KYC status, etc. through the portal.
