Tata Mutual Fund has made it mandatory for all its employees to open a common application number (CAN) with MF Utilities (MFU), said a press release issued by the company.
MF Utility allots a CAN to each investor which can be used to invest in schemes across fund houses.
In a press release, R Ganesh, CEO and MD, Tata MF said, "MF Utility is a breakthrough in the mutual fund industry designed to make investing in mutual funds simpler. Trust, innovation and customer centricity are intrinsic to the Tata culture. We look forward to strengthening our relationship with the customer by focussing on three D's (Develop. Deliver. Delight.) for every customer.”
“To show our support to this initiative, we have made it mandatory for all our employees to enrol for the 'CAN'. This does not involve any commitment from our employees other than applying for the CAN. Being one of the promoters, we wish MFU success and hope customers experience the benefits of the initiative," he further adds.
MFU allows investors to get a single view of all their mutual fund investments, single payment for multiple transactions, centralized complaint redressal and single point communication in case of changes in details.
"MFU, being an industry initiated project under the aegis of AMFI, I am happy that Tata Mutual Fund has internalized MFU and asked all its employees to open a CAN. As the saying goes, 'Proof of the pudding is in eating'. Therefore, employees need to taste CAN and MFU and that would really set things rolling. Once the employees open their own CAN, it becomes easier for them to tell distributors to open a 'CAN' for their investors and derive the convenience that it offers,” said V Ramesh, MD & CEO of MF Utilities India in a press release.
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