The front end investment portal will provide ease of investing in all mutual funds at one place
Mumbai: The much awaited MF Utility, a front-end transaction portal will be operational from the first week of April 2012. The portal will be available for investors and distributors and is expected to bring cost effectiveness and efficiency in transaction processing. The portal will be run on a 'not for profit' model, said an industry official. There will be some transaction charges for executing orders on this portal.
The decision came at the 16th AGM of AMFI held on September 28 in Mumbai. The meeting was attended by 33 AMCs in the presence of SEBI chairman U K Sinha and Executive Director, SEBI. K Ravindran.
Besides, AMFI’s new advertising campaign ‘Saving Ka Ek Naya Tareeka’ has attracted close to 20,000 inquiries from people within a span of eight days from the launch of the campaign.
H N Sinor, CEO, AMFI said that AMFI is planning to create a group of respected independent individuals to look into the grievances of investors and take quick remedial measures.
Harshendu Bindal, President of Franklin Templeton AMC and Suresh Soni, CEO of Deutsche AMC have joined the Board as the new Directors.
