MF Utility has introduced two new features – Create and Schedule Transaction (CaST) and Create and Retain Transaction (CaRT) – for their investors and distributors to manage cash flows with a single click.
While CaST allows distributors placing a future dated order for their clients, CaRT enables them to schedule a redemption date, which may help meet payment liabilities like EMI and insurance premium.
In a press release, MF Utility said, “In CaST, the orders so created will be automatically executed on the scheduled date. Like in case of a TransactEezz order, on the date of execution, the investors will receive an SMS and email seeking their confirmation with options for completing the payment, in case of purchase transaction. This feature will help in better managing the future cash flow situations. CaST removes this hassle and one can create the transaction the moment it is known and schedule it to be executed on a future date. Purchase, Redemption and Switch transactions are supported under this feature. CaST facility is also available for investors.”
Elaborating on CaRT, the press release goes on to say: “Similarly, CaRT may help if there is a planned cash out flow (payments like EMI, rent, premium etc.) on a future date, a redemption transaction can be scheduled to be executed on an appropriate date. There is no restriction on the number of CaRT orders and each order can be named for easy identification later. The saved CaRT orders can be retrieved from the CaST & CaRT Order Book and executed whenever with or without modification. CaRT is currently rolled out for Investors and an enhanced version of this feature will be rolled out for distributors very soon.”.
MF Utilities claims that transactions of over Rs7.26 lakh crore was made through their platform last fiscal. As on March 2017, the total AUM under MFU is over Rs57,000 crore, which is 5 times the AUM in March 2016. About 35% of CAN holders are first time investors in mutual fund, the company said.