ICICI Prudential MF and IDFC MF have come out with facilities to make mutual fund transactions easier and smoother.
Fund houses are getting innovative in providing greater ease in transacting in mutual funds. Two fund houses – ICICI Prudential and IDFC have recently come out with such facilities that will help investors easily execute transactions across MF schemes.
While ICICI Prudential Mutual Fund has introduced an online transaction facility through its mobile application called IPRU Touch, IDFC Mutual Fund is offering a top-up facility under SIP.
The IPRU Touch application enable distributors to execute transactions on behalf of their clients. However, they need to make their investors to give a one-time mandate form to use this facility.
Distributors can download this application on their smart phone through the Apple or Google Play Store. This application also provides financial planning tools, market news, expert views and product information.
In a press release issued by the company, Nimesh Shah, MD and CEO, ICICI Prudential Mutual Fund said, “We live in a wired world today. With technology touching the lives of many, digital space from being an alternate channel will transform to be the main channel and future of content sharing and transacting. Against this backdrop, ICICI Prudential Asset Management Company brings to financial advisors - IPRU Touch, a virtual platform created exclusively for financial advisors to address their pre-sales requirements in terms of information that could help them serve investors better. With the new feature of Transaction Facility in IPRU Touch, investing in Mutual Funds can much more convenient for financial advisors as well as the investors.”
Similarly, IDFC has started offering a top-up facility through which a new investor has an option to increase the SIP installment amount by a fixed amount at pre-defined intervals. Investors have to opt for this facility at the time of SIP registration. However, investors have to opt this facility for minimum of six months. Existing SIP’s cannot be converted into this facility.
