Today in Investment market every one is coming with Online Transaction Platform, Like- PayTm, Grow, ETmoney, Every AMC with online app/portal.
So it very important to know which platform and why, you have to choose
MFU- Mutual Fund Utility
MF Utilities India Pvt Ltd (MFUI) is the Mutual Fund Industry’s “Shared Services” initiative formed by the Asset Management Companies (AMCs) of SEBI registered Mutual Funds under the aegis of AMFI, with an objective of investor empowerment, distributor / RIA convenience, consolidation of information to various agencies, operational efficiency for RTAs and benefits to AMCs, thereby benefitting all stakeholders in the industry. The prime objective of MFUI is to consolidate all “Transaction Requests” received by the industry from multiple sources and transmit it to the “Fulfiller” of the request (Transfer Agent), thereby bringing in operational efficiency by reducing multiplicity and duplication of activities. Towards achieving this objective, MFUI has developed the Portal, MF Utility (MFU), which operates as a “Transaction Aggregating System” for transactions in Mutual Funds.
MF Utility (MFU) is an innovative initiative of the Indian Mutual Fund Industry that brings significant benefits to all stakeholders, i.e. Investors, Distributors, RIAs and Asset Management Companies, by leveraging technology, MFU will bring many conveniences to the investors and distributors /RIAs and allow Mutual Funds to significantly enhance their reach and presence in the country to further the goals of retail penetration. MFU will also help remove duplicities in the system and reduce the inherent risks in the industry.
MFUI is equally owned by the AMCs of SEBI registered Mutual Funds in India.
Benefits of MFU vs Other Platforms
|MFU- MF Utility||Private Player|
|1- Not Chargeable||Chargeable/Partially Chargeable|
|2- Life Time Free||Short time free for attract customers|
|3- Owned by AMC/SEBI||Owned by private company/person|
|4- Not to be close||May be close at any time|
|5- View all your portfolio of all AMC||Only view folio of investment from his portal|
|6- Transact all folio at industries||Very limited option|
|7- Easy to enroll||Depend on others source etc|
Therefor my personal recommendation to don’t go with Private Players, As they have personal interest and they may be charged after certain time, which will give you panic situation in between of your investment.
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