- High Networth Individuals generally investor through advisors who offer various services including portfolio analysis and reports
- Retail investors can now maintain their MF portfolio at one place
- Retail investors can now use “Transaction Aggregation Portal”
A majority of the High Networth Individuals (HNIs) invest through an advisor and these advisors offer a variety of services which include portfolio reports and portfolio analysis to their clients. The investors do not have to maintain a special log to track their mutual fund transactions.
Additionally, in case the investors needs any information, the advisor is always a call away.
However, when we talk about the retail investors, one of the most common issues they face is to maintain their mutual fund portfolio at one place and that is where MF Utility (MFU) offers a solution.
MF Utility was formally launched in January 2015 however many of the new retail investors are not aware of the platform. MFU is an innovative “Shared Services” initiative by the mutual fund industry under the aegis of the Association of Mutual Funds in India (AMFI), which acts as a “Transaction Aggregation Portal”.
MFU allow the Mutual Fund customer to transact via a common transaction form and also enables single payment for multiple scheme investments across various mutual funds.
Additionally, It also shows the current total value of your mutual fund investments list of schemes, the current value of each fund, the number of units held, and scheme folio number across participating AMCs (Asset Management Companies).
Having said this, the MFU does not calculate the returns which are generated by your mutual fund investments, also it does not show the purchase price of your investments. However, so far, it is one of the best ways to view all your mutual fund transactions at a single place, minimising the chances of missing even a single transaction.
As of today, MFU has 39 mutual fund houses under its domain and MF Utility is equally owned by the participating AMCs.
MF Utility also enables transactions like purchases, redemptions and switches to be made. It also allows registering systematic transactions which includes Systematic Investment Plans (SIPs) using a PayEezz Mandate, Systematic Withdrawal Plans (SWPs) and Systematic Transfer Plans (STPs).
MU Utility also acts as a facilitator of the non-commercial transactions which include bank account changes, facilitating the change of address through KRAs and more based on a duly signed written request from the investors.
MF investors can access MFU on their desktop as well as through their mobile phones using the mobile application.