The Association of Mutual Fund in India (AMFI) has launched 'MF Utility' portal, a single platform for all mutual fund transactions. The portal was launched by UK Sinha, Chairman of the Securities and Exchange Board of India.
"MF Utility will help develop the sector in smaller towns, besides providing convenience and efficiency to all stakeholders," Sinha said.
MFU offers 24/7 information access including Online Common Account Statement, Composite Portfolio information, Portfolio holding and scheme related information.
It also offers value added services like alerts, reminders etc., which will allow investors to monitor and manage their investments more effectively.
The interface will not only help investors to invest across MF schemes through creation of a single account but will also benefit distributors as they can upload their transactions.
MF Utility will operate as a registrar to an issue (RTI) and will be regulated by SEBI.