MF Platform to Be Introduced By NSE
All the prime mutual fund houses, which also include the UTI Mutual Fund, are eager to be part of the recent mutual fund service system belonging to National Stock Exchange. Reports have come through that the new MFSS or the mutual fund service system is to be officially launched on Monday.
The first to control the mutual fund platform launched by NSE, which enables the members of the exchange to make use of the present infrastructure to make transactions in the mutual fund schemes, is to be UTI Mutual Fund.
It is reported that the UTI will initially list all its debt and equity schemes in about 30 numbers, and it is a significant fact that all the mutual fund houses are waiting to be a part of the platform.
It has been reported that by the end of the month of October, the UTI MF had an average asset of about Rs. 76,847 crore under management and the MFSS is to substitute the currently used mutual fund scheme that was introduced in the year 2000. Approval was also granted for the facilitation of transactions in the mutual fund schemes through the infrastructure of the stock exchange.
