Page 20 - Banking Finance December 2023

MUTUAL FUND

from the Securities and Exchange On Children's Day, HDFC tual Fund. Comparing the physical form
Board of India (SEBI), the upper limit to the plan, investors can invest in gold
for transaction fees for Cat-I EOPs has Mutual Fund captures the with ease and freedom of trading,
been capped at Rs 2 per transaction," unbreakable bond. much like in a typical mutual fund
the association said in the guideline. HDFC Mutual Fund launches a touch- scheme.
AMCs have the option to pay back the ing advertisement to commemorate Due to its minimal connection with
platform's payment gateway costs in Children's Day that captures the spirit equity and debt, gold is a perfect
addition to the transaction fee. In or- of the enduring relationship between supplement to a normal equity-heavy
der to promote competition, AMCs parents and children. A movie show- portfolio. Anil Ghelani, CFA, Head of
may also decide to award new EOP casing the campaign compares the Passive Investments & Products, DSP
idea of Systematic Investment Plans Mutual Fund, says, "The scheme struc-
participants with an extra 50 paise
(SIP) to the long-lasting trust between ture presents a convenient way to di-
every transaction.
parents and their children. versify your portfolio and systemati-
Platforms marketing direct money cally accumulate gold, automatically
The film emphasizes the nurturing el-
market schemes have two alternatives adding depth and multi-dimensionality
ement and long-term commitment by
available to them: register with AMFI to your investments."
skillfully illustrating how a parent's re-
(under EOP Cat-I) or with exchanges
lationship with their child reflects the
(under EOP Cat-II), according to sepa- SEBI gives Unifi Capital the
constancy and dependability of a SIP.
rate regulations released by SEBI in
With this endearing story, HDFC Mu- go-ahead in principle to
June.
tual Fund hopes to arouse feelings and
Platforms may decide to charge inves- emphasize the value of financial pre- begin mutual fund opera-
tors under EOP-II. Stockbrokers do not paredness for life's significant events. tions.
need to register for the EOP if they The capital markets regulator SEBI has
In an effort to inspire viewers to start
exclusively provide MF investment ser- a financially secure journey, the ad given the portfolio management com-
vices to their broking clients. debuts the hashtag #ZindagiKeLiyeSIP. pany Unifi Capital its preliminary clear-
The platforms in question now have This hashtag embodies the campaign's ance to establish a mutual fund house.
much-needed clarity regarding trans- main idea, which is to use SIPs as a The company submitted an application
action fees in advance of the deadline vehicle to invest in loved ones' future for a mutual fund licence to the Secu-
rities and Exchange Board of India
of November 30th to select between and well-being in addition to financial (SEBI) in December 2020.
the two options. objectives.
We will be able to reach a bigger and
The larger firms, many of whom have With its ongoing effort to encourage deeper audience with our mutual fund,
been running their platforms under a people to plan for their making our financial products available
stockbroking licence, might not be per- #ZindagiKeLiyeSIP, HDFC Mutual Fund to a wider range of investors for the
is demonstrating its dedication to
suaded to register with AMFI by the first time.
building meaningful relationships and
transaction fees, though.
ensuring a better future for families. Our staff is most excited about the
According to a top executive, Groww, chance to establish ourselves as excep-
the biggest direct mutual fund invest- DSP Gold ETF Fund of tional performers, which is what we
ment platform and stockbroker, will will continue to stand for with inves-
keep its current setup and has no im- Fund is introduced by DSP tors, rather than just having bigger

mediate intentions to start charging Mutual Fund assets." Unifi Capital's founder, Sarath
clients. Reddy, stated in a statement.
The DSP Gold ETF Fund of Fund, an
FYERS, a company that provides MFs open-ended fund of fund scheme that According to the announcement, Unifi
in addition to stockbroking, intends to invests in the DSP Gold Exchange was given the go-ahead to start work-
keep running its MF platform under the Traded Fund (ETF), was launched, ac- ing on its mutual fund by SEBI earlier
stockbroking license. cording to a statement from DSP Mu- this week.

18 | 2023 | DECEMBER | BANKING FINANCE