Page 16 - Banking Fiannce March 2018

MUTUAL FUND

MUTUAL FUND

NEWS
NEWS
NEWS
NEWS
NEWS

Mutual fund investors Digital expansion for Mirae Asset Mutual Fund

not happy with dynamic To expand its digital presence, Mirae tem. With the increased volume and
Asset Mutual Fund is looking for dis- adoption, the cost of participation has
bond funds
tributors a seamless transaction path also come down considerably. All our
Debt mutual fund investors are dis- and it has aldo tied up with MF Utility. distributors can now make use of the
appointed variety of transaction
Mirae Asset D.I.T (Dis-
by the lower submission options,
returns gen- tributor Initiated and other conve-
erated by Transaction) is niences offered by
their invest- launched for all finan- MFU"
ments in dy- cial and non-financial
namic bond funds over the last one transactions submis- Mr. V Ramesh Man-
year, say mutual fund advisors. Most sion through MFU ei- aging Director & CEO
investors were expecting double- ther electronically or of MF Utility, welcom-
digit returns from these funds. Dy- physically through the authorized ing the addition of Mirae Asset Mutual
namic bond funds are typically rec- Points of Service ("POS") of MFUI. Fund said "We thank all the Distribu-
ommended to investors who do not Mr. Swarup Mohanty, CEO, Mirae As- tors and Investors who are using the
know or want to take a call on inter- set Global Investments (India) Pvt. Ltd. MFU System for making it happen. We
est rate movements. Fund managers commented "It is our endeavor to pro- are seeing exponential growth in open-
in these schemes have the freedom vide multiple avenues for our partners ing of Common Account Number (CAN)
to change the portfolio in line with and investors to invest in a seamless and use MFU System to submit trans-
market movements.
manner. In continuation of the same, actions without any hassle.
Dynamic bond funds offered lower we are happy to tie up with MF utility It is heartening to see that the growth
returns as most fund managers were for providing a pleasant investment ex- is seen without any advertisement or
sitting on long duration securities perience. In the recent time, there marketing initiatives. The users are
when interest rates spiked up surpris- isn't a single day when I had to answer our ambassadors. We will continue to
ingly. Most dynamic bond funds gen- a question from either Investor or Dis-
erated double-digit annual returns in tributor as to why Mirae Asset is not roll out more features and facilities
the year 2016. Maximum return was there on MFU System. that will make MFU even more conve-
16.86 per cent and the lowest was nient for everyone." Speaking about
7.27 per cent. Mutual fund advisors We are happy to note that the Inves- the transaction volumes, he added
believe that dynamic bond funds are tors and Distributors are recognizing that "over Rs. 3.50 lakh crore worth of
likely to perform badly in the coming the benefits offered and are finding Mutual Fund transactions are being put
days. MFU as an easy and convenient sys- through MFU every month."

16 | 2018 | MARCH | BANKING FINANCE