Page 16 - Banking Finance July 2019

MUTUAL FUND

HDFC Mutual Fund increases 2.14% stake in TV Today
FundzBazar launches
Network
'Selfiewala KYC' feature
Through open market transaction, HDFC Mutual Fund has increased its holding
FundzBazar, an online mutual fund
in media firm TV Today Network by 2.14% stake.
i n v e s t -
ment plat- Schemes of HDFC Mutual fund, which earlier held
form, has 5% stake in TV Today Network, bought 12.78 lakh
a n - shares, amounting to 2.14% shareholding in the
nounced company, as per a regulatory filing by the MF house.
its new
Based on weighted average price of the stock at Rs
f e a t u r e
254.66 per share, the transaction is estimated to be valued at Rs 32.55 crore.
called 'Selfiewala KYC' for first-time
Post transaction, HDFC Mutual Fund’s stake in TV Today Network now stands at
mutual fund investors. The main ad-
7.14%.
vantage of the feature is hassle-free
and investors can complete their KYC
Segregated portfolio of DHFL securities creation ap-
process from the comfort of their
home or office using mobile or laptop proved by Tata Mutual Fund
in just a few minutes. The creation of segregated portfolio of securities of DHFL held by captioned
"The special thing about this feature schemes has received approval from Trustees of Tata
is that it allows investors to do their Mutual Fund effective from the expiry of mandatory
IPV (In-Person Verification) them- load free exit period of 30 days.
selves by uploading a video and a The mutual funds have received the allowance from
selfie. This feature will speed up the
SEBI vide circular dated December 28, 2018 to cre-
KYC process and save time," said an
ate segregated portfolio of debt and money market
official of FundzBazar.
instruments if a credit event subject to certain conditions.
To complete their KYC, investors have
30 days' load free exit period has been provided by Tata Mutual Fund investors
to follow these five simple steps: Up-
in order to redeem from the schemes.
load and enter Proof of Address,
All investors in the captioned schemes as on the day of creation of segregated
Date of Birth; upload PAN Card; take
portfolio shall be allotted equal number of units in the segregated portfolio as
and upload a clear video of face,
held in the main portfolio of the respective schemes:
speak the name and show address
It will be dispersed to the investors in proportion to their holding in the
proof; take and upload clear selfie;
segregated portfolio, based upon the recovery of money from the segre-
download signature declaration
gated portfolio, whether partial or full.
form, sign it and upload it.
The listing of units of segregated portfolio will be enabled by AMC on the
Currently, this feature is available on
recognized stock exchange within 10 working days of creation of segregated
website and FundzBazar Android
portfolio. It will also enable transfer of such units on receipt of transfer re-
Mobile App. Since this feature is in-
quests.
tegrated with the FundzBazar ac-
count opening process, investors Meanwhile, separate NAVs of segregated and main portfolios will be en-
need to sign up and register on abled by AMC from the date of creation of segregated portfolio.
FundzBazar to avail this feature.
No subscription and redemption will be given allowance in the segregated
"This feature will help our 14000 plus portfolio of the captioned schemes, once the segregated portfolio is cre-
Prudent Partners in making their ated.
first-time mutual fund investors in-
vestment-ready by completing KYC
process effortlessly and without any
delay," added the official.

16 | 2019 | JULY | BANKING FINANCE