Samco Mutual Fund has joined as shareholder on MF utilities. This will enable MF Utilities (MFU) to provide convenient transactions options to Distributors / RIAs for SAMCO MF starting from today (January 18, '22), it said in a press statement.
MFU is known to equip distributors / RIAs with online access to submit investor transactions, hence boosting distributors / RIAs' service capabilities by enabling online transactions placement. MFU already boasts of as much as 3.10 trillion AUs and a turnover of 2.27 lakh crore as of December 2021, the statement added.
Ganesh Ram, MD & CEO of MF Utilities said, "We are quite excited to have Samco with us as one of the equity shareholders and we believe with their impressive performance record and unique investing methodology will bring good value for investors.
“MFU is on the growth path with 7.84 L CANs opening and a 2.27 lakh Crore turnover. We are looking forward to having an increase in the 35,815 MFDs/IFAs that are already empanelled with us. With SAMCO on board, we are certain to grow in the coming months as 98 percent of the transactions are already digital and the country is fast adopting the digital mode for financial transactions. We are continuously upgrading and bettering our reach, both for local and global clients and want to provide the best of MFs and their offerings to the industry. As of December 2021, MFU processed 15.36L NCTs and we are expecting to see a much higher increase this year as well.”
