Published Article Details

How to schedule future transactions in mutual funds

Posted by: Girija Gadre on Jul 31, 2017, 06.30 AM IST

Investors prefer to invest on a particular date when they envisage a cash flow or redeem funds around a date an expense is planned.

Instead of carrying out the transaction on the date of cash flow or expense, it is now possible to set up the transaction in advance online.

Using the Common Account Number (CAN) allotted by MF utilities, an investor can create and schedule future mutual fund transactions such as purchase, redemption and switch.

CAN
Investors should have a Common Account Number or CAN issued by MF Utilities, which is a common number across mutual fund schemes across participating fund houses. One can apply for a CAN by filling up a form or applying on https://www.mfuindia.com/eCANFormFill

Online portal
Once the investor is allotted the CAN, he can obtain online access to his investments on a single platform at https://www. mfuonline.com. A username and password is assigned to the investor to access the online platform where he can view investments as well as carry out transactions.

Place order
An investor can request future transactions by using the CaST (Create and Schedule Transaction) feature. For a purchase transaction using CaST, the investor should go to the CAN transaction tab/purchase section and fill up details such as AMC name, broker details, fund name, option name, amount to be invested and mode of investing. Once details are filled, the investor should click on the CaST button to schedule the future order.

On the transaction date
Once the CaST order is created, an SMS and email is sent to the investor to make the necessary payment (for purchase) on the scheduled transaction date. Once the payment is completed, the CaST transaction is processed on the same day.

Points to note

* This facility can currently schedule orders up to 90 days in advance.

*This facility is also available to distributors to schedule their client transactions.


(The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.) This article appeared in Economic Times dated Jul 31, 2017, 06.30 AM IST

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