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A mutual fund is a pool of money managed by a professional Fund Manager.
It is a trust that collects money from a number of investors who share a common investment objective and invests the same in equities, bonds, money market instruments and/or other securities. And the income / gains generated from this collective investment is distributed proportionately amongst the investors after deducting applicable expenses and levies, by calculating a scheme’s “Net Asset Value” or NAV. Simply put, the money pooled in by a large number of investors is what makes up a Mutual Fund.
Now the buying and selling of mutual fund have become easier for investors.
An investor who wishes to subscribe or redeem units of a mutual fund scheme can now use Mutual Fund Service System (MFSS) provided by NSE.
This service has been launched on November 30, 2009 at the hands of Mr C B Bhave, Chairman, Securities Exchange Board of India (SEBI), on November 30, 2009.
Mutual Fund Service System (MFSS) is an online order collection system provided by NSE to its eligible members for placing subscription or redemption orders on the MFSS based on orders received from the investors.
The MFSS will be available for Participants between 9 a.m. to 3 p.m.
The NSE MFSS shall facilitate entry of both buy and sell orders. In order to subscribe units, member will be required to place buy orders. A member who wishes to redeem units of mutual fund scheme will be required to place sell orders in the system. Participants can choose between Physical mode and depository mode while putting their subscription / redemption requests on the MFSS. All orders shall be settled on order to order basis, on T+1 (working days).
Individuals, HUF and Body Corporate can participate in MFSS subject to completing the KYC procedure. In case of a minor the guardian would have to be KYC compliant.
We are a general insurance company. Now, before those words conjure images of beige walls and bleak souls in your head, let us tell you we are vibrant and vivacious, and were founded to break that drab mould you were about to cast us in.
