Go Online for Mfs ; Mf Transactions Online Are Turning Cheaper and Investor-Friendly.

Business Today › October 13, 2009

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Summary

Over the past few months, several financial firms have initiated online distribution models that make it convenient for investors to invest, redeem and switch between different fund schemes. Mumbai- based iFast Financial & Abchlor Investments and Chennai-based Wealth India, for example, have launched mutual trading platforms for investors like fundsupermart.co.in, investonline.in and fundsindia.com catering to mutual fund transactions. Says iFast Financial CEO Rajesh Krishnamoorthy: "The online platform makes it cheaper for investors to transact in mutual funds.

Select banks have been offering such solutions for some time, but they restrict transactions to their net banking members only. HDFC Bank offers its net banking customers a facility to invest in various mutual funds. ICICI Bank also offers similar services through its online trading platform ICICI Direct.

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Extract

Go Online for Mfs ; Mf Transactions Online Are Turning Cheaper and Investor-Friendly.

The new online transaction sites, on the other hand, are open to members of different bank...

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