The Association of Mutual Funds in India is contemplating creation of two platforms for online mutual fund transactions in the country by March next year, its Chairman A P Kurian said.
The move has come after a committee, comprising mutual fund houses and AMFI members, recommended the creation of two separate platforms to trade MF products, Kurian said.
"The committee has recommended the creation of two online platforms for mutual fund transactions...The whole idea of the two platforms is to have maximum reach and attract maximum investors...(however) we have not finalised anything yet," Kurian said.
The association is yet to work out the modalities of the new initiatives including the cost factor, Kurian said.
"There are misconceptions like the trading through these platforms will be free and this is to avoid brokers.
Wednesday, November 11, 2009
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