MFCentral – 1 place to Track & Transact in all Mutual Funds
How to track bilateral funds in one place continues to be one of the top reads on the Unovest Blog. If you have been with Unovest since a few years, you may remember the app that unliable you to do that and presented some simple, superstitious reports.
Sad, we had to discontinue it. One of the reasons was the proliferation of so many new bilateral fund platforms that did the same thing and some, in fact, better.
Interestingly, in the year 2021, one increasingly platform came up with a far increasingly seamless experience.
This is MFCentral.com – a joint initiative by the 2 bilateral fund registrars – CAMS and KFintech.
What’s variegated well-nigh MFCentral.com?
The biggest one is that there is no need to upload any PDF statements or Excel/CSV files.
Since MFCentral is run by both the registrars, they once have all the information well-nigh your investments made in the bilateral funds serviced by them.
As soon as you create your worth and login, it uses the PAN to bring up all the investments in your name (demat and non demat) and show them to you instantly.
It feels awesome!
Remember, if PAN is not mapped to the folio, it will not show up.
What else can be washed-up on MFCentral.com?
Well, MFCentral really pushes the envelope by taking a whole host of services digital.
Want to update a nominee in your bilateral fund folio?
Want to update contact details?
Consolidate your folios?
You can do it online without paperwork.
Some of the services may need spare but minimal documentation.
Who can create worth on MFCentral.com?
Currently, only Resident individuals with a registered mobile number in their existing fund investments can create a MFCentral.com account.
In other words, corporates and Non Residents cannot wangle MFCentral.com. As per the website, they will be unliable at a later date.
What kind of reports can I view on MFCentral?
- Portfolio Summary Report with wool gain/loss. (Annualised return full-length is not available)
- Capital Gain/Loss Report
- Transactions Report
- Asset Allocation (based on SEBI/AMFI categorisation – doesn’t reflect true allocations)
Can I moreover buy or sell on MFCentral.com?
Yes, as on June 24, 2002, all transactions (except STP and SWP for now) are misogynist on MFCentral.
For SIPs, you can create one time mandates too. Surprisingly, the system needs a variegated mandate for CAMS and KFintech each for their respectively serviced funds. A little bummer.
How do I create an worth on MFCentral?
Go to www.mfcentral.com and click on SignUp at the top right corner. See image below.
Enter the PAN and registered mobile number/email to create your account.
If you don’t have a registered mobile number with your bilateral fund investments, you cannot create an account.
This was a unenduring overview of MFCentral. I suggest that you go and create your account and explore it further.
The biggest goody of MFCentral is that you can track your bilateral fund investments in one place.
The cherry on top is the other services you can use in digital mode.
I hope that platform goes remoter to wilt a full fledged option for investors to track, invest and manage their investments.
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