Dear sir, I am totally helpless as I could not connect to customer care at all. I invest lakhs of ruppees via MFU but the bad portal and poor support strongly discouraging me to use MFU. Please employ, adequate staff in customer support. Provide portfolio, Escrow transactions details etc in the portal. I transfer cash via NEFT, how can I confirm it got transferred to my Escrow account. Its very basic and the functionality is discarded !! - Sunil

I hope all of you would have noticed that MFU has NEVER written directly to investors marketing Common Account Number. We have only written to the distributors. We have also never released any advt in newspapers for CAN. Mantra is simple. It is all through distributors.

Mr Pawan Agarwal, Thank you for writing to our office. As I understand, your issues is that after submitting the CAN of your customer, you are not getting the information. We have already initiated a system change to have this information to distributors. Development is happening. Meanwhile, I have put up a process where we will start giving a report to the distributor concerned in the registered email id on a daily basis at the end of the day details of the CAN created under that ARN. This will start by next week end, i.e. by 7th August 2015 latest. Give us feedback after that. Thanks for raising this. Hope your issue is addressed.

Mr Milind Chitnis, Customer has to have either CAN or a Folio to use MFU Forms. If there is CAN, he can use CAN Txn form and transact in multiple AMCs (including NFOs) for purchase, redemption, switch, SIP, STP and SWP. If there is folio, he can use Folio Txn form and transact in multiple schemes of an AMC for Additional Purchase, Redemption and Switch. You cannot create a folio through MFU forms without a CAN. You can submit these forms in ONE Point of Service (Karvy or CAMS) irrespective of the AMC. AMCs will accept forms ONLY if all the schemes transacted in the form is of that AMC. You can contact our office in Thane for forms. Call at 022-39526363 and ask for forms.

Mr Srikanth Kulkarni, Thank you for commenting. MFU is not a Stock Exchange. The objective of MFU is not to create multiple account numbers for investors. Objective is aggregation. Where investor transacts through a website of the distributor, the ARN code is auto populated and cannot invest direct. And CAN is nothing but a Folio. Like in a folio, investor can transact through any distributor in a CAN. Hope it is clear.

Ms Kajal Teli, Thank you for your kind words. We will do our best to make it function to the expectation. Yes, there are some teething issues. Many have been streamlined, some will be streamlined shortly. Thanks for the patience. Patient and supportive people like you will help this MFU System to become a strong useful system for all. Thanks once again.

Weve been dealing with MFU for about 5 months now. We have found many problems with MFU as below:- 1. KYC Details change cannot be done through MFU. 2. In case of a minor nominee, an applicant cannot be the guardian for some unknown reasons. 3. Stop SIP cannot be done through MFU. Other than this, we have found MFU to be pretty slow. It takes ages for folio numbers to be generated and in many cases, things are rejected quite erratically. We have been passing on this info to Monali at Mumbai office but MFU is not very responsive to these ground level issues.

Dear Mr. Ramesh, I contacted your office today by mail and got reply as well. Your office has told that for offline choice distributors, the CAN and other details access shall happen after couple of months. The same thing was told to me when I registered my firm some 3-4 months back. When I asked how would I know about client CAN, I was told to ask the client about it as MFU is directly intimating the CAN to client. These are not teething problems of a new system. These are issues which have not been dealt with planning and sensitivity. If not more, at least you can mark a copy to the ARN holder who is submitting the CAN with your office of the mail which you are sending to client communicating his CAN. I really appreciate the effort being put by your team, but you shall agree, such last mile missed connections only take the things backwards. If there are waiting periods for certain facilities, some interim solutions should be worked out.

I am little confused after reading this. Can Mr Ramesh please clarify: 1) If a customer does not have CAN no, can he still use common application form for fresh purchase or for fresh SIPs and creating folio? (One for each folio, not for multiple AMCs) 2) Again if a customer does not have CAN but wishes to make additional purchase/switch in existing folio, can he use MFU forms? I have been asking this to various AMCs but have not got clear answer. Also if common forms are indeed acceptable, then are they accepted only at R&T and not at AMC offices?? Why? Lastly where can we get common application forms in bulk in Mumbai?

SIR, Kindly make your MFU facility, which can be customized with arn holder, may be through their websites or ARN. Unless this is done whatever said would not boost the confidence. The need is let the client go direct, without taking the help of a distributor. If the distributor is creating CAN then [for a PAN] the client should not be able to go direct, later.

Dear Mr Ramesh, Very Nicely explained the features of MFU. I am registered for MFU since inception and already registered 66 nos of my investors. MFU Provides significant amount of convenience in terms of form fill up, investor master data, form submit at once place, reduction in stationary usage and a single cheque from investor. Being a new platform, i can understand there can be teething issues. I would recommend you to arrange proper training regarding complete system to POS. There are certain issues related to integration with some AMC (specifically Reliance MF) where investor data is not updated properly, SIP mandate getting cancelled, EUIN No not getting updated in some cases etc. All these issues are reported to MFU. It would be great if these issues are resolved permanently. Its a Great platform and really useful in growing our business with stated features of 2nd phase.

Mr yfs, CAN is nothing but a folio. In a Folio investor can have schemes of only one AMC in a CAN investor can have multiple AMC. That is the only difference. Once folio is opened, investor can transact through any distributor. Similarly once CAN is opened, investor can transact through any distributor. So, it is status quo. CAN is not something new that you need to fear about. Except that you need not grapple with multiple folios for your investor and need to deal with a single number for your investor. Its convenient. Try it.

Initially we didnt hv ARN code in CAN form. So we could not respond to distributor. Subsequently we introduced ARN code in CAN form so that we will be able to inform the distributor who brings the CAN form about opening of CAN. Please call our office for more information. PL DO NOT WORRY ABOUT WE PROMOTING DIRECT INVESTMENT. MFU is only an execution and transaction aggregation system. We DO NOT HAVE any marketing or sales function or interest. This is guaranteed.

Mr Agarwal, We respond to queries latest by T+1. If you have not received response for registering your company, we will check that; please provide details by email at connect@mfuindia.com and/or call our office. Since this is a new concept and to initiate investors to understand transaction forms, we send one set of forms with CAN confirmation. Besides, we recd complaints from investors & distributors that they cant get transaction forms. Therefore, we started sending one set to investors and also send forms to the distributors whenever on their request.

Mr yfs... Request you to provide your contact details or call us in our office. We will clarify all your doubts. Meanwhile, this afternoon I have forwarded your comments to my Operations team to look into it and create responses. Your statements are not ignored. Meanwhile, we would appreciate you call our office for more clarifications. I am sure you will appreciate the system and use it for convenience.

Mr. Ramesh, you may NOT be surprised to know that I registered with MFU both as an individual investor and also as distributor on the name of my firm. As a distributor, I am yet to receive any intimation from your office about how and where I can see my client CAN and investment details etc. But as an investor, I have already received a bunch of application forms without ARN code through which I can start investing. It really doesnt inspire confidence. As a distributor, I am not aware of the CAN that I have created for a client through MFU Offline, but the client is getting forms for investment. And then you are saying you are not promoting direct investment. Then why are you sending application forms to investors directly? Is sending application forms to investors not promoting investment? Very clever use of blurred line between providing convenience and promoting direct investment.

to IFAs wait for distributor specific CAN , dont use MFutility till your business security is taken care of, Mean time one can use folio based transaction form from MFutility without CAN

Ramesh sir . i am surprised to see u did not reply to my points , I have raised them only to improve mf utility and put to notice genuine concerns . 1]TO ALL IFAs PLZ NOTE CAN BELONGS TO INVESTORS , NOT TO ARN HOLDER ,investor can use CAN for DIRECT investment, other ARN holders, banks NDs can use same CAN , You may work hard for getting CAN for investor and better service plz make sure that your hard earned AUM does not spilled out of your hand , If CAN is generated by distributor then it must be regular plan only what is guarantee CAN holder wont get mails or sms about direct plans and direct plan NAVs etc already AMCs are doing this .going ahead more and more investors will be online friendly , and every chance they can bypass you using CAN created and portfoilo built by u.khud ke pairo pe kulhadi mat maro, demand for CAN- distributor only

Provision to mention ARN Code and EUIN on the CAN form is available. If not, it can be traced using PAN. Please call our office for any help.

would like to add also that in CAN appl from there is no mantion of ARN code/name etc..i doubt after CAN- it will be difficult to trace ARN for payment of trail etc..pl put light on this issue...

have recd regn from MFU..one of my clients has already got CAN also..but how to proceed now..i did not get password etc..pl help..

Mr Vinayak Garkhedkar - We assure you on data confidentiality. MFU will hold ONLY the account data. NO transaction data will be stored in MFU. Customer details will go to ONLY those AMCs where investor has invested. Suppose your investor has invested in AMC A and AMC B. The data will not go to AMC C. If you submit a transaction of purchase for this investor in AMC C, the data will then be sent. Therefore, opening CAN is equivalent to opening a Folio; except that you need not open again and again with different AMCs. Once opened, it is valid for all AMCs.

Dear Mr Dhaval Shah. Thank you for your comments. I will be more than keen to come and make a presentation to the distributors. We will plan it out and inform. We would be happy if someone co-ordinates with us on the same and we will be able to conduct it. Besides, we are having weekly WEBINARs every Thursday at 4 pm giving details of the System. Please visit our webiste at http://www.mfuindia.com/EventCalendar. You may register for the same and get more information. For this week, you will be able to register from tomorrow. You can also tell other distributors to log into the WEBINARs to get more information and clarification.

Dear V.Ramesh Sir, thank u for exploring MFU but things r still not very clear , if it is possible to train distributors at city level , then it well be far better more over apart from online ,call center etc will there be any support at city level regarding technical issues.

Good article to read...and inspiring. Apart from comparison between MFU and NSE platform, its convenience and wellness, want to ask... 1) Is it possible to hold purchased units in investors demat a/c ? 2) If so, then whether distributor gets TRAIL commission on same transactions or not..? I came to know distributor do not get trail on such trans. But it not logical because purchase trans. done in the scheme of perticular AMC and here only mode of unit holding is changed. If perticular DP is MF distributor, how they could have track and transaction authority of other investor a/c..? I think trail is being paid by AMC and not DPs...and DPs take annual maintenance charges for demat a/c. 3) When distributor will get authority to sell/redeem units held in investors demat a/c...? Is this facility available in any platform for distributor...?

THANKS TO MR,V.RAMESH MD & CEO OF MFUI UTILITY INDIA, TO UPDATE INFORMATION ABOUT THIS PLAT FORM OUR IFA WHO STILL NOT REG REQUEST TO REG AND I ALSO PERSONALLY THANKS TO TEAM OF MFUI TEAM WHO REVIEW AND INVOVATION AND IMPROVE SERVICE , THIS PLATFORM MAY BE SUPER IF ALL IFA JOINED AND THAN PROVIDE INFORMATION ABOUT THIS SOFWARE AND APPLICATION WHICH USE ANY IMPROVEMENT IF REQUIRED DISTRIBUTOR SUGGEST AND IF NEED THEY IMPROVE DAY BY DAY AND MAY BE IN NEXT 1 TO 2 YEAR AHEAD IN REST OF PLATFORM, ABOUT THIS PLAT FORM HOW CAN THEY BETTER IMPROVE WITHOUT JUMPING IN WATER NO BODY SAY HOT OR WARM , LETS START AND JOINED AND TAKE DEPT KNOWLEDGE WHICH AT PRESENT FEW DISTRIBUTOR KNOW ABOUT REALTY ALSO INCLUDING ME,

waiting for mfutility for long and happy with services even when they take time. I like also all exchange platform. any place where many transaction for all amc can happen under one house is best news for ifas- i dont know why any distibrutor should waste time on single amc websites

I am using MFU since its inception and found it very useful, time saving, paper saving and cost saving. Filling and carrying nos of Application Forms are reduces, travel time for log in/submitting transactions is reduce, now I need not submit transactions to different RTA and at different locations. CAN/ KYC can be generated at our office without any error/ spelling mistake. At present it is in basic stage proving such kind of benefits ,gradually it will be in full swing and then we will get more features and benefits . Entire MFU team is dedicated, providing all the support online and offline. In other platform we have to share our data to them and they charge fees also and further all AMC are not yet participating to them.

4]why not to have CAN-D and CAN -R to calm down distributors anxiety , if there is regular and direct plan for every fund why not CAN is given option of regular and Direct .add this while making CAN combination,this is intentionally not done by MFU either to support DIRECT and promote so called white labeled MFU 5]and that is quiet visible in distributors manual , examples of direct plan are put in distributors manual 6]Distributors manual is very poor,so the site demo videos and SOP , user will have to learn system using his own understanding, TRIAL and ERROR method , added to that very sub-standard customer care call centers 7]its better use app of different AMCs than MFU in current format, dont use MFU till it makes distributor friendly steps ,

mfu waited for few years, and finally what is come up is not very inspiring 1] it was launched and promoted as platform now play of words Transactions agree-gating portal ,most of features to be launched in phase 2 are more closer to platform than transaction agree -gating portal 2] TO OPEN CAN is not easy ,clients are already tired of giving self attested Pan card and cancel cheques ,, getting clients on board is difficult ,finding them for transaction is more difficult ,you have to remember CAN or search using PAN/folio no easy search system 3]it is less helpful to distributors ,than AMCs , MFU gets work done of RTA from distributors,simple practical things are missing from distributors point of view

What about the secrecy of the client data? While creating CAN ; we are providing all customeriinformation. Does MFU guarantee that this data will not be shared. What is the remedy if the info. is shared? How distributor can track that his client info. is not shared?

Very good move. It will save lot of time ; energy ; money of the distributors & will provide ease of investments to distributors & clients. Many many congratulations. The article above is really worth to read. Can u able to take a session for IFA in my city with Karvy support ? Then it will really helpful to us to know each formalities for how to open the account & other imp information. Most welcome. Thanks Dhaval shah; IFA; Baroda 9998970906