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The regulation made it open to public for trading mutual fund units like shares. This kills the purpose of mutual funds investment for long tenures. Trading leads to loss and subsequently bad mouthing among public which eventually is not good for mutual funds to grow. 6 years back Ive asked the 7th point in discussion and now the regulation is implementing it without addressing the concerns of genuine investors. The BSE/NSE mutual fund platforms have onboarded most of the MF distributors by offering them free joining . MFDs again forget that free lunch available at traps.

@ Soundara Raja >> Sir, 1) Client Registration: its Realtime , paperless scanned mode required to be uploaded ( 1 Pager AOF and Cancelled Cheque)>>>> 2) Cheques are accepted... Mode pf payment can be , Payment Gateways, OTM , Cheques , Neft / RTGS. For any further details do let know --- or mail me at omkeshwar.singh@bseindia.com

PL explain client regn and can cheque also acceptable ?

BSE STAR MF platform, one of the largest distribution framework for Indian MF offering over 4000 schemes options across 39 AMCs covering 99% of AUM under 1 platform providing level playing field in terms of technology infrastructure to IFAs ///// Processing over 7000 orders per day constituting over 75% o/f the Market Share on Exchange Transactions /////For FY 14-15 i.e. 1st April to 30th November Over 8,76,00 orders aggregating to Rs. 6751 Crs has been transitioned on BSE StAR MF Platform /// Recently introduced DPC facility, direct pay-out of units to clients and Switch facility ( intra-AMC ) from 24th November,2014/// More than 1,40,000 SIPs / X-SIPs registered on the platform as on October,2014 /// http://www.bseindia.com/downloads1/MFD_Brochures_upload.pdf

Dear Sirs , Launched on December 4, 2009 BSE StAR MF platform completes 5 Years /// This was the broker model /// on 06-03-2014, BSE StAR MFD / IFA platform was launched /// http://www.bseindia.com/Static/Markets/MutualFunds/MFD.aspx?expandable=1 /// Thank you. Regards,

Greetings from BSE Limited!/// BSE is launching Mutual Fund Distributor Platform, through the BSE StAR MFD Platform./// Look forward to your presence on the inauguration of the Mutual Fund Distributor Model of BSE on 6th of March , 2014 at 4:00 pm/// International Convention Centre, Bombay Stock Exchnage Limited, P.J. Towers, Dalal Street - 400001/// ///RSVP: Omkeshwar Singh///mutual.funds@bseindia.com///

Sirs. our IFAs as well as BSE official participated in this discussion, at the same time, Mr. Sam raised another question related to the Trail commossion, but there is no answer from any AMC. This is the LOVE of AMCs over IFA community.

@ Shri P. Ravi Krishnan and All , Sir''s, as rightly pointed out by Shri Ravi Krishnan, BSE StAR MF platform is a Mutual Funds Transactions platform, and based upon the feedback from number of IFAs and IFA Associations, BSE Limited is working upon having a HYBRID platform of demat and not demat platform, so that IFAs are not forced to used demat route ONLY, but IFAs should have and option to have a choice to use the mode IFAs are comfortable with /// We have also represented to the highest authority at SEBI to allow non-demat mode through BSE StAR MF platform /// BSE Limited appreciates and is sensitive to the requirements of IFAs & welcomes all the feedbacks and suggestions to incorporate all the requirements that would be required by IFAs/// Keeping the same COMMITMENT , Yesterday at BSE we have had Joint meetings with ALL RTA, Depositories , an few leading AMCs to work upon the Physical / non demat mode for IFAs on BSE StAR MF platform.///

As of now BSE is not a National Distributor, but Mutual Fund Utility Platforms don''t give any guarantee on safety of data and we might be adding more National Distributors (THE STOCK BROKING FIRM WITH THE CLIENT''s DEMAT ACCOUNT)to slowly eat us. If the these Stock Brokers are free to know the clients holdings details , they will surely ask the client to invest a portion through them. No IFAs want such a thing to happen. Why we ourselves should remove the earth under our own feet? We should not forget the fact that almost all the current national distributors have become what they are today through the strength of IFAs and now they are slowly throwing IFAs out of business through stealing of assets (pass backs etc).

@ Rajiv Jhaveri & All , Sir''s , BSE StAR MF platform has all AMCs and Connected to All RTAs and Depositories at ONE Platform, no need connect separately to ALL AMCs and ALL RTAs , everything will be available on one platform BSE StAR MF Platform , all schemes including NFOs of Close ended funds are available for Subscription /// The Physical mode in second phase is not the Physical mode as it is today , only the holdings will be non demat form , subscription / redemption / SIP / switches etc all are ONLINE , without ANY FORM filling up and requirement to submit filled forms EACH TIME!!!/// The model will be hybrid, demat and non demat and based upon IFAs choice, it can be used on the SAME platform./// Cost of the MF industry will come down in long run as a whole as there will be no requirement for PRINTING of Application forms , Handling of Physical forms , Funds and units settlement will be through Exchange /// Link to user manual and X-SIP ( Single mandate for all schemes across ALL AMCs, as oppose to multiple mandates for multiple schemes of AMCs) http://www.bseindia.com/downloads1/BSEStARMFUserManualDistributors.pdf/// The ROLE of BSE is to provide Market Infrastructure as per the MANDATE of SEBI , BSE is an Exchange and NOT a MF distribution house///

Presently, in physical mode, four parties are involved in our transactions, (Clients, Distributor, AMC & RTA) Whereas in Exchange platforms six Parties will be involved (Clients, Exchanges, Depository Participants, Distributor, AMC & RTA). Both new parties trying to enter our business are coming to earn from it. The process will be definitely a financial burden for all four in future. Clients /Amc’s /Distributor’s /RTA’s Data will be available to these new parties also. Is it beneficial for clients /AMCs /Distributors /RTAs? Physical subscription will be facilitated in Phase II, so it proves importance of physical mode. For distributors interested in transacting in electronic form, Amc’s online facility is already available. This facility is available free of cost. All Major Amcs are providing transact online facility. Free facilities are always offered to invite. It doesn’t mean free for lifetime. If all listing will be done completely FREE then it will be a burden for their stakeholders & they will reverse the situation. About fractional units, it is still not clear that anybody can redeem all units in one transaction or more. Consolidated account statement is already available in present system. All transactions details, status is available online 24X7 in mail back facility offered by RTAs. Even if We believe about the motive, what about the cost? Why increase number of participants & in the end increase the cost? Last But most important if we are directly empanelled with fund houses what is the need of hiring a platform (other than RTAs & AMCs) to reach them. If a distributor or an organization tells us:”I will do your all work in free”, how many of us will take the free help of such entity?

Correction ---BSE Limited is the first exchange, facilitate all ARN holders " WITHOUT "Delay, so that same technology infrastructure is available to ALL //// Best Wishes!

@ Shri. Sam Koshy & All, Sir''s please note the below : ///BSE limited processes millions of transaction per day fir different markets, hence the technology infrastructure is already available, hence processing few 1000s of more transactions, does not require any additional infrastructure requirements./// All the data that is between the IFA and BSE Limited is completely safe /// For more than 138 years 1000s of intermediaries have transacted on BSE Exchange platform, the data has never been compromised/// Similarly the Issue of BSE Limited becoming National Distributor, for 138 years we have been serving 1000s of intermediaries, BSE has nit become a intermediary/// BSE Limited is an SRO, Regulatory implementation authority and not an Financial Services Intermediary/// BSE Limited has offered this services as mandated by the SEBI, for the benefit Mutual Funds Investors and MUTUAL FUNDS Industry, to leverage REACH and Technology platform for PENETRATION of MF Industry, BEYOND 15 Cities, which has 87% of MF Industry AUM, 75% of AUM in 5 Cities!!!! //// Platform and Technology is NOW AVAILABLE through BSE Limited to reduce paperwork, reduce cost, provide services online at Multiple locations leveraging technology infrastructure, concentrate on clients acquisition and clients servicing/// BSE limited has made available the choice, ///this platform has been available to BSE members from 2009 , many national level distributors have been using the exchange platform with GREAT BENEFITS, therefore as soon as SEBI allowed the exchange platform to be given to ALL ARN HOLDER on 4th of October, 2013 ,(http://www.bseindia.com/downloads1/SEBI_Circular_Mutual_Fund_distributors_to_use_SE_platform.pdf) BSE Limited is the first exchange, facilitate all ARN holders with Delay, so that same technology infrastructure is available to ALL //// Best Wishes!

I really like the point the raised my Mr.Sam Koshy, "The basic fact is Mutual Fund industry has an equity AUM of approximately 10000 crore some 15 years ago and had we kept those assets until now they themselves would have grown in to approximately 1,50,000 Crore Equity AUM. That is the Equity AUM even now. So, what did we do as an industry in all these 15 years? Imagine what would have happened if all the AUM that came into the industry is held with minimal redemptions! All this loss to us is because at some point in time investors were encouraged to trade in Mutual Funds rather than invest for long term. Can we do the same mistake once again?Online platforms not only bring in ease of transaction but also encourage to trade and we should never forget this fact".

BSE doesn''''t give any guarantee of safety of data and we might be adding one more National distributor(BSE) to slowly eat us. We should not forget the fact that almost all the current national distributors have become what they are today through the strength of IFAs and now they are slowly throwing IFAs out of business through stealing of assets, (pass backs etc.,)

If there is no income then why is BSE giving this service? How will it survive? After all BSE runs a business not a charity! Once a customer gets used to this platform, they might ask for a cut in the share of the distributor like the current online platforms are asking for and in the end it might become a monopoly and squeeze out the margins of the distributors further and may force us out of this business.

//////////////////////////////(1) IFA: Any Platform is basically meant for trading. It is not at all necessary for investors. Why investors who hold units for long time should pay demat charges? It is a kind of rent of safe deposit vault for them. These assets (Mf units held physically) can not be stolen, then why anybody should keep it in safe deposit vault & pay rent on it? Why should we adopt a system which can prove very expensive for our clients in future(Also which is unnecessary expenditure)? It is mainly beneficial to depository participants.//////////// BSE: There is NO TRADING on BSE StAR MF platform , it ONLY collects the orders , settles with RTAs / AMCs and transfers monies / units to INVESTORS ... ALL is done PAPERLESS///No frill Demat Account is available /// Demat mode is mandated by SEBI///In Phase II , BSE StAR MF platform shall also facilitate electronic order routing for PHYSICAL subscription////////// ///////////////////////////(2) IFA: Platforms are basically meant for trading. So it can easily encourage churning. Is it advisable to encourage trading/churning in MF units?//////////// BSE: The BSE StAR MF Platform facilitates Orders in electronic form as oppose to PHYSICAL Paper Submission./// IFA places the order in place of SUBMISSION of Physical Paper , hence the mistakes of filling form , SIGN mismatch , etc is eliminated!/// Eliminate Physical submission of the forms and monies ///Rest ALL REMAINS same as it is now in Physical Mode .//////////// ////////////(3) IFA: If listing Fees Charged by exchanges is paid from TER, then it is a burden for existing investors of physical mode. It is also a burden for amcs.//////////// BSE: Listing of any schemes on BSE StAR MF Plaltform is completely FREE //////////// ////////////(4) IFA: Clients can never redeem all units. Fractional units can not be sold on this platform. So after a period of 4-5 years all clients will have a long list of fractional units of many schemes. To redeem these fractional units is a harassment for clients or distributors, whereas in current mode anybody can redeem all units.//////////// BSE: Fractional units sales has been built in the BSE StAR MF Platform//////////// ////////////(5) IFA: There is nothing like physical certificates in Mutual Funds. Mutual Funds provide only account statements to the investors. Forms & other sales literature are provided by amcs without any charge. So what is the need of spending membership fees to enter platforms?//////////// BSE: It''s a one time , LIFETIME MFD fees for///// a. Eliminate Physical submission of the forms and monies ///b. Rest ALL REMAINS same as it is now in Physical Mode /// c. The BSE StAR MF Platform facilitates Orders in electronic form as oppose to PHYSICAL Paper Submission./// d. IFA places the order in place of SUBMISSION of Physical Paper , hence the mistakes of filling form , SIGN mismatch , etc is eliminated!/// e. Big Distribution House are able to provide the ONLINE MF facility to MF Investors , therefore for the benefit of IFAs , BSE is extending its Technology Infrastructure to IFAs to provide the same services to Investor i.e. level playing field , FREE of COST!//////////// ////////////(6) IFA: No common statement yet means adding another layer of trouble to our clients and ourselves.//////////// BSE: This facility of COMMON account statement shall be available tentatively by end of March 2014./// However the holding statement is available through DP./// All transactions details, status is available online 24X7 on BSE StAR MF Platform in downloadable formats. //////////// ////////////(7)IFA: BSE doesn''''t give any guarantee of safety of data and we might be adding one more National distributor(BSE) to slowly eat us. We should not forget the fact that almost all the current national distributors have become what they are today through the strength of IFAs and now they are slowly throwing IFAs out of business through stealing of assets(pass backs etc.,)//////////// BSE: /BSE Limited is a SRO and Regulated by SEBI , the motive is NOT PROFIT Making, but providing transparent technology platform to IFAs , for the benefit of IFAs and Investors. BSE provides the market place of Financial Instruments , Equity , Derivatives , Bonds , Debt , MF etc...///Thousands of Broking members have been trading on BSE for 100s of years , BSE is a SRO , a Financial MARKETPLACE for trading and distribution of financial products , Regulated by SEBI and NOT a MF Distributor!///BSE Ltd, the first ever stock exchange in Asia established in 1875 and the first in the country to be granted permanent recognition under the Securities Contract Regulation Act, 1956, has had an interesting rise to prominence over the past 137 years. //////////// ////////////(8)IFA: Isn''''t the same thing told to investors by stock brokers some years ago, but do people who go to stock brokers control themselves without trading? Is it good for the investors if they become traders in "Mutual Funds"? The basic fact is Mutual Fund industry has an equity AUM of approximately 10000 crore some 15 years ago and had we kept those assets until now they themselves would have grown in to approximately 1,50,000 Crore Equity AUM. That is the Equity AUM even now. So, what did we do as an industry in all these 15 years? Imagine what would have happened if all the AUM that came into the industry is held with minimal redemptions! All this loss to us is because at some point in time investors were encouraged to trade in Mutual Funds rather than invest for long term. Can we do the same mistake once again? //////////// BSE: The BSE StAR MF Platform facilitates Orders in electronic form as oppose to PHYSICAL Paper Submission./// IFA places the order in electronic / online mode in place of SUBMISSION of Physical Paper , hence the mistakes of filling form , SIGN mismatch , etc is eliminated!/// Eliminate Physical submission of the forms and monies ///Rest ALL REMAINS same as it is now in Physical Mode ./// There is NO TRADING on BSE StAR MF platform , it ONLY collects the orders , settles with RTAs / AMCs and transfers monies / units to INVESTORS ... ALL is done PAPERLESS/////////

There are many more serious issues with stock exchange platforms. 8. Any Platform is basically meant for trading. It is not at all necessary for investors. Why investors who hold units for long time should pay demat charges? It is a kind of rent of safe deposit vault for them. These assets (Mf units held physically) can not be stolen, then why anybody should keep it in safe deposit vault & pay rent on it? Why should we adopt a system which can prove very expensive for our clients in future(Also which is unnecessary expenditure)? It is mainly beneficial to depository participants. 9. Platforms are basically meant for trading. So it can easily encourage churning. Is it advisable to encourage trading/churning in MF units? 10. If listing Fees Charged by exchanges is paid from TER, then it is a burden for existing investors of physical mode. It is also a burden for amcs. 11. Clients can never redeem all units. Fractional units can not be sold on this platform. So after a period of 4-5 years all clients will have a long list of fractional units of many schemes. To redeem these fractional units is a harassment for clients or distributors, whereas in current mode anybody can redeem all units. 12. There is nothing like physical certificates in Mutual Funds. Mutual Funds provide only account statements to the investors. Forms & other sales literature are provided by amcs without any charge. So what is the need of spending membership fees to enter platforms?

Earlier also thro this medium I had suggested another way. I myself is direct broker with main AMCs. For others I am routing business thro karvy. Also I had taken agency from " fundsindia " a chennai based company which is a online. If your clients are young, you can give them fundsindia user id so that they can be anywhere in india or be in world, they can do online investment. You can track their investment, advise them as ususal. Only one time paperwork. then they can invest in almost all 44 AMCs. No registration fee of 15000/- like in BSE platform. In BSE platform there will not be any analysis. In ''fundsindia'' u will get various reports. At least I felt it is great. I have just started using it.

(2)In normal stock exchange transactions there will be a brokerage on the volume. It may be double charging the clients as fund houses will charge them expense ratio and stock exchanges charge brokerage which the client may accept or may not. - BSE : There is no brokerage that is to be charged , there is no transaction charge on BSE StAR MF Platform, completely free of any charge, unlike broking on exchange platform./////////////////////// IFA: Does it mean that there will be no charges at all in the future too? If there is no income then why is BSE giving this service? How will it survive? After all BSE runs a business not a charity! Once a customer gets used to this platform, they might ask for a cut in the share of the distributor like the current online platforms are asking for and in the end it might become a monopoly and squeeze out the margins of the distributors further and may force us out of this business.///////////////////////////////////////////////////////////////////////////////// (4) Many clients may not be comfortable holding the units in demat / invisible form as they are so used to having "Certificate/Bond/statement" for what they buy. - BSE : Just like the physical holdings is via statements , similarly the demat holdings is reflected in demat holding. - Further , along with RTAs BSE StAR MF team is working on providing CAS , common account statement , which will have both holdings , physical and demat./////////////////////// IFA: No common statement yet means adding another layer of trouble to our clients and ourselves.///////////////////////////////////////////////////////////////////////////////// (5) Demat account adds an un-necessary cost to the client which he doesn''''t have to pay if holds units in the current system. - BSE: There is a facility of No frill Demat Accounts , with very minimal cost, the same can be used to begin with , SEBI notice link for the same is as below: https://www.cdslindia.com/whatsnew/SEBI%20Circular%20-%20Facility%20for%20a%20Basic%20Services%20Demat%20Account%20(BSDA).pdf////////////////// IFA: Confirms our doubt that there will be an additional demat charge for most of our clients.///////////////////////////////////////////////////////////////////////////////// (6) Data will be in the hands of multiple organizations and increases the threat of stealing of assets. - BSE:Service , convenience and the relationship shall be decider.//////////////////// IFA: BSE doesn''t give any guarantee of safety of data and we might be adding one more National distributor(BSE) to slowly eat us. We should not forget the fact that almost all the current national distributors have become what they are today through the strength of IFAs and now they are slowly throwing IFAs out of business through stealing of assets(pass backs etc.,)///////////////////////////////////////////////////////////////////////////////// (7) Finally, we shouldn''''t forget that regular trading creates income for stock exchanges and they may encourage it. We know that it goes against the basic principle of long term mutual fund investment and may create a bad habit among clients which could be disastrous for the clients and us in the longer run. - BSE: BSE StAR MF platform is an ORDER routing platform and not a TRADING system, it only facilitate order routing and eliminates paper from the system for the benefit of IFAs and Investors, everything else remains the same./////////////////// IFA: Isn''t the same thing told to investors by stock brokers some years ago, but do people who go to stock brokers control themselves without trading? Is it good for the investors if they become traders in "Mutual Funds"? The basic fact is Mutual Fund industry has an equity AUM of approximately 10000 crore some 15 years ago and had we kept those assets until now they themselves would have grown in to approximately 1,50,000 Crore Equity AUM. That is the Equity AUM even now. So, what did we do as an industry in all these 15 years? Imagine what would have happened if all the AUM that came into the industry is held with minimal redemptions! All this loss to us is because at some point in time investors were encouraged to trade in Mutual Funds rather than invest for long term. Can we do the same mistake once again?///////////////////////////////////////////////////////////////////////////////// Online platforms not only bring in ease of transaction but also encourage to trade and we should never forget this fact.

(1)There is no clarity on whether trail will be paid on transactions routed through stock exchanges. - The upfront and the trail will paid to the ARN holder as it is in the present physical system, There is no change in the same. BSE StAR MF FAQ link appended for your reference : http://www.bseindia.com/downloads1/BSEStARMFUserManualDistributors.pdf (2)In normal stock exchange transactions there will be a brokerage on the volume. It may be double charging the clients as fund houses will charge them expense ratio and stock exchanges charge brokerage which the client may accept or may not. - There is no brokerage that is to be charged , there is no transaction charge on BSE StAR MF Platform, completely free of any charge, unlike broking on exchange platform. (3)We may be held responsible for any error in entry of order which could create huge loss for us(unexpected legal issues). - The system is designed in such a way that the funds payment is initiated by the Investor in case of subscription, and similarly in case of redemption the units transfer is initiated by the Investor , and the monies / sales proceeds is directly credited to Investors account from RTAs. (4) Many clients may not be comfortable holding the units in demat / invisible form as they are so used to having "Certificate/Bond/statement" for what they buy. - Just like the physical holdings is via statements , similarly the demat holdings is reflected in demat holding. - Further , along with RTAs BSE StAR MF team is working on providing CAS , common account statement , which will have both holdings , physical and demat. (5) Demat account adds an un-necessary cost to the client which he doesn''t have to pay if holds units in the current system. - There is a facility of No frill Demat Accounts , with very minimal cost, the same can be used to begin with , SEBI notice link for the same is as below: https://www.cdslindia.com/whatsnew/SEBI%20Circular%20-%20Facility%20for%20a%20Basic%20Services%20Demat%20Account%20(BSDA).pdf (6) Data will be in the hands of multiple organizations and increases the threat of stealing of assets. - Service , convenience and the relationship shall be decider. (7) Finally, we shouldn''t forget that regular trading creates income for stock exchanges and they may encourage it. We know that it goes against the basic principle of long term mutual fund investment and may create a bad habit among clients which could be disastrous for the clients and us in the longer run. - BSE StAR MF platform is an ORDER routing platform and not a TRADING system, it only facilitate order routing and eliminates paper from the system for the benefit of IFAs and Investors, everything else remains the same. Brief note on BSE StAR MF Platform appended below for reference: "Say Goodbye to Mutual Funds Application Forms" Presenting BSE StAR MF - a smarter trading platform for the smart Mutual Fund Distributors. Enjoy greater control and absolute PEACE of mind.   Avail the GOLDEN Opportunity to register as Mutual Fund Distributor (MFD) at BSE Limited, The Premier Exchange of India. - It’s a LIFETIME membership by paying only Rs. 15000/- - NO Deposits Requirement. - NO Annual Charges. - SIMPLE, EASY and CONVENIENT Documentation! SAVE COST: - By Leveraging WORLD CLASS BSE Limited Technology Infrastructure; - By reduction of Paperwork and Reduction in ADMINISTRATIVE costs!   INCREASE PROFITS: - By offering MORE Products on a SINGLE PLATFORM - By Saving time and Concentration on Business Development (NEW Client Acquisition)   INCREASE CLIENT SATISFACTION: By offering Investments at Clients CONVENIENCE ( via Telephones / Computers / PDAs)   HOW? - Register as BSE MFD and Avail BSE StAR MF browser based automated online order collection system, web based platform, access the platform anytime, ANYWHERE. - Redemption / Subscription (Normal / SIP/ X-SIP) from SINGLE screen – Existing Schemes as well as NFO! - Feature-rich and highly flexible electronic order platform, facility for Manual entries as well as Bulk uploads. - Instant access with ONE time CLIENT Registration - In-built Risk Management System About BSE StAR MF Platform: - Over 2750 schemes of 35 AMCs constituting 96%.1 of AUM are available on BSE StAR MF Platform. - BSE StAR MF Platform is a market leader in Stock Exchange Platform with over 79 % market share, top MF distribution house have been using BSE StAR MF platform with great benefits since inception in 2009. For more details visit us at www.bseindia.com OR Mail us at mutual.funds@bseindia.com OR Call us at 022 2272 8183 / 2272 8346 OR http://www.bseindia.com/members/Mutual_Fund_Distributor_Registration.aspx?expandable=0

the points raised by mr.sam are very important and need to be anwered by a senior person from bse in wealthforume,whether this platform can be a substitute to mf utility platform,whether physical statements of mf can be generated etc.

clarification is required by the from stakeholder.

All Points raised in this discussion are to be answered. There are many more serious issues with platforms like BSE/NSE. 8. Any Platform is basically meant for trading. It is not at all necessary for investors. Why investors who hold units for long time should pay demat charges? It is a kind of rent of safe deposit vault for them. These assets (Mf units held physically) can not be stolen, then why anybody should keep it in safe deposit vault & pay rent on it? It is mainly beneficial to demat participants. 9. Platforms are basically meant for trading. So it can easily encourage churning. I don’t understand why amcs are not requesting to ban such platforms? Is it advisable to encourage trading/churning in MF units? 10. If listing Fees Charged by exchanges is paid from TER, then it is a burden for existing investors of physical mode. It is also a burden for amcs. 11. Clients can never redeem all units. Fractional units can not be sold on this platform. So after a period of 4-5 years all clients will have a long list of fractional units of many schemes. To redeem these fractional units is a harassment for clients or distributors, whereas in current mode anybody can redeem all units. I hereby request all participants of the industry to request to ban such platforms.

tell about trail code will be added latershift will occur then who is responsible.

Request to the Service Providers of the MF Platforms, Kindly Clarify the concerns raised by Mr.Sam Koshy and the pros & cons your platform in this forum so as to attract more IFAS into your system. If your clarifications is good for the IFA community, you needn''''t worry, Otherwise try to make the Platform IFA friendly, We''''ll be with you.

There are many questions to be answered about this platform: 1.When this platform will be launched? 2. Is it mandatory for investors to hold MF units in Demat form or optional? 3. How the people of rural area invest in Mutual Funds, where there are no DPs? 4. Who will borne the cost or annual maintenance charges of DPs?

I have cross check with people having demat a/c and purchasing and selling shares not made positive return in last 10 years because 95% people are not having self control with stock market volatility. I am 100% sure that if clients are getting chance to trade in stock market /BSE platform mostly they are gradually going to withdraw and AUM of MF are going to decrease. It will be blunder to allow purchase of mutual fund in demat form. I have asked my clients to close demat a/c and never open in future.

When Mutual fund utilitty platfom will be launched ?

D/s. The opinion of Mr.Sam Koshy Kollam cannot be neglected. With regds K K Sudhakaran

yes there is no clearity whether our identity will be stock exchange or with amc''s who will pay up front and trail commission stock exchange or amc

Now Bse Launched Bse Star Mf it is very comfort and Best for Mutual fund advisers. Client Need one Demat Account. If any demat account no need to worry all the upfront and trails belongs to Arn Holder only. No Annual Maintenance Charges only 16000 for one time Registration Charges. Even Client could purchase online,sip registration for Further Details log on Bseindia.com

I have a request to the Service Providers of the MF Platforms, Kindly Clarify the concerns raised by Mr.Sam Koshy and the pros & cons your platform in this forum so as to attract more IFAS into your system. If your clarifications is good for the IFA community, you needn''t worry, Otherwise try to make the Platform IFA friendly, We''ll be with you.

Nowadays, BSE is conducting Seminar on Stock Exchange Star Platforms for Mutual Funds for our IFA friends in every towns & cities across India. All our friends are requested to raise above points, raised by Mr. Sam Koshy, whenever they happen to be in Seminar. May I suggest our friends to think twice (after gathering all information) before joining the Star Platform.. Moreover, IFA must do the job of an Advisor rather than doing the role of a broker for the sake of his/her prestige & respect.