Online Mutual Fund Platform is an online order routing system provided by Exchanges to us for placing subscription or redemption orders received from Investors like you.

• You would be able to get a single view of your portfolio across multiple assets like Securities, Mutual Fund units etc.
• You would be able to get services from us for different asset class
• You would be able to execute faster funds transactions leading to prudent investment decisions.
• Your voice would have a say in mutually agreeing on charges to be paid for services rendered by us.
• Reduction of paperwork
• Transparency in knowing status of your order till completion thereby reducing disputes in complete order cycle.
• You can avail recourse to the grievance resolution cell of exchanges in case of deficiency in service provided by us.

Individuals, HUF & Body Corporates can participate in Online Mutual Fund Platform subject to completion of KYC procedures. In case of a minor the guardian would have to be compliant with KYC norms.

Asset Management Companies (AMC) desirous of offering Online Mutual Fund Platform Services to their existing & prospective customers enter into an arrangement with the Exchanges & only schemes of such AMCs would be available on Online Mutual Fund Platform. All schemes which are available on Online Mutual Fund Platform would be informed to the Participants & investors through issue of circulars from time to time. The currently available schemes on Online Mutual Fund Platform are available on respective websites.
(https://www.nseindia.com/products/content/equities/mutual_funds/mfss.htm )
(https://www.bsestarmf.in/RptSchemeMaster.aspx)

Only Trading Members like us who have obtained AMFI Registration Number (ARN) from Association of Mutual Funds of India (AMFI) are eligible to participate in Online Mutual Fund Platform & we have registered with lot of AMCs to offer subscription/redemption services for their Mutual Fund Schemes.

Online Mutual Fund Platform would be available for placing of orders between 9.00 am & 2.30 pm on all the working days of the Exchanges.

We would require you to sign up following 3 documents:

• Know Your Client procedure as mandated by CDSL Ventures Ltd.
• Letter consenting to participate in Online Mutual Fund Platform.
• Authority letter for Adjustment of funds & securities in Different Segment & Exchanges.

Every investor investing in mutual funds has to necessarily complete KYC norms .The Association of Mutual Funds of India (AMFI) has facilitated a centralized platform to carry out one time KYC procedure on behalf of all Mutual Funds. Once the KYC is duly completed in all regards, you need to produce a copy of the acknowledgement when investing for the first time in a Mutual Fund. There is no need to repeat the KYC process individually for each mutual fund.
For more details on KYC visit following sites:
https://www.cvlkra.com/Downloads/CVLKRA_QnA.pdf
https://www.amfiindia.com/investor-corner/investor-center/kyc.html

You have the choice of holding units either in physical form or in demat. However, for convenience of operations & ease of entry & exit it would be advisable for you to hold the units in demat form.

If you already have an existing demat / trading account with us, same account can be used for holding mutual fund units in demat form.

After receiving complete particulars from you, we would allot a Unique Client Code (UCC) to you.

For placing a subscription order, you would need to give your UCC, Name of the Scheme, the value (i.e. money) that you intend investing into, whether you would like units in physical form or demat form, whether your subscription is fresh (first time investor for a Mutual Fund company) or additional. In case you choose physical option for an additional purchase you need to provide the existing folio number also.

Orders can be placed between 9.00 am to 2.30 pm. Within this time period, you would be able to request us for correction if any including cancellation of order or placing a fresh order altogether.

For all orders received up to 2.30 pm, NAV of the business day will be the rate at which units would be allotted to you. Illustratively if you invested Rs. 1 Lakh, NAV of the scheme is say Rs.10/- you would get 10000 units allotted to you.

For subscribing to online Mutual funds through Online Mutual Fund Platform, you need to make payment in favor of “Sushil Financial Services Pvt. Ltd.” necessarily through Cheque/Demand Draft or via an online transfer into your ledger account using your login. We are obliged to place order only when clear balance is available in your ledger account.

Post 3:00 pm exchange would provide your order details to Mutual Fund/AMC/RTA & to your Depository for validation. On receipt of valid order information from both of these entities, on T+1 day as per the settlement calendar(currently at around 10.00am),Exchange would debit our Settlement account towards all valid orders & then transfer the money to the concerned AMC/Mutual Fund Company. Thereafter the AMC/Mutual Fund/RTA would process the subscription request & credit units to your demat account by T+1 end of the day.

Immediately on placing of order on Online Mutual Fund Platform, we would be in a position to confirm the details of your order & same can be viewed online on MF Click. By the following day we would be able to issue transaction confirmation memo containing particulars like Mutual Fund, Scheme, Value of subscription, Physical/Demat mode, Transaction charges & Service Tax applicable. In cases of rejection of the order, reason for rejection would also be communicated by us.

At the time of placing order for redemption with respect to demat units, you need to mention your unique client code, name of the Mutual Fund, Scheme, & Number of Units to be redeemed. In respect of redemption of physical units, order would be placed by us on receipt of necessary redemption request form along with documents including statement of account issued by mutual fund reflecting your units. We would then send the papers to RTA/Mutual Fund & then, the RTA/MF would process redemption request & send the payment directly to you. If the physical papers do not reach the RTA/MF within the time stipulated for the purpose, orders may get invalidated.

Immediately on placing of order on Online Mutual Fund Platform, we would be in a position to confirm the details of order & same can be viewed online by you on MF Click .By the following day we would be able to issue transaction confirmation memo containing particulars like Mutual Fund, Scheme, Value of subscription, Physical/Demat mode, Transaction charges & Service Tax applicable. In cases of rejection of the order, reason for rejection would also be communicated by us.

“National Securities Clearing Corporation (NSCCL) on T+1 day at the specified time would transfer units from pool account to the concerned AMC/RTA’s pool account. Thereafter AMC/RTA would process the redemption request at Transaction day’s NAV & directly credit the proceeds to your ledger balance. Please note procedure for credit may vary from fund to fund.

There are no regulatory restrictions on the fees to be charged by us for services rendered on Online Mutual Fund Platform. However, you may mutually agree with our mutual fund department on the transaction charges for services rendered on Online Mutual Fund Platform. Service tax would be applicable on charges so levied by us.

Changes to personal information would have to be communicated by filing the demat modification form along with communicating requisite changes to AMFI’s centralized KYC platform managed by CDSL Ventures Ltd..

You should first approach our Mutual fund department for resolution of your grievances, & if not satisfied then you can approach the investor services cell of the Exchange for resolution of dispute relating to service rendered by us.

In case of demat transactions the maximum value of subscription or redemption for a single order is pegged at Rs. 1 Crore & there is no restriction on number of orders that can be placed. However, with reference to redemption of physical units a maximum limit of Rs.1,00,000/- per order has been kept.