New Delhi, Dec 2 : After UTI Mutual Fund, Birla Sun Life becomes the second fund house in the country to join the National Stock Exchange's newly launched mutual fund service system (MFSS).
"The various schemes of Birla Sun Life Asset Management Company Ltd will be permitted on the MFSS with effect from December 3," the NSE said in a circular today.
On November 30, NSE made its mutual fund trading platform operational beginning with UTI Mutual Fund, the fourth largest fund house in the country.
Many other fund houses, including Reliance MF, Tata MF, ICICI Prudential MF, HDFC Mutual Fund, SBI MF, IDFC Mutual Fund, Religare MF, Fidelity and Franklin Templeton are in"advance talks" with the National Stock Exchange for listing their schemes on the exchange platform, a source close to the development told PTI.
At the end of last month, UTI Mutual Fund's average asset under management (AUM) was at Rs 79,895.22 crore, while Birla Sun Life Mutual Fund's asset was about Rs 69,631.94.10 crore.
Market participants are enthusiastic about MF platform and a number of fund houses are expected to join this facility in the coming days. At present, over 35 mutual fund houses are operating in the country.
Market regulator SEBI, recently gave its approval for facilitating transactions in MF schemes through stock exchanges.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment