Geojit launches Online Investing Facility in Mutual Funds

Kochi, Oct 16 (UNI) To provide transaction power to investors, Geojit Financial Services Limited today launched Online Investing Facility in Mutual Funds.

Addressing a meeting here, Company Chairman A P Kurien said the facility would help the customers to purchase, redeem and switch over to mutual funds.

'' The Company has entered into an agreement with SBI and Franklin Templeton Mutual Funds to provide this paperless method of investing, which will also considerably reduce the lengthy procedures,'' he said.

The portal would have details on available mutual funds and investors could view the product performance, transaction details, NAV announcement of fund houses and enable the investors to take informed decision on an investment.

''It will also display the investor's portfolio, dividend declared, update registrars or AMCs, change of bank accounts and addresses,'' Mr Kurien said.

Company Managing Director C J George said the oragnisation had interfaces with five banks for online transfer of funds and was planning to add another ten more banks.

The Company would include 15 fund houses in the next six months under the few facility, Mr George said.

The Online Mutual Fund was inaugurated by Mangaing Director of SBI Mutual Funds Syed Shahabuddin.

Geojit is a member of NSE, BSE, MCX, NMCE and NCDEX and has more than 6,000 crore of AUM and 400 branches across the country.

UNI