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New engine for online mutual fund transactions

KOCHI: JRG Securities Ltd. has launched Mutual Funds Online, a web-based transaction engine for buying, redeeming and switching the units of schemes of various Indian mutual funds through its Internet trading platform, www.itradeeasy.com. Currently, JRG has tied up with 10 asset management companies — Sundaram BNP Paribas, Tata Mutual Fund, Birla Sun life, HDFC, Kotak, Canara Robeco, Deutsche, Taurus, Principal and HSBC Mutual Funds — for providing this service. More companies will be added to the list soon, says a press release.

The investor has to select the scheme, enter the quantity and transfer the required funds through the online payment gateway to invest. At present, JRG has online payment gateway facility with four major banks — Federal Bank, Axis Bank, HDFC Bank and ICICI Bank. “The investors can do hassle-free transactions without filling forms or writing cheques. They can view their mutual fund holdings and view their portfolio reports on a daily basis. They have the provision to analyse the performance of all mutual funds schemes, which is currently available in the market.

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