I have been investing in mutual fund direct plans from the beginning of 2013, and all my investment advice has been from your monthly Mutual Fund Insight magazine.Recently I stumbled upon MF Utilities website which offers mutual funds using a Common Account Number (CAN). This looks like a great opportunity for retail investors and from whats written on the website it seems straightforward to invest. Are there any pitfalls in buying mutual funds via this channel?
MF Utility (MFU) is an initiative of the mutual fund Industry. The investors with a Common Account Number (CAN) can transact in multiple schemes of various mutual funds participating in MFU through a single transaction and consolidated payment. We are not aware of any pitfalls in dealing with MF Utilities.