Common application, transaction platform for mutual funds soon

The idea is to provide all fund houses and distributors a single platform where investors can have the true sense of choice, which is partially restricted due to the present model of distribution by brokers. A mutual fund investor can access this common platform and choose the scheme that he wants to invest in. Trading facility could also be provided on this platform, Kurian said.

Securities 038; Exchange Board of India Sebi chairman C B Bhave had suggested that mutual fund investors could have a common statement on all their unit holdings on the lines of the system that exists for equity investors through depositories. AMFI could not, however, give a timeframe by when the common platform would be in place but assured the idea 8220;would not remain on paper8221;.

The platform was likely to be managed by AMFI and it is studying various international models. 8220;We are studying Canadian, Fidelity and other models,8221; Kurian said.