MF Utilities announces suspension of new investments into Quant MF schemes

Mutual Fund Utilities (MFU) has introduced the suspension of new investments into Quant Mutual Fund schemes through its platform. As per a communication despatched out by MFU immediately, the mutual funds platform is not going to be permitting new investments into Quant MF’s schemes with impact from February 1. “Both CAN (widespread account quantity) and folio-based transactions, that’s, subscription and SIPs (systematic funding plans) can be restricted. eCAN registration via Quant MF web site will proceed,” as per the communication.

MFU is a platform that buyers, distributors and different intermediaries can use for mutual fund transactions. According to sources, pending dues from Quant MF triggered the choice by MFU.

Existing Quant MF buyers can nonetheless, relaxation simple. As per the communication, there can be no impression on lively SIPs, STPs (systematic switch plan), and SWPs (systematic withdrawal plan) registered on or earlier than February 1. There can even be no impression on Quant MF folio mapping and its holdings within the MFU dashboard. For additional particulars, one can contact MFU on its centralised compliance module (CenCoM) or on 022-6134 4316 between Monday to Saturday.

Mint will replace the story as soon as Quant MF responds to the question despatched.

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