Investing in Quantum Asset Management Co. Ltd’s mutual fund (MF) schemes just got easier if you have an Internet banking account. In a move that reduces paperwork, the fund house no longer needs your physical signature. But does this endanger your money?
Reaching investors directly, without the help of distributors, is the biggest challenge that fund houses face in India. When Quantum AMC launched its operations in 2006, it became India’s first and only fund house to bypass agents and offer its schemes directly to investors. They refused-and still do-to pay commission to agents. So while most distributors avoided them, the fund house looked for newer ways to reach investors.
News Source – LIVE MINT.
HDFC Mutual Fund, one of the leading Mutual Fund House in India, and Shamrao Vithal Bank (“SVB”), one of the largest co-operative banks in India, today announced that they have entered into an alliance to offer the entire bouquet of HDFC Mutual Fund’s schemes through the bank’s 105 branches in 7 states across the country.
News Source – MONEY CONTROL.