How to track mutual funds in one place continues to be one of the top reads on the Unovest Blog. If you have been with Unovest since a few years, you may remember the app that allowed you to do that and presented some simple, awesome reports.
Sad, we had to discontinue it. One of the reasons was the proliferation of so many new mutual fund platforms that did the same thing and some, in fact, better.
Interestingly, in the year 2021, one more platform came up with a far more seamless experience.
This is MFCentral.com – a joint initiative by the 2 mutual fund registrars – CAMS and KFintech.
What’s different about MFCentral.com?
The biggest one is that there is no need to upload any PDF statements or Excel/CSV files.
Since MFCentral is run by both the registrars, they already have all the information about your investments made in the mutual funds serviced by them.
As soon as you create your account and login, it uses the PAN to bring up all the investments in your name (demat and non demat) and show them to you instantly.
It feels awesome!
Remember, if PAN is not mapped to the folio, it will not show up.
What else can be done on MFCentral.com?
Well, MFCentral really pushes the envelope by taking a whole host of services digital.
Want to update a nominee in your mutual fund folio?
Want to update contact details?
Consolidate your folios?
You can do it online without paperwork.
Some of the services may need additional but minimal documentation.
Who can create account on MFCentral.com?
Currently, only Resident individuals with a registered mobile number in their existing fund investments can create a MFCentral.com account.
In other words, corporates and Non Residents cannot access MFCentral.com. As per the website, they will be allowed at a later date.
What kind of reports can I view on MFCentral?
- Portfolio Summary Report with absolute gain/loss. (Annualised return feature is not available)
- Capital Gain/Loss Report
- Transactions Report
- Asset Allocation (based on SEBI/AMFI categorisation – doesn’t reflect true allocations)
Can I also buy or sell on MFCentral.com?
Yes, as on June 24, 2002, all transactions (except STP and SWP for now) are available on MFCentral.
For SIPs, you can create one time mandates too. Surprisingly, the system needs a different mandate for CAMS and KFintech each for their respectively serviced funds. A little bummer.
How do I create an account on MFCentral?
Go to www.mfcentral.com and click on SignUp at the top right corner. See image below.
Enter the PAN and registered mobile number/email to create your account.
If you don’t have a registered mobile number with your mutual fund investments, you cannot create an account.
This was a brief overview of MFCentral. I suggest that you go and create your account and explore it further.
The biggest benefit of MFCentral is that you can track your mutual fund investments in one place.
The cherry on top is the other services you can use in digital mode.
I hope that platform goes further to become a full fledged option for investors to track, invest and manage their investments.