PowerMF Blog – Empower Yourself

The month of November 2009 has been one of the most important months in the evolution of PowerMF as a platform. In my earlier blog post , I had written about how the product was conceived and what we expect PowerMF to deliver as value to the investing community. We are now closer to our dream of making this platform live. We have now PowerMF signed up with 4 AMCs in order to provide the complete solutions what we wanted to for the investors:

1. SBI Mutual Fund
2. Kotak Mahindra Mutual Fund
3. Sundaram BNP Paribas Mutual Fund &
4. Tata Mutual Fund

In addition, discussions with the following mutual funds are in advanced stages:

1. IDFC Mutual Fund
2. Reliance Mutual Fund
3. UTI Mutual Fund
4. DSP Black Rock Mutual Fund
5. Franklin Templeton Mutual Fund
6. ICICI Prudential Mutual Fund
7. HDFC Mutual Fund

We are confident that in the next few weeks these AMCs and many more would be live on the PowerMF platform.

Further, this month also saw the launch of our new homepage which brings in the best of the world features in order to make navigation and usability simple and clean.

On November 30, 2009 NSE launched its Mutual Fund transaction engine MFSS. This is expected to make the process of investment by a person having a demat and broking account an easier affair. Interestingly, PowerMF incorporates all these ‘ease of transacting’ in addition to a comprehensive ‘analytical tool’ for its customers.

The documentation required for the purpose of opening an account with PowerMF also got finalized after being vetted by the legal advisors during this month and the same is available for starting to sign up customers for a live account, which will be active from the first week of December 2009.

PowerMF also is in talks with service providers in order to enable a network of branches to support the online platform. It is expected that during December 2009, this will also expected to be live soon. We also have a call center in the final stages of being set up.

With these exciting new developments, we are eagerly look forward to the month of December when the product will become live for customers to transact. We are planning to have our commercial launch very soon.

Stay tuned!

If you enjoyed this post, make sure you subscribe to our RSS feed or Email Newsletter.