A common platform for the mutual funds should be up and running by the end of current fiscal allowing retail investors to trade, switch over and compare the schemes online through a single window.
"We expect this platform to be operational by March 2010," Jaideep Bhattacharya, chairman of the panel on Common Industry Platform for improving operational and service efficiency for mutual funds of India, told PTI.
Bhattacharya, who is also the chief marketing officer of the UTI Mutual Fund, said the platform would provide quick and easy accessibility to investors. And from fund houses perspective, it would result in substantial reduction in transaction cost and increase penetration.
The idea is to provide all fund houses and distributors a single platform where investors can have the true sense of choice, he said, adding, a mutual fund investor can access this common platform and choose the scheme that he wants to invest in.
Elaborating on the other benefits, he said an investor would get the NAVs of all the mutual funds at one place and at one time in a meaningful, type-wise and category-wise presentation.
