SSPL - MF FAQ

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Mutual Fund FAQ

Mutual Fund FAQ

SSPL Wealth offers personalized mutual fund solutions to grow and protect your wealth. Invest wisely with insights you can trust.

Mutual Fund Service System (MFSS)

Now the buying and selling of mutual fund have become easier for investors.

An investor who wishes to subscribe or redeem units of a mutual fund scheme can now use Mutual Fund Service System (MFSS) provided by NSE.

Online Investment:

SSPL has tied up with all the leading AMCs for its Mutual Fund Distribution services. Through SSPL one can invest in all leading Mutual Fund schemes with utmost convenience

SSPL gives its clients the option of investing in Mutual Funds either Online or Offline. Non Resident Indians (NRIs) and Persons and Indian Origin (PIOs) can also invest online in Mutual Funds of India without any paper work with or without the benefits of repatriation. SSPL’s MF Desk provides personalized services to its clients and ensures that they take well informed MF investment decisions.

Parameters for Mutual Fund Service System

Market time	9.00 AM - 3.00 PM	MFSS Segment
Series	DP	Dividend Payout option
	DR	Dividend Reinvestment option
	GR	Growth option

Advantages of MFSS:

Subscription / Redemption of units in electronic format.
Single demat account can be used for holding securities and mutual fund units.
Reduction of paperwork as there is no need to fill physical application forms etc.
No extra documentation like KYC, cheques etc for existing clients.
there is no transation charges; STT is an added advantage for MFSS Segment.
Investor would able to get a single view of his portfolio across multiple assets like securities, mutual fund units etc.

MFSS Registration:

Existing clients can register for MFSS by submitting ‘MFSS Activation letter’ from the ‘Downloads’ section of the website.

Mutual Fund FAQ

1. What is KYC? Toggle

KYC is an acronym for ‘Know your Client’, a term commonly used for Client Identification process. This would be in the form of verification of identity and address, providing information of financial status, occupation and such other demographic information.

2. What are the documents required with KYC form? Toggle

Investors in mutual fund schemes have to provide:
(1) Proof of Identity
(2) Proof of Address

3. What is MFSS? Toggle

Mutual Fund Service System (MFSS) is an online order collection system provided by NSE to its eligible members for placing subscription or redemption orders on the MFSS based on orders received from the investors.

4. How is MFSS different from existing process for subscription to and redemption of mutual funds? Toggle

Earlier, an investor interested in subscribing to a mutual fund had to identify a distributor of the mutual fund and submit all documents along with payment instrument where applicable to the distributor or directly to Mutual Fund/AMC/RTA. The subscription/redemption request would thereafter get processed and investor would know about status of the request only in the form of direct communication from Mutual Fund/AMC/RTA.In the MFSS, investor will have an opportunity to deal with SEBI registered NSE member who is eligible to participate in MFSS for subscription/redemption of units. Investor would be able to know the order details and modify his order details till the order acceptance time ends i.e. up to 3.00 pm.

5. What are the benefits of using MFSS for participation in mutual funds? Toggle

(1) Investor would able to get a single view of his portfolio across multiple assets like securities, mutual fund units etc.,
(2) Reduction of paperwork
(3) Transparency in knowing status of order till completion thereby reducing disputes

6. Are there specific timings when MFSS orders could be placed? Toggle

MFSS would be available for placing of orders between 9.00 am and 3.00 pm on all the working days of the Exchange. Any order placed beyond these timings could be for placing it on the MFSS the next day.

7. Should mutual fund units be held in physical form or demat form? Toggle

Investors have a choice of holding units either in physical form or in demat. However, for convenience of operations and ease of entry and exit it would be advisable to hold the units in demat form.

8. For the purpose of holding units in demat account, is there a requirement of opening a separate demat account? Toggle

If you already have an existing demat account say for holding of your securities, same account can be used for holding units in demat form also.