Online applications to help mutual funds meet new NFO timeframes

The Mutual fund (MF) industry, which has to deal with reduced timeframe for launch of new fund offers (NFOs) and allotments of units, is getting help from companies, registration and share transfer agents to meet the deadline smoothly.

In a first effort, after Securities and Exchange Board of India (Sebi), reduced the launch period for MFs to 15 days and the timeframe for allotment of units to five days, a technology to help funds comply with the norms has been launched.