The Hindu Business Line : JM MF appoints Haribhakti & Co to oversee transfer of R&T

THE fund house, which has CAMS as its registrar and transfer (R&T) agent , has engaged Haribhakti & Co as its advisor in the context of the proposed change to the Hyderabad-based Karvy.

All JM MF schemes will be serviced by the latter with effect from June 20. The fund has billed June 18 as a non-business day.

The CEO of JM MF, Mr Krishnamurthy Vijayan, said, plans to bring about the change keeping in mind all compliance issues as well as the needs of its investors. Karvy has lately improved its delivery mechanism, an upgradation that has partly prompted the fund to shift allegiance from CAMS.

The rates offered by Karvy (which has tied up with an overseas firm, Computershare) are also more attractive, he added.

The new appointment also implies that JM MF will have access to the 300-plus offices that currently form Karvy's network. This is being seen as a value-addition because Karvy happens to be a distributor of mutual funds as well.

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