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What is MFCentral and why you should be using it?

This article introduces MFCentral as a one-stop-shop for transacting in mutual funds for Indian mutual fund investors.

What is MFCentral and why you should be using it?


Posted on 06 Feb 2024
Author: Sayan Sircar
4 mins read
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This article introduces MFCentral as a one-stop-shop for transacting in mutual funds for Indian mutual fund investors.

What is MFCentral and why you should be using it?

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What is MFCentral?

MFCentral is a free-to-use website owned by the Mutual fund Registrar and Transfer Agents (RTAs) CAMS and Karvy. Using the MFCentral website / app, individual resident Indians can buy/sell every mutual fund available for investing from all AMCs. Also, the site offers an easy-to-use facility to place service requests like Folio merging, updating contact details and others.

Is MFCentral fully online?

If you are an existing mutual fund investor with KYC completed, using MFCentral is fully online.

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Does MFCentral allow both SIP and lumpsum transactions?

MFCentral supports both lumpsum and SIP for buying funds as well as SWP and STP for selling funds

What are the best features of MFCentral?

MFCentral offers online transactions across all mutual funds, service requests and portfolio tracking in an easy-to-use and modern UI all for free. Investors have one login id (which can be PAN) and have password/OTP based logins for all funds.

Does MFCentral offer direct mutual funds?

MFCentral offers all mutual fund plans including Direct plans. Growth and Dividend (IDCW) plans are also available.

Which categories of mutual funds does MFCentral support?

MFCentral offers equity, debt, and hybrid funds from 43+ AMCs.

Which are the major features of MFCentral?

MFCentral offers portfolio view for all funds held under your PAN, buy/sell/switch/SIP/SWP etc. for all mutual funds as well as service requests.

How does MFCentral show portfolio view?

MFCentral offers portfolio view by asset class (equity/debt/liquid), AMC wise and fund wise. Invested value, current market value at latest NAV and absolute profit/loss is shown. Percentage of holding in different funds and AMCs is also available.

What transactions does MFCentral allow?

MFCentral allows buy, sell, switch along with SIP, SWP and STP transactions across all supported mutual funds.

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Which mutual funds does MFCentral support?

At the time of writing, MFCentral offers mutual funds from 43+ AMCs.

Which service requests does MFCentral support?

MFCentral supports mostly online, and some offline, service requests like update of contract details, data correction in folios, update of bank details, nominee updates and many others. One useful feature they have is closing folios with zero balance.

What statuses does MFCentral show?

 MFCentral shows the status requests for both Service Requests and Financial Transactions (like buy/sell/switch etc.) placed though the platform.

Does MFCentral have statements?

MFCentral offers list-wise transaction, SIP/SWP and portfolio holding statements.

Does MFCentral show demat holdings?

Yes, MFCentral shows demat-based holdings like ETFs and any funds held in a demat account. The data is sourced from NSDL or CDSL directly.

Does MFCentral have capital gains statement?

MFCentral does not offer capital gains statement. You can however get it from the Consolidated Gains statement from CAMs website.

Does MFCentral support NRIs?

MFCentral currently does not support NRIs. But you can submit a service request to change your status between resident Indian to NRI.

Does MFCentral show all folios under your PAN?

Portfolio and CAS will be shown only for those folios when the first holder’s PAN and mobile are used to register into the MFCentral website.

Does MFCentral show metrics like XIRR?

MFCentral does not show metrics like XIRR.

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This post titled What is MFCentral and why you should be using it? first appeared on 06 Feb 2024 at https://arthgyaan.com


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