The facility will enable fund applicants to submit applications within time in an easy and hassle-free manner From this month onwards, applying for a new fund offer (NFO) will be a whole new ball game as the Securities and Exchange Board of India (SEBI) has changed the NFO environment drastically. It has reduced the window for listing of NFOs to 15 days from the earlier 30 days and has also brought down the allotment to 5 days from the earlier 30 days.This will now bring down the processing time for completion of NFOs from 60 days to an astounding 20 days only.
This move will also bring with it concerns for investors about whether they will be able to submit their applications on time. Advisors will also be worried as to whether they would be able to execute client orders in time.
To address these concerns, the registrar and transfer agent Computer Age Management Services (CAMS) has come out with an online service ‘eNFO’ to support online submission of NFO applications. It is another ‘industry first’ initiative from CAMS, which will simplify the application process for all participants. It will also enable AMCs to reach and collect applications from multiple cities where there are no official transaction points. The facility will be available to investors on the CAMS website, http://www.camsonline.com/.
Source : Money Life
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