Amfi Kicks Off Move To Offer Navs On Its Site

The initiative is also aimed at providing a single window information service for mutual funds, which are the part of Amfi, to their investors. Currently, mutual funds issue separate releases of their daily/weekly NAV figures and then sent it to Amfi. AMFI intends to remove the duplication effort and make the data available to investors immediately after the calculation of NAV by the mutual funds.

To make the initiative functional, Amfi plans to make necessary changes in its software system wherein a fund will send the data across to Amfi electronically, which will automatically get updated on Amfi's website.

"The basic objective behind this idea is to provide all the data instantly on a single platform to investors. We intend to eliminate any kind of duplication of effort which could cause inconvenience to investors. Once everybody agrees we will submit the proposal to Sebi for its information and it is likely to get the regulators approval," said A P Kurian, Amfi chairman.