Geojit BNP Paribas launches mutual fund investment through NSE

MUMBAI: Geojit BNP Paribas Financial Services today launched trading in UTI Mutual Funds with its countrywide network of offices.

Speaking at the launch, Geojit BNP Paribas' Managing Director C J George said, "it is our constant endeavour to provide our clients with new value-added services. We will leverage our well-developed infrastructure and distribution channels to reach this service to our expanding client base of over 5,00,000.

While we are starting with UTI MF now, most of the funds will soon be available for investment through this route."

MFSS was launched with trade permitted initially only in select schemes of UTI Mutual Fund.

Clients of Geojit BNP Paribas can invest in or redeem mutual funds in such schemes through fully-automated on-line order collection system called NEAT-MFSS by contacting the nearest branch on all market days.

Through this service, investing in mutual funds and redemption will become as simple as investing in the stock market, a release issued here stated.

"There will not be any commission charged from clients during the month of December to attract investors into this service model," George added.

Geojit BNP Paribas Financial Services is one of the leading retail stock-brokers in India, with a strong presence in the Gulf countries and is listed on the NSE and BSE.