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Our Bureau

Hyderabad , May 27

KARVY Computershare Private Ltd on Friday announced its association with JM Financial Mutual Fund.

Under this arrangement, Karvy would act as JM Financial's exclusive registrar and share transfer (R&T) agent in India.

In a press release here, Karvy said the inclusion of an esteemed fund house such as JM Financial to its portfolio has further broadened its penetration in the mutual fund registry business.

This, Karvy said, is an outcome of global capabilities and local expertise in carrying forward the legacy of comprehensive registry management services in India.

As a practice, R&T costs are charged to the NAV of a fund and not to the asset management company. Hence, costs such as these are of utmost importance for any fund house as lower cost improves returns. It said it would be in a position to deliver, while simultaneously not compromising on the service standards.

Stating that Karvy would take the mission forward of offering quality services at lower costs in compliance with international standards, the Karvy Managing Director, Mr C. Parthasarathy, said, "Our huge market infrastructure, high quality standards and state-of-the-art technology gives us huge economies of scale and we strongly believe in passing the benefits to the end consumers."

Commenting on the development, the JM Financial Chief Executive Officer, Mr Krishnamurthy Vijayan, said: "Our association with Karvy Computershare will double the investor service officers currently on offer to our investors and will provide them with a substantially faster and more accurate service turnaround. Karvy's global ethical and corporate governance standards will enhance investor protection and will offer number of service enhancements to investors."

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