Kolkata MFD sets an industry record of 4001 SIPs in a single day with MF Utilities
MF Utilities (MFU) has been on the track of fast growth, having witnessed substantial market expansion in the mutual fund (MF) industry, with an increasing number of MF distributors (MFDs) using MFU’s technology platform. Among these, one name that warrants attention is that of MFD Saiyad Jiyajur Rahaman, MD, and CEO of Moldarin Investmart, as he has achieved the noteworthy feat of enrolling 4001 Systematic Investment Plans (SIPs) in a single day on 18th Feb,2022, the highest-ever number on any platform. The maximum number of investors are from B 30 location. With the idea of facilitating people with the power of investing and transforming their lives, Mr. Rahaman began his MF business with the inception of Moldarin Investmart in January 2021.
Mr. Rahaman currently has over 4k active SIPs and is on track to reach the 5k mark in FY21-22. With an experience of over 15 years in the financial markets, he contributes his insights to all strategic decisions made at Moldarin. Mr. Rahaman has also acquired Mumbai-based LFS Broking. This acquisition signals his aspirations to grow the company into a full-service financial powerhouse, with a presence in over 70 locations across India. Moldarin Investment presently has over 1500 clients spread across Gujarat, Maharashtra, Rajasthan, Delhi, and the Eastern states.
Activating 4001 SIPs, Mr Rahaman relied substantially on MFU’s futuristic platform, which supports digital and multi-dimensional transactions. The platform provides the ease of onboarding and transacting with a faster turnaround time, with the use of state-of-the-art digital infrastructure. The industry needs more distributors, and MFU has brought in a transformation that is viable and scalable. The MF industry will greatly profit from how MFDs have been leveraging this revolutionary platform, which will ease the workload for clients and all stakeholders alike.
Highlighting the success, Mr Saiyad Jiyajur Rahaman, MD and CEO of Moldarin Investmart, said, “The last two years have been particularly difficult for those who did not have an emergency fund or an investing strategy to fall back on. Given this environment, my principal purpose had been to promote MFs and position them as a viable alternative to traditionally recommended fixed deposits. The entire process necessitated extensive engagement, with both existing and prospective customers. We achieved this by accentuating the significance of adopting a safety net and highlighting the advantages of MFs. These customers were educated about the risks and advantages of asset allocation in mitigating the impact of a decline in their investment portfolio. The key challenge was to bring both existing and first-time investors on board and have them clearly understand the merits of investing in SIPs.”
According to Mr Ganesh Ram, MD & CEO, MF Utilities, “We have been witnessing MFU’s platform being utilized by an increasing number of MFDs and RIAs. The system’s expansion and progressive effectiveness over time is truly phenomenal. It is gradually becoming a reputable and dependable platform that will play a pivotal role in the progress of the MF industry. The potential for MFU to become a one-stop platform for the entire industry is what drives MFDs to capitalize on MFU’s interface in growing their consumer base. This success story will be an inspiration for many other MFDs in harnessing MFUs platform.”
Digitization is the future, and MFU is committed to enabling MFDs to expand their products with increasing speed and reduced effort, with its digital ecosystem and product innovation. Being a technology-enabled platform, MFU is instrumental in creating opportunities for these MFDs by bringing in a clear edge in saving time and operational costs. By strengthening the overall functionality of MFDs and RIAs, MFU has been enhancing its platform with a technologically advanced user interface. By leveraging these augmented offerings, investors and MFDs can expand their reach and achieve a faster response rate.