Frequently Asked
Questions

As per the SEBI Circular no. CIR/IMD/DF/21/2012 dated September 13, 2012, a new cadre of distributors are categorized such as postal agents, retired government and semi-government officials (class III and above or equivalent), retired teachers and retired bank officers with a 
service of at least 10 years, and other similar persons (such as Bank correspondents) as may be notified by AMFI/ AMC from time to time, has been allowed to sell units of simple and performing mutual fund schemes.

Subsequent to SEBIs circular, AMFI included the following persons under the new cadre:

1) Intermediaries/ Agents engaged in distribution of financial products e.g. insurance agent, FD agent, National Savings Scheme products, PPF, etc. registered with any other Financial Services Regulator.

2) Business correspondents appointed by Banks.

Simple and performing mutual fund schemes shall comprise of diversified equity schemes, fixed maturity plans (FMPs) and index schemes and should have returns equal to or better than their scheme benchmark returns during each of the last three years. 

Yes, These new cadre of distributors are required to complete a simplified form of National Institute of Securities Market (NISM) certification. The NISM has launched the Continuing Professional Education (CPE) and Test programme for the new cadre of Distributors and registration for the same commenced from January 14, 2013. 

Yes. The new cadre of distributors would require AMFI Registration prior to empanelling themselves with the AMCs and further to distribute mutual fund products

AMFI has prescribed registration fee of Rs.1,500/- for three years for this new cadre of Distributors. However, AMFI has waived registration fees for all the distributors registering for the first time in the categories of Individuals (including Sr. Citizen) and new cadre of Distributors
during the period from 1st February 2013 to 31st March 2014, subject to fulfilling of certain conditions

The conditions to be fulfilled are: 

i) Senior Citizens are Individuals who qualify under the criteria stipulated by SEBI i.e. a person who has attained age of 50 years as on May 31, 2010 (OR) has at least 10 years experience in the securities market OR/ AND in distribution in Mutual Fund products as on May 31, 2010. 

ii) New cadre of Distributors should be compliant with the criteria mentioned in the SEBI Circular dated September 13, 2012. 

iii) Individuals, Sr. Citizens and new cadre of Distributors should have valid Certificate for passing NISM Examination/ attending CPE Programme. 

 Iv) ARN Card issued shall be valid upto 3 years from the date of passing the date of NISM Examination / attending CPE Programme. However, renewal of ARN after 3 years shall be subject to payment of prescribed fees, as applicable at the time of renewal.

v) The application made for registration under this scheme (waiver of fees) should be accompanied with all other stipulated documents specified in the ARN Registration Form.

For commission structure details, please contact Mr. Nilesh Gawle - AVP Channel Sales - Email - [email protected] | Mobile – 9324445938

Even an SEBI Registered Investment Advisor (RIA) can become a Partner with Quantum Mutual Fund.

Online:
1. Click on the tab "Partner Corner” > Get Empanelled.

2. Partner to enter either broker code / RIA code (for e.g. If the ARN code is 12345, the partner needs to enter “12345”) and accept the terms and conditions.

3. If Partner has not done the registration with Quantum MF – System will take to the next screen of OTP Verification.
On the OTP Verification Screen – There are 3 scenarios based on the availability of contact details –
Scenario 1 -
Partner/RIA is already registered with any Kfintech Serviced Fund House. Also the e-mail ID and mobile number are available in Kfintech records
• System will populate the contact details (masked). Also the partner will get an option to add alternate email ID and mobile number. And the OTP will be sent to the registered details as well as on the alternate contact details.
• Post successful OTP validation using the already available contact details, the System will allow the Partner/RIA to go to the ‘Partner Details’ screen, pre-populate all the available details and submit the request.
Scenario 2 -
Partner / RIA is already registered with any Kfintech Serviced Fund House. However, the e-mail ID and / or mobile number is not available or old contact details registered in Kfintech records are not updated:
• The System will allow the Partner to enter his / her contact details (e-mail ID & mobile number) an OTP will be sent to the registered details.
• Post successful OTP validation, the system will allow the Partner to go to the 'Partner Details' screen.
• On this screen, name, e-mail ID and mobile number would be pre-populated and other details will have to be entered by the Partner/RIA to submit the request.
Scenario 3 -
Partner / RIA is not registered with any Kfintech Serviced Fund House.
• The System will allow the Partner to enter his / her contact details (e-mail ID & mobile number) and OTP will be sent to the registered details.
• Post successful OTP validation, the system will allow him / her to go to the 'Partner Details' screen.
• On this screen, name, e-mail ID and mobile number would be pre-populated and other details will have to be entered by the Partner to submit the request.

4. Validate your contact details through OTP Verification Screen

Only if a distributor is empaneled with us, and fulfills all the terms of ARM as specified by AMFI and/or SEBI; will receives the commission.

Click here to go through the Terms and Conditions.

Distributor commission is a fee paid by Quantum Mutual Fund (QMF) to the Distributors empaneled with QMF and investments are made through valid ARN in QMF schemes. Distributor Commission is only in trial is calculated as a percentage on the Funds Invested, the trail fee rate card is differs from scheme to scheme.

Distributor Commission payment will be made through RTGS/NEFT only. For distributors whose complete bank mandates are NOT available, please furnish the bank mandate along with a cancelled cheque or a copy of cheque at the earliest. Distributor commission statement shall also be sent by email only.  

The amount of the commission payable to the Partner will be directly credited to his account via NEFT/RTGS in case of the valid IFSC code and Core Banking account number is provided. If payment through both the mode is unsuccessful then we request the partner to provide the new bank details and once the partner updates the bank details in our records, we will release the payout/s.

Yes, you can distribute our funds online after signing an Online Distribution Agreement with us.

Quantum Mutual Fund does not deduct Transaction Charges and shall continue not to deduct Transaction Charges as allowed under SEBI Circular No. Cir / IMD / DF/13/2011 dated August 22, 2011.

Guidelines for Processing of transactions received under Regular Plan with invalid ARN

“Invalid ARNs” shall include the following situations –

1) ARN validity period expired.

2) ARN cancelled /terminated.

3) ARN suspended.

4) ARN Holder deceased

5) Nomenclature change, as required pursuant to IA Regulations, not complied by the MFD.

6) MFD is debarred by SEBI.

7) ARN not present in AMFI ARN database.

8) ARN not empaneled with an AMC.

Note:

1) *If the EUIN is invalid/missing, the transactions shall be processed in Regular plan, and the distributor/investor shall be given 30-day period from the date of the transaction for remediation of the EUIN. In such cases, the investor to be advised to either provide a different EUIN linked to the ARN who would be engaged in servicing the investor OR switch to Direct Plan. The commission shall not be paid to the ARN holder if the Switch transaction does not happen, or fresh EUIN is not provided within 30 days. The commission may be paid if the fresh EUIN is provided by client within 30 days.

2) For SIP & STP facilities, the ARN validity shall be verified / validated at the time of registration. For instances where the registration details not available in RTA records the transaction shall be treated as lumpsum purchase for validations. Distributors must reconcile the active / inactive SIPs with RTAs at regular intervals.

3) SIPs registered under ARN of deceased to continue till end of SIP registration period or investor’s request as per AMFI guidelines; No fresh transactions or SIPs to be booked under the ARN of deceased MFD post cancellation of ARN at AMFI.

4) Only Sub-distributor’s ARN with valid “ARN-“values in the transaction will be considered for validation of Sub- distributor ARN for all types of transactions (lumpsum/SIP/STP).

5) If the ARN is invalid as on date of SIP / STP registration, such registration and future transactions thereunder will be processed under DIRECT plan. 

6) Transactions other than the physical mode which are found to be not in order basis above matrix, will be rejected at the time of upload / submission for following reasons: To give opportunity for the intermediary / platform to rectify details before submitting transactions or to report transactions as DIRECT.

If these transactions are accepted and processed as DIRECT, the intermediary placing the transaction will not be receiving reverse feeds and hence will not be able to reconcile.

Since the validation cannot be carried out at the time of acceptance 3or transactions received in physical form, , the same will be done at the time of processing the transaction, and if found to be invalid, the transaction will be processed under DIRECT.

7) Transactions received from the stock exchange platforms in Demat mode with invalid ARN shall be rejected instead of processing in Direct Plan for following reasons – Settlement of units will fail at clearing corporation due to mismatch of ISIN.

If the RTA processes the transaction in DIRECT Plan, the AMC will face issues with corporate action wherein the clearing corporation will not be able to reconcile and credit the units.

The distributor/broker will not be able to download the reverse feed/mail back report for the transactions reported by the respective distributor in case if we process under Direct Plan.

8) Dividend reinvestment transactions, being a corporate action, will be excluded from the above validation. 

In our never-ending endeavor to empower our Partners, we at Quantum have launched this new Partner Platform that aims to help our Partners earn Trust, Faith and Respect amongst the millions of investors.

The first step is to register with us. Post registration Partners can avail of all the benefits the platform offers.

ONLINE KYC to help Partners acquire investors across the globe while operating out of their offices.

PATH TO PARTNERSHIP - An exclusive Awareness & Education initiative for Partners to provide them with a broad perspective on the Mutual Fund industry and tips to upscale their advisory growth journey.

SAVE GREEN, GO PAPERLESS - We support SEBI’s ‘Go Green initiative in Mutual Funds’ and the ‘Digital India’ project by the Government of India. Hence, we urge all our Partners to support us in this endeavor to create a paper free work environment and help speedup efficiency and automate business processes.