CAMS or Computer Age Management Services is working as a mutual fund transferring organization from one asset management company to another in India. It works as a technology-determined financial transportation and services supplier to mutual funds and other financial organizations. The head office of the firm is in Chennai, and it was founded in 1988. In 2020, CAMS got a reorganization of the publicly traded firm in October 2020 due to a stock launch offer provided by its already accessible investors and shareholders. CAMS is one of the market's primary Registrar and Transfer Agencies to the Indian Mutual Fund industry. As per reports of 2021, it provides almost 70% of the standard assets in management. Not only Mutual funds, but it also offers technology permit service solutions to other Investment Funds and Insurance corporations.
In early 1988, V. Shankar started Computer Age Management Services as a start-up, but in the starting, he created it for the purpose of Software Development and Computer Education. And CAMS proved as a capable business enterprise; in the early 1990s, within a small period of 3-4 years, he made it one of the big shot organizations in Chennai for the learning domain, somewhat like NIIT Chennai. But in the year 2000, CAMS decided to work on domestic financial services and also in the field of operation in management along with the IT services that they provide. The Indian Financial Services went through a renaissance in the period 1997/8-2006/7. It went through the modifications in the regulation, products, and assisting infrastructure. Financial businesses constantly proved to be early adopters, soon after commenced taking benefits of technology and networking to make their business easy, and CAMS turned into what is called platform-based offerings to the Indian Financial Industry. In 2000, the biggest accomplishment for the company was when the HDFC Group took interest and invested in Computer Age Management Services, assisting its selected businesses. In 2007 the corporation started using a/r facilitate assistance in its operations. At the beginning of 2014, India's Stock Exchange, known as the NSE, took a role in the corporation.
When CAMS was started, there was only a group of 20 employees, and they began method Transfer Agency operations at some point in the early nineties. CAMS had dealt with IPOs like IPCA Laboratories, Wockhardt Ltd, NCD problems of RPPL, RPEL, Crossland Research Labs Ltd, etc. CAMS got well recognized for processing the primary-ever allocation of cars for the Ford Escort Model, released in 1996 through Ford India Pvt Ltd. With the arrival of close-ended mutual funds, CAMS also took part in the processing of the Indian Bank Mutual Fund and later began to address the operations of Alliance Capital Mutual Fund. This turned into the primary Open-Ended Mutual Fund of CAMS. CAMS additionally got the responsibility of handling the prestigious Indian Mutual Funds like JM Mutual Fund, ITC Thread needle, Zurich India Mutual Fund, Sun & FC Mutual Fund, Dundee Mutual Fund, Taurus Mutual Fund, etc. According to the reports, in June 2020, there were more than 6 thousand employees in CAMS. It provides tons to the Mutual Funds, Insurance, and Banking businesses with the help of its network, which is spread in 270+ locations all over India.
Services presented by the CAMS
Cams are providing various services in different sectors; here is a list of all of them along with the sectors.
Services Offered to the Mutual Fund by means of ERP sort of IT Stages
Services by CAMS to the Non-Public Equity & Project Finances
Services provided to the Banks and the Firms which work as the Non-Banking Investment Corporation
Other NBFC Financial Accumulation Services
Central Record Keeping Agency (CRA) for National Pension System (NPS)
Edge360 is a dispenser portal preserved with the help of CAMS for allowing monetary and non-monetary transactions to self-governing Financial Advisors, their personnel, and Registered Investment Advisors. The majority of the monetary transactions may be completed with the use of Edge360, which includes a few non-monetary transactions such as converting the contact information of the investor, extruding bank permission, and check-in for CAMS one-time authorization accessibility. Besides these, the vendors can also download reviews like a declaration of account, capital benefit assertion, etc. And a lot of WBR reports sprinting their each-day trade. The portal lets mutual finance vendors run a campaign and initiate KYC for their buyers digitally.
According to the reports published in December 2018, CAMS made a nationwide existence with more than 280 Customer Service Centers, and some of these branches are connected concurrently. These CSCs usually present offerings to Mutual Fund, Insurance, Non-Public Equity, KRA, and NPS procedures. In these CSCs, the clients have a choice to enquire about everything related to their investments, gain the declaration of accounts, search for portfolio valuations, buy, sell, transfer mutual fund units, tell modifications of their account information, check in and publish KRA requests. CAMS has permitted self-servicing thru the financier and distributors by offering web pages on its website.
Memberships, links, accreditations of CAMS
Computer Age Management Services is known as the origin associate of the Registrars Association of India (RAIN). RAIN was established in the year 1991 with lots of members. RAIN is known as the voice (spokesperson) of Registrars and Shares transmit Agents in the whole country.
Apart from RAIN, CAMS is also a part of The National Association of Software and Services Corporations of the United States of America. CAMS is being regarded as a national standards organization for India's submissive association and is obedient to SOC 1 & 2 (UTC) Standard Service Associations Controls and has been working for the betterment of the country's financial firms for many years.