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Do You have Any Pending Mutual Fund Work?


This post is not about selection,holding or reshuffle of the different mutual fund schemes.But about any technical thing if you are missing about.One should take care of things so that transactions like redemption,additional purchase will be easier in future.

  • NEFT /E-payout Facility: One need to check that NEFT facility is availed by you or not.Its important as redemption / dividend money will directly credit in your account,without hassles of receiving the cheques.if you miss to opt for direct credit facility then you need to just fill up the NEFT facility form and need to submit it at AMC / Registry office with supporting documents.
  • Addition / deletion Of Bank Account:Most of mutual fund houses offer investors to attach upto 3 bank account to their folio.If anyone wish to add the bank account then need to submit the service request form for the same alongwith required documents.If one wish to delete the registered bank account then also need to provide a proof like cancelled cheque etc.If you have already closed the said bank account then letter from respective bank is required which confirms the closure of the same.
  • Addition / Deletion Of nominee: It can be done by submission of simple request form about the same.
  • Change in Guardian for minor nominee:This can be done again by submission of simple request form.
  • Change of address: Address of mutual fund investor is picked from KYC database from CDSL.To change the address in the database one need to submit the change request form at KYC collection centres or point of services [E.g. karvy computershare,CAMS office].
  • Folio Merging:If you have multiple folios with single mutual fund house then I think it is convenient to merge them into single folio.This is possible only if all folios have same bank account number / nomination is registered.

These are just pending representative works only.There may be number of pending works like change of contact details,registration of e-mail id with AMC,signature change,name change,registration of pan number in case of very old folio number and ……………..


Category: Mutual Funds

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Information provided on this blog is for general purpose only & not investment advice.Please take advice of SEBI Registered Investment Advisors before taking any investment decision.
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