Mutual Fund Nominee: Where to Check or Update Details Online Before Last Date September 30
Mutual Fund Nominee Update Last Date: For all existing mutual fund unit holders, it is mandatory to nominate or opt out of nomination before September 30, 2023, failing which the folios shall be frozen for debits, according to the Securities and Exchange Board of India (SEBI).
The nomination facility enables unitholders to nominate a person, who can claim the units held by the unitholder or the redemption proceeds in the death of the unitholder. In case, units are held by more than one person, then all joint unitholders are required to nominate a person in whom all the rights in the unit would vest in the event of the death of all joint unit holders.
You can update the nomination or opt out of it by reaching your mutual fund asset management company (AMC) or Registrar and Transfer Agents (RTA). This can also be done online through the AMCs or the RTA’s website or through platforms like MF Utilities and National Securities Depository Limited (NSDL), CAMs and KFintech.
You can check the nominee of your funds from your AMC. The Mutual Fund statements shared by the AMCs also show whether you have opted for a nominee or not.
Also Read: Should you opt for Balanced Advantage Funds? Find out
The last date for the updation of mutual fund nominees is September 30, 2023.
In case a unitholder does not nominate or opt out of nomination before September 30 then his/her mutual fund folios will be frozen for any debit transactions. Further, such investors would be unable to redeem their mutual fund units or make modifications to their investment portfolios.
Nominee Updation through CAMs and KFintech
The facility to update mutual fund nominees for all individual investors with non-demat folios has been enabled by CAMs and KFintech.
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