Explained: Sebi simplifies mutual fund transmission process. Here's what it means for investors
Mutual fund units are typically held either in a single name with a nominee registered or jointly with one or more investors. The transmission process
Mutual fund units are typically held either in a single name with a nominee registered or jointly with one or more investors. The transmission process depends on the pattern of holding.
In case of the death of the first holder in a joint account, the mutual fund units will be transferred to the surviving holder. For
single-holder investments, the units will be transmitted to the registered nominee upon submission of required documents, including the death certificate and bank details. Nominees must
complete KYC, if pending, before the transmission is processed.
The BriefWire