How to Get unclaimed MF payments
Mutual fund payments of investors who do not opt for NEFT facility, and then fail to encash the payment instrument, remain unclaimed. If the address of the investor changes, the cheque may not get delivered. The investor may have closed the registered bank account and may not have updated the change with the mutual fund.
As per Sebi guidelines, such funds have to be invested by the fund house in short term debt instruments. Net asset value (NAV) of these funds is also calculated .Fund houses can charge up to 0.5% per annum as investment management fee. Investors can claim their money by following the given procedure:
Communication
The first step for the investor is to identify why the amount has remained unclaimed and communicate the reason to the mutual fund.
Information update
If address change is the issue then the investor must first get the address updated through the KYC Details Change form. To update bank account, the investor must fill up the Bank Account Registration form and provide a cancelled cheque of the new account.
Letter of indemnity
In order to receive a new payment instrument, the investor must provide a letter of indemnity in the format pre scribed by the mutual fund, citing the folio number, scheme details and details of unclaimed payment.
Applicable NAV
If investors claim the money within three years, then the payment is based on the prevailing NAV of the portfolio. If investors claim money after three years, the payment is based on the NAV at the end of the three years.
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
Leave a missed Call on 94 8300 8300
Leave your comment with mail ID and we will answer them
OR
You can write back to us at
PrajnaCapital [at] Gmail [dot] Com
---------------------------------------------
Invest Mutual Funds Online
Invest Any Mutual Fund Online
Download Mutual Fund Application Forms from all AMCs
Download Mutual Any Fund Application Forms
---------------------------------------------
Best Performing Mutual Funds
- Largecap Funds Invest Online
- DSP BlackRock Top 100 Fund
- ICICI Prudential Focused Blue Chip Fund
- Franklin India Bluechip
- ICICI Prudential Top 100 Fund
B. Large and Midcap Funds Invest Online
- ICICI Prudential Dynamic Plan
- HDFC Top 200 Fund
- UTI Dividend Yield Fund
- Birla Sun Life Front Line Equity Fund
- Franklin India Prima
C. Mid and SmallCap Funds Invest Online
- Reliance Equity Opportunities Fund
- DSP BlackRock Small & Midcap Fund
- Sundaram Select Midcap
- IDFC Premier Equity Fund
- Birla Sun Life Dividend Yield Plus
- SBI Emerging Businesses Fund
- HDFC Mid-Cap Opportunities Fund
- ICICI Prudential Discovery Fund
D. Small and MicroCap Funds Invest Online
- DSP BlackRock MicroCap Fund
- Franklin India Smaller Companies
E. Sector Funds Invest Online
- Reliance Banking Fund
- Reliance Banking Fund
- ICICI Prudential Banking and Financial Services Fund
F. Tax Saver Mutual Funds Invest Online
1. ICICI Prudential Tax Plan
2. HDFC Taxsaver
- DSP BlackRock Tax Saver Fund
- Reliance Tax Saver (ELSS) Fund
G. Gold Mutual Funds Invest Online
- Relaince Gold Savings Fund
- ICICI Prudential Regular Gold Savings Fund
- HDFC Gold Fund
- Birla Sun Life Gold
H. International funds Invest Online
1. Birla Sun Life International Equity Plan A
2. DSP BlackRock US Flexible Equity
3. FT India Feeder Franklin US Opportunities
4. ICICI Prudential US Bluechip Equity
5. Motilal Oswal MOSt Shares NASDAQ-100 ETF
Posts
0 comments:
Post a Comment