As per the white paper submitted by the Association of Registered Investment Advisors (ARIAS), the value of unclaimed mutual fund units alone is 24,000 crore. This is an astonishingly high amount, given that anyone would want that their assets should belong to their loved ones after they are no more. Many times, the money goes unclaimed because the legal heirs are unaware of it, or they don't know how to claim it. The process can become cumbersome in case there is no nominee registered and there is no will either. Here is a detailed account of what all you need to do and the documents one needs to stake a claim to the mutual fund investments as a nominee or legal heir or beneficiary.
What one needs to do
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Interaction with Edelweiss’s senior VP and head of products and marketing
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Parija explains how mutual funds have gained traction
Tomorrow, and tomorrow, and tomorrow...
There are a total of about 1.1 lakh crores of rupees invested in India’s mutual funds and the number of investors is now about 12 crore
