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
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
International Mutual Funds Find Flavour But Lose Favour
Despite stellar performance, these funds are cold-shouldered by investors
The Dose Makes The Poison
Are your fund investments diversified? Or are they diworsified? Here’s the solution
'Since Sahi Hai drive launch, industry has grown over twofold'
The AMC’s marketing and corporate communication head also lauds MFCentral and MF Utility
'Earlier, not many knew of mutual funds; now SIP is a verb'
The CMO also explains how 4G, fintechs have elevated mutual funds’ reach
'MFCentral is the most impressive of online platforms'
Shah says though passive funds are growing, there’s a long road ahead
'Fintechs are driving mass financial inclusion'
Shah also lauds the pace at which distributors have embraced technology
'A Maldives tour guide knew of the Mutual Fund Sahi Hai drive'
Interaction with Edelweiss’s senior VP and head of products and marketing
'More distributors will come to MFCentral, MF Utility'
Goyal feels they can grow their business five times, 10 times with tech
'The size of passive funds has grown 36 per cent in a year'
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
