How to locate your mutual fund portfolio if you've lost track

Question: Before I came to the Gulf I had invested a part of my savings in units of mutual funds. Unfortunately I have not been able to trace the investments due to my relocation. Is there any possibility of retrieving my investments through any platform?

- HP Ranina

ANSWER: Currently there is no certainty of locating the investments especially where they become dormant and remain unclaimed for different reasons.

Therefore, the market regulator, the Securities & Exchange Board of India, is proposing to set up a portal to be called Mutual Fund Investment Tracing & Retrieval Assistant (MITRA). This will be set up by CAMS and KFintech, which are two leading registrar and transfer agents. Once MITRA is set up, investors would be able to locate their mutual fund investments, ensure current KYC compliance, and implement protective measures against fraudulent withdrawals.

It has been found that mutual fund investors lose track of their investments, particularly those which were made in the past in physical form.

These mutual fund accounts may not appear in the unit holder’s consolidated account statement due to missing e-mail id or a valid address. Further, heirs of deceased investors may find it difficult to claim the units.

It is expected that by the next financial year, MITRA would be able to provide investors with a searchable data base of inactive and/or unclaimed mutual fund portfolios. The registrar and transfer agents would take responsibility for regulatory compliance as well as system and cyber security audits.