‘and forget’. That’s what experts advise you to do to reap the benefits of long-term . But what do you do if in the process, you totally forget about your (MF) . Fret not as we give you a lowdown on the ways to trace back your forgotten MF .
1. Search Operation
Check your primary email account or if you inherited a portfolio which was started pre-digitisation era, search for the paper documents. At the time of, MF companies usually send across an . It has important details about your like its folio number, your bank account number, residential address, units owned and other related details. In addition, half-yearly statements and emails are regularly sent to investors.
If you don’t have it, visit the websites of registrars (like) which offer free mail-back facilities. On keying-in your email or PAN number, it gives a consolidated statement of all your MF (including those managed by other registrars). However, if you have changed or have not registered your email while , it wouldn’t reflect in the statement.
2. Claim process
Once you get the folio number, approach the fund house or its registrar. Call up its customer care number or go to its nearest designated office. It will get you started on the claim process.
If you don’t want to do any transaction, just ask for a new. Finish the process if it is not yet done.
bank account details, residential address and the PAN number.and redemption cheques usually mention the name and bank account of the investor as it is in the records of the registrar. If you want to redeem, ensure you update your
If the investor is deceased, follow the necessary procedure by giving supporting documents such as death certificate and those relating to establishing the legal heir.
Investors making a claim up to three years from the due date of redemption or dividend are eligible to receive initial unclaimed amount along with income earned on its deployment in liquid funds. Thereafter, its income is used for the purpose of investor education by the fund house.
3. Be aware of rules
Investors can claim their funds anytime by filling up a specific form. As per the Sebi rules, liquid funds. Ensure you claim your money as soon as possible.need to park the unclaimed and redemption proceeds in
Investors making a claim up to three years from the due date of redemption or liquid funds. Thereafter, its income is used for the purpose of investor education by the fund house.are eligible to receive initial unclaimed amount along with income earned on its deployment in
Moreover, PAN has been recently made mandatory to redeemunits. So, update your details with PAN number.
4. Good Housekeeping
investors can avoid the above-mentioned problems by resorting to good housekeeping. They should regularly update their personal details such as residential address and bank account and email with the registrars. It will automatically reflect in records of all .
If they are receiving frequent, they should opt for the ECS option. It will directly credit the into the designated bank account, saving the leg work. Adopting the online mode will make the transacting process convenient and fast.
Also, they need to keep a proper record of, whether in paper form or electronic. Sharing it with a family member will make things easier in case of exigencies.
Folio number or PAN number can help you trace back your forgotten Share the investment records with your near-and-dear ones, so that they need not read this article.. To avoid repetition, ensure you regularly update your records and take the digital mode of transacting.
Frequently Asked Question
In order to trace lost mutual funds, all you need is to find the folio number. You can try checking your email for an old account statement and it should be containing all the required details to trace your lost mutual funds. If your PAN is updated it will be much easier as you will be getting a statement with all fund transactions every 6 months. The last thing is to approach the AMC or registrar with a letter containing as many details as possible to assist you with tracking your lost funds.
You can find all your mutual funds with the AMC as they should provide a consolidated account statement (CAS) on monthly basis with your mutual fund transactions. If you are looking into multiple funds then you can access www.camsonline.com and login into your account to find compiled details for all your funds.
You can track your daily mutual funds using the NAV (Net Asset Value), every fund house publishes every day the NAV of their assets which can be obtained from the fund house website. Multiply the NAV with the number of units held to get the current value of your mutual fund.
You can redeem your mutual funds offline by filling the redemption form with all the required account details including the number of units you want to redeem from your fund and submit to the fund manager. You can also visit your AMC or registrar and fill the redemption form directly.
Previously it was not easy to manage your mutual funds with the lack of tools and platforms, and you could do that only through a financial office, broker, or money manager. Now it became easier to manage your mutual funds online with multiple online platforms whether you prefer to do it directly with the investment company or a financial services company to manage multiple funds.