Trace Your Forgotten MF Money
Invest And Forget
‘Invest and forget’. That’s what experts tell you to do to reap benefits in the long-term.
But what do you do if in the process, you totally forget about your mutual fund investments? Here are a few ways to trace back your forgotten MF investments.
Run A Search
Check your primary email account, or if you inherited a portfolio from years ago, search for the paper documents.
MF companies usually send across an account statement at the time of investment, with folio number, bank account number, units owned etc.
If You Can’t Find The Account Statement…
Visit websites of registrars (like CAMS) which offer free mail-back facilities.
On keying-in your email or PAN number, it gives a consolidated statement of all your MF investments (including those managed by other registrars).
The 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.
Dividend 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 bank account details, address and PAN number.
What If The Investor Is Deceased?
In this case, follow the necessary procedure by giving supporting documents such as death certificate and those relating to establishing the legal heir.
Investors can claim their funds anytime by filling up a specific form.
As per SEBI rules, MFs need to park the unclaimed dividends and redemption proceeds in liquid funds.
Ensure you claim your money as soon as possible.
MF investors can avoid these problems by resorting to good housekeeping.
Regularly update your personal details such as residential address and bank account and email with the registrars.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.