Mutual Fund : Regulator Securities and Exchange Board of India (SEBI) issued a circular on June 15, 2022, making it mandatory for mutual fund customers to provide nominee details on or after August 1, 2022 or not to choose this option. Had given. Later the last date was changed to October 2022.
Mutual Fund Returns: There is big news for mutual fund investors. Existing investors of mutual funds have a deadline of March 31 to nominate a nominee or not to choose this option. If the nomination is not made, the accounts of the investors will be closed and they will not be able to withdraw their investments. If they do not want, they will have to give a declaration to the fund houses that they do not have any nominee. Because of this, he will not be able to take part in the nomination.
Regulator Securities and Exchange Board of India (SEBI) had issued a circular on June 15, 2022, making it mandatory for mutual fund customers to provide nominee details on or after August 1, 2022 or not to choose this option. Later the last date was changed to October 2022. The last date for all existing mutual fund accounts (including joint accounts) has been extended to March 31, 2023, after which you will not be able to withdraw money from the account.
What did the experts say
Explaining Sebi’s motive behind this move, Niranjan Babu Ramayanam, Chief Operating Officer (COO) of Anand Rathi Wealth Limited said that there could be many investment accounts in the past, which would have been opened without making anyone a nominee. If the event happens, the money can be transferred to the nominee.
Nomination is mandatory for investors in all mutual fund portfolios. If you apply for nomination through offline physical form, you will also have to sign it. Apart from this, you can choose the option of e-sign for online nomination. Please tell that those with joint accounts will also have to make nomination.
What are the advantages of SIP
It is worth noting that looking at the future, people invest in different schemes. They get more returns as compared to FD, PF or any other scheme. People invest in mutual funds through Systematic Investment Plan (SIP). It has also happened when people got 12-14 percent returns through some popular SIPs. It should also be noted that investment in SIP can also be risky.
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