If you have old folios without such details, then you need to fix them as soon as possible. The mutual fund investors were asked to declare if the email and mobile numbers keyed into their folios belonged to them or their family members. The capital market regulator, the Securities and Exchange Board of India (SEBI) has, over time, been tightening the operational aspects when it comes to investing in MFs. For example, the one-time password (OTP) sent for login into the portal or approving transactions may not reach the investor at all if the phone or email does not belong to the investor.ĪLSO READ: Why a separate healthcare fund is a must for those living with Parkinson’s, Alzheimer’s diseases Over a period of time, such lapses can adversely affect the ability to transact. For example, some investors used to ask distributors to write the distributors’ mobile numbers and email ids as the contact information. Many times investors initiated investments without keying in the right inputs. Be it a paper route or an online route, while creating a new folio, these inputs are must.īut in earlier days it was not the case. If you fail to provide these or do not choose explicitly not to appoint a nominee, then the fund folios cannot be created. Nowadays, while creating new mutual fund folios, the fund house asks for KYC (know-your-client) details, contact details and nominations before allowing investments. Otherwise, a different folio number is issued.ĪLSO READ: FD rates for Senior Citizens: Banks that offer up to 9.1% interest on 3-year deposits For subsequent investments, you are supposed to quote the same folio number if you want to keep your investment under one folio. Each mutual fund house issues a separate folio number. Such folios can be used again to invest in schemes of mutual fund schemes. Simply put, if you sell all units of schemes held in a particular folio then it becomes a zero-balance folio. Mutual funds also allow zero-balance folio. Similarly, one can have multiple folios with a mutual fund house. One can have multiple accounts in a bank. Mutual fund folio can loosely be compared to an account in a bank. But this can be avoided if you just know how to manage your MF folios. As simple as it is to invest in mutual funds (MF) these days, keeping track of your portfolio can become quite a task if you have too many investments and too many MF folios.
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