The best thing one can do in a world full of uncertainties is to always be ready for the unexpected. And this can be achieved by organising your finances.
Services related to mutual funds have been available for a while now. Besides, it is the preferred investment choice for millions of Indians.
Investor nominations for mutual fund holdings have long been welcomed by the Indian mutual fund sector. The Securities & Exchange Board of India, which oversees the capital markets, made it mandatory for MF investors with active folios including those held jointly this month to either nominate someone or choose not to do so. On October 1, 2022, the regulation came into force for new folios. Existing folio investors who break this rule will have their investments frozen and won’t be able to make any changes to them. The last date to nominate a candidate will be March 31, 2023.
So, if you still haven’t nominated someone in your mutual fund investment, then here’s how you can add a nominee: