Attention MF investors: Update your nomination details or opt out of nomination by Sept 30, 2023
This is to inform you that, in accordance with SEBI Circulars #SEBI/HO/IMD/IMD–II DOF3/P/CIR/2022/82 dated June 15, 2022, and SEBI/HO/IMD/IMD-I POD1/P/CIR/2023/47 dated March 28, 2023, all existing individual mutual fund unit holders who have not yet registered their nomination or opted out of nomination must do so before September 30, 2023. If they fail to do so, their folios will be frozen for any debits, including redemption.
What is nomination?
Nomination is a process by which you appoint a person to receive your mutual fund investments in the event of your death. This ensures that your loved ones have access to your financial assets quickly and easily, without having to go through a lengthy legal process.
How to update your nomination details or opt out of nomination
You can update your nomination details or opt out of nomination online using the following links:
- CAMS: https://www.camsonline.
com/Investors/Service- requests/Nomination/ Nomination-Opt-in_&_Opt-out - KARVY: https://mfs.kfintech.
com/investor/General/ NCTNomineeUpdation
To use the online facility, you must have your PAN and either email or mobile number registered with your mutual fund folio. If your folio has joint holders, the contact details available in the KYC records will be used for all joint holders, and OTP validation from all holders is mandatory to update the details online.
If you are unable to update your nomination details or opt out of nomination online, you can contact your mutual fund company for assistance.
Why is it important to update your nomination details or opt out of nomination?
By updating your nomination details or opting out of nomination, you can ensure that your loved ones have access to your mutual fund investments in the event of your death. This will help them to avoid financial hardship and ensure that your financial legacy is preserved.
We urge all existing individual mutual fund unit holders to update their nomination details or opt out of nomination before September 30, 2023.
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