Five things to know about unclaimed mutual funds

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Five things to know about unclaimed mutual funds 

1. Mutual funds credit payments directly to the investors' bank accounts, but if they have chosen to receive a payment instrument and fail to encash it, it remains unclaimed.

2. The mutual fund invests this unclaimed amount in the money market and can charge up to 0.5% per annum as investment management fee.

3. If the investor claims the money within three years, then the payment is based on the prevailing NAV of the portfolio.

4. If, however, the investor claims the money after three years, then the payment is based on the NAV at the end of three years.

5. The fund house is required to continuously send reminders to the investors to claim their dues.


Economics Times
Thanking you

Regards,

Rajesh Kumar Kathpalia ¤ SMC Global
17,Netaji Subhash Marg,Daryaganj,
New Delhi-110002 Mobile No 9891645052
Email Id: rajesh.ipo@smcindiaonline.com


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