Five things to know about unclaimed mutual funds

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


--
You received this message because you are subscribed to the Google Groups "Product Updates for AMC" group.
To unsubscribe from this group and stop receiving emails from it, send an email to Productupdatesforamc+unsubscribe@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.

Comments




I would like to request you to join our following services.
It is the smartest way to stay on top of latest Mutual fund, Bonds & IPO News .

 Product Updates on whatsapp


 Product Updates on Email 

                                                   
 Product Updates on Telegram



You will get daily news updates for FREE. 
I also request you to spread the world by referring us to the smartest people you know.  

To share it with your friends, 
just Copy below message it & paste in your group

Subscribe to Our WhatsApp, Email & Telegram Update Service ! https://bit.ly/3ryhxBM
     

Popular Posts

FinMin to give in-principle approval for UTI Mutual Fund IPO soon

Key Trigger Points for Market

Reliance Mutual Fund lowest bidder for managing NPS