Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.

Invest

11,464.0035.7
Stock Analysis, IPO, Mutual Funds, Bonds & More

How to consolidate your mutual fund portfolio

All folios held in the fund should be mentioned in the application. The target folio into which all other folios need to be consolidated should also be mentioned.

ET CONTRIBUTORS|
Oct 07, 2019, 06.30 AM IST
0Comments
Getty Images
mfc
A standard format for application can also be obtained on the mutual fund website.
While making fresh investments in an existing mutual fund, if the existing folio number is not mentioned as a reference, a fresh folio is created for the same holder(s). It is possible to merge all folios into one folio to be able to get a consolidated view of the investments. Consolidation of folios can be carried out only if the following conditions are met:

  • Names of holders and holding pattern of investments is identical across all folios.
  • Mode of holding is same across folios (joint/either or survivor.) Tax status of all investment is identical (NRE/Resident Indian/Corporate).
  • Signature, address, PAN and social status of investors is same.

Request for consolidation
Investors who wish to consolidate their mutual fund investments into a single folio need to submit a written application to the AMC/Investor service centre or to his/her investment adviser or agent to carry out consolidation. A standard format for application can also be obtained on the mutual fund website.

Information needed
All folios held in the fund should be mentioned in the application. The target folio into which all other folios need to be consolidated should also be mentioned.

Signature
The request needs to be signed by all unit holders, if the units are held jointly. However, in case the mode of holding is anyone or survivor, the application can be signed by any of the holders.

Processing of request
The duly filled up form can be submitted to the AMC or investor service centre. On receipt of form, a stamped acknowledgment is issued to the investor for reference. Once all details are verifi ed with AMC records, the request is approved and source folios are merged into the target folio.

Points to note
  • Folio consolidation can be done only at a mutual fund level. Folios held across different mutual fund houses cannot be merged.
  • If the folio being merged is under lien or pledge, prior consent of the financier is required to be enclosed with the application.

(Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)

Also Read

MF portfolio doctor: Mathur can reach goals easily, but needs to reduce clutter in his portfolio

Quarterly earnings will give opportunity to realign portfolios

What are the core and satellite strategy of building a portfolio?

Spike in gold prices weighs on 50% of Jhunjhunwala portfolio

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service