Those investors who hold mutual fund investments across a number of asset management companies (AMCs) can use a centralised platform of MF Central to manage their investments seamlessly.
MF Central, or Mutual Fund Central, is an all-in-one investment management platform where investors can keep track of all their mutual fund units at one centralised place.
This platform enables investors to transact across all folios without any hassle. Here, one can access their entire portfolio across mutual funds on a single platform.
There are four key functions investors can perform on MF Central: portfolio tracking, updating PAN details, applying for PAN and transmission request.
Here we describe as to how can one make a request of transmission of mutual fund units. This is, in fact, a process whereby units held by a deceased unitholder are transferred to the claimant who can either be a nominee or a legal heir of the deceased.
Step-by-step guide for transmission of MF units:
To apply for transmission of mutual fund units, one has to take the following steps:
1. At the outset, one must first create an account at this platform. For this, one must enter the basic details such as PAN or PEKRN (PAN Exempt KYC Reference Number) and mobile number. Once an account is created, one can log in and access the service of transmission of mutual fund units.
2. To apply for the transmission of units, the applicant to has write the name, PAN (permanent account number), mobile number and email ID.
3. After writing the PAN, the applicant is supposed to submit the deceased’s death certificate whose mutual fund units are to be transmitted.
4. Following this, the system prompts the investor to mention the key details such as the name of the fund house, folio, and nature of claim i.e., whether applicant is holder, nominee or claimant.
It is worth noting that transactions made on MF Central are considered safe with multiple layers of protection and data encryption, since it is the joint initiative of CAMS and KFintech — largest RTAs (register and transfer agencies).
