MF investor? Do the following TODAY!
If you are a mutual fund investor and wish to be well organized DO THE FOLLOWING TODAY:
- Make sure that ALL your investments have a nominee. EVEN if the units/shares are held in a joint name. Make your brother/sister/ son/ daughter/parent – as appropriate the nominee.
- Shift from dividend option to growth option – you will need to fill a form, as well as go to the Amc office, but it is worth the effort.
- For payout shift to DIRECT TO BANK mode. When you wish to redeem the money will get credited to your bank instead of the amc sending you the cheque
- Update your address, pan, aadhar and Mobile updated is the current one and is in use.
- Even in Growth mode bank updating is necessary for people to redeem
- When you make a will make sure that is in line with the Nomination.
- Change the nomination if appropriate
MOST IMPORTANT – DO IT TODAY!!
John
Very useful reminder. Have been delaying the direct bank mandate and address change. Need to get to it pronto.
ramesh
Nice useful to do list!! Thanks
On a related topic, have been getting lot of emails from almost fund houses informing change in TER (total expense ratio) figures..why is this suddenly started coming..what’s the driver? Any gyan on this topic in your blog will be appreciated.
Best Regards
Ramesh