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Benefits of making a nomination for a mutual fund

Saturday, April 28, 2018, 2:37 PM

If a nomination is made for mutual fund, the funds can be easily transferred to the nominee. If something happens to the investor and the nomination is not made, it will be difficult for heirs to claim the mutual fund investment. They have to submit documents such as WILL and NOC from other heirs to get the mutual fund investments transferred to their name.
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What is a nomination in mutual funds?

Saturday, April 28, 2018, 2:35 PM

A nomination is a process of appointing a person called the nominee to take care of your assets, in case something happens to you (The Unit holder). It is compulsory to appoint a nominee for the mutual fund schemes you hold. If you have mutual funds in the demat account, you must appoint a nominee for this account.
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What Is Nomination?

Tuesday, December 20, 2016, 7:07 PM

If you have assets you need to make a nomination where you state who inherit these assets on your death. The person you appoint is the nominee. The nominee transfers your wealth to your heirs (Children).The nominee is not the owner/inheritor of your wealth. He is a protector/trustee of your wealth and makes sure your beneficiaries (heirs) receive the money.

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