Investment in units of Mutual Funds in the name of minor through guardian and ease of process for transmission of units

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....s of Mutual Funds/ Association of Mutual Funds in India (AMFI) Sir / Madam, Subject: Investment in units of Mutual Funds in the name of minor through guardian and ease of process for transmission of units In order to bring about uniform processes across Asset Management Companies (AMCs) in respect of investments made in the name of a minor through a guardian and to enable efficient tra....

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....l build a system control at the account set up stage of Systematic Investment Plan (SIP), Systematic Transfer Plan (STP) and Systematic Withdrawal Plan (SWP) on the basis of which, the standing instruction is suspended when the minor attains majority, till the status is changed to major. 2. Process for transmission of Units a. In order to improve the processing turnaround time for tran....

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....ng the unclaimed dividends. f. AMCs shall not accept requests for redemption from a claimant pending completion of the transmission of units in his / her favour. g. The Stamp duty payable by the claimant with respect to the indemnity bond and affidavit, shall be in accordance with the stamp duty prescribed by law. AMCs and AMFI shall promote the importance of nomination as a p....