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Consolidation of Mutual Fund Folios

People invest at different points of time. Often it is seen that an investor makes a fresh investment in a fund without quoting an existing account folio number with the same fund house. After some time, it gets difficult to monitor these investments held in different folios. An investor can ensure good housekeeping by opting for consolidation of his folios in a particular fund. This makes it easier to manage investments in mutual funds.

Conditions for consolidation

Investors can opt for consolidation of two or more folios if the following parameters are same across all the folios that are being consolidated: Holding pattern Mode of holding Address Tax status and nominee details

Application

The investor is required to submit a letter to the AMC registrar stating all the folio numbers that are to be consolidated into one primary folio. Investors can also download a form for consolidation of folios available with the AMC or its registrar.

Information

The investor needs to mention the source folio numbers and select one target folio number into which the source folios will get merged. The consolidation request must be signed by all holders as per the mode of holding. Updated contact details, holding pattern and PAN of investors must be mentioned in the form.

Submission

The folio consolidation request may be submitted at the AMC official points of acceptance of transactions. An acknowledgement is issued, which can be used as a reference for follow up. After verification, the AMC may merge the investments to the target folio.

Mode of holding, bank mandate, address and nomination details as mentioned in the target folio will be applicable and shall prevail after consolidation of the folios.

Folios where pledge or lien has been marked are not available for consolidation as this requires the consent of financier.

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