People invest at different points of time. Often it is seen that an investor makes a fresh
investment in a mutual 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 house
keeping by opting for consolidation of his/her 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 & 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.
Points to note..!
Mode of holding, bank mandate, address and
nomination details as mentioned in the target folio will be applicable &
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.
Courtesy: Centre for Investment Education and
Learning (CIEL).
Contributions by Girija Gadre, Arti Bhargava
& Labdhi Mehta.
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