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Follow on Google News | ![]() Money Assist Encourages Investors To Get Their Nominees FiledMoney Assist, mutual fund agent, appeals to investors to update their nominations by 31st March 2023. This is in accordance with SEBI mandate.
By: Money Assist SEBI required that all investors update their nominees for every portfolio. Failure to comply will result in an inability to update SIPs or redeem units. As one of the leading mutual fund distributors in India, we are looking to help spread awareness about the initiative of filing nominations. "SEBI (Securities and Exchange Board of India) is the watchdog for the entire mutual fund industry. SEBI has mandated that every folio be associated with one or more nominees. They are asking all the Asset Management Companies to ensure that their investors have updated nominees for every portfolio they are invested in. This is being done to prevent confusion and lengthy court cases in the event of death. Moreover, they are also looking to avoid the hassle of various claims by legal heirs of investors. If the problem of nomination is readily solved, then there is no need for hassle later on," said a representative for Money Assist. If you are among those people who are yet to update your list of nominees per portfolio, do reach out to the AMC concerned and then choose to get the details updated. In the event of failure to update the mutual fund nominee details, you will not be allowed to redeem units or engage in Systematic Investment Plan (SIP) payments or Systematic Transfer Plan from 1st April 2023. Choose to get in touch with the AMC from where you have purchased units to assist you with the course of updating nominees for every portfolio. If you do not want any nominees then you need to mention this as well explicitly. "As a leading mutual fund agent we appeal to investors to get this task done quickly for their own benefit. SEBI has given the last date as 31st March to all the AMCs to get this work completed. If investors do not comply with the mandate, their units will be frozen," said a representative for Money Assist. In conclusion, we would like all investors to comply with the SEBI mandate and update their nomination details as soon as possible. Not only will this ease up inheritance processes but also make things simpler for Asset Management Companies. About the Company: Money Assist is among Kolkata's leading mutual fund agents. As distributors for popular mutual funds they are responsible and straightforward in their dealing with clients. Website: https://www.moneyassist.in/ End
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