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Let’s assume a situation the place your father had invested within the ‘Dividend’ plan of UTI Mastergain in Could 1992 when the scheme was launched. The price of 500 models would have now turned to round Rs 75,000. He would have invested round Rs 5,000 at the moment (500 models at an NAV of Rs 10) – that is an annualised return of near 12 per cent.
Earlier than we transfer on to telling how one can get these models transferred in your identify, be aware that the identify of UTI Mastergain was modified to UTI Fairness Fund in 2005. And now, it has additional modified to UTI Flexi Cap Fund.
Getting the models of a mutual fund scheme transferred within the identify of the nominee normally requires submitting the under paperwork with the fund home:
- Transmission request kind (Type T3): It is a request kind to get the models transferred within the identify of the nominee or a authorized inheritor. You may obtain the shape from right here.
- Loss of life certificates: The unique dying certificates copy of your father can be required. The fund home could accept an attested copy by a gazetted officer or a notary public.
- KYC paperwork: You’ll have to submit a duplicate of your PAN and tackle proof so as to fulfil the KYC necessities.
- Cancelled cheque: A cancelled cheque of your checking account the place you want to obtain the funds when redeemed.
Nevertheless, if the nomination isn’t registered within the information of the fund home, you’ll have to submit the next paperwork along with the above.
- Attestation of your signatures by the supervisor of your financial institution in a prescribed format – Annexure-1a. Click on right here to obtain it.
- Any acceptable doc evidencing your relationship together with your father. Paperwork like PAN, start certificates or passport which have your father’s identify ought to normally suffice the requirement.
- An indemnity bond in a prescribed format (Annexure-II) by all different authorized heirs. That is primarily a affirmation sought by the fund home that they haven’t any points with you claiming the cash alone. Annexure-II may be downloaded from right here.
As soon as the models are transferred in your identify, you possibly can place the redemption request. And the funds would get transferred to the checking account of which you had given the cancelled cheque.
Advised learn: Can I reward a mutual fund to somebody?
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