Nomination is a facility that enables an individual unitholder (including sole proprietor of sole proprietary concern) to nominate a person, who can claim the Units held by the unitholder or the redemption proceeds thereof in the event of death the unitholder. If the Units are held jointly by more than one person, all joint unit holders are required to together nominate a person in whom all the rights in the units would vest in the event of death of all the joint unit holders. As per Regulation 29 A of SEBI Mutual Funds Regulations, 1996, mutual funds are required to provide an option to the individual unitholders to nominate in the manner specified in the Fourth Schedule.

Who cannot be a nominated?
The Nominee shall not be a trust (other than a religious or charitable trust), society, company/body corporate, partnership firm, Hindu Undivided Family (H...
Tue, 21 Mar, 2023 at 6:30 PM