Exactly two months before the expiry of the deadline for nominating a nominee for mutual fund folios, Sebi made the process optional for investors who hold accounts in joint mutual fund folios
The recent consultation paper by Securities & Exchange Board of India (SEBI) points out that 70% of the demat accounts with a single holder have opted out of appointing a nominee.
Out of the total equity inflow in mutual funds, nearly ₹3,857 crore was seen in smallcaps and ₹4,259 crore in sectoral funds. The SIP figure stood at ₹17,610 crore in December, AMFI data revealed.
Mumbai: Mutual Fund Industry Net AUM stood at Rs 39,42,031 crores, while AAUM was Rs 40,04,638 crores in March 2023, showed AMFI Mutual Fund Industry data.