How To Merge Mutual Fund Portfolios

How To Merge Mutual Fund Portfolios

Merge Mutual Fund Portfolios By Using The Below Steps

While making investments in Mutual Funds, one may notice that one has various portfolio numbers across Funds.  At the time of investment, many investors are confused to make investments in related folios. Moreover, some of them have forgotten what they hold and face problems when making changes in folios and while filing returns at the end of the year. Investors have a chance to avoid this type of confusion by Merge Mutual Fund Portfolios into a single.

If an investor can not be mentioned the existing portfolio number as a reference while making a fresh investment in existing mutual funds, a fresh folio will be created for the same holder.

Just make sure to clear a few things are the same in all mutual fund investments in an AMC.

Names of holders and holding pattern of investments is similar across all folios. Moreover, the mode of holding such as joint or survivor is also similar in all folios. The tax status of all investments is identical (NRE/Resident Indian/Corporate).
A signature, address, PAN and social status of investors is the same.

Request For Consolidation

Investors who want to mix their investment folio into a single will need to fill and submit an application to the AMC service center. In any chance, an investor does not reach the AMC service center than submit to their investment advisor or agent to carry out the merger. A conventional form for consolidation application can also get on the mutual fund websites.

Information Needed

Investors need to mention all the folios of the fund in the federation application. It is also important to mention the target portfolio into which all other folios need to be combined.

Signature

If the units jointly owned by the unitholders, then all unitholders’ signature is important for requesting the union of folios. Despite, in case the mode of holding is anyone or survivor, the appellation can be signed by any of the holders.

Processing of request

Investors can receive a stamped acknowledgment as a reference after submitting the consolidation form to AMC service centers or investment advisor or agent. The consolidation request is approved when all details are verified with the AMC record. Then the source folios are merged into a single folio. 

A few things are important to know before combining your mutual fund folios. Folio compression can be done only at a mutual fund level. Folios held over different mutual funds cannot be mixed. If the folio being merged is under claim or pledge, the previous approval of the financier is required to be included with the application.

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