Assume Mr.X has an investment in ABC Mutual Fund. What if he hadn’t shared this knowledge with his family, and he died unexpectedly? What will happen to his unclaimed Mutual Fund?
Many of us may experience this. Because I have noticed that the head of the family in many homes never bothers to disclose financial facts to his family. Otherwise, family members never take an interest in knowing about the investing details.
What happens to unclaimed mutual funds in this situation?
What happens to unclaimed Mutual Funds?
Relax!! There are options for this. Before we go further, let us first understand what you mean by UNCLAIMED MUTUAL FUNDS. Whether it is a deceased person’s invested amount (which the family is ignorant of) or a redemption or dividend payout that has not been transferred into the unit holder’s bank account?
If you are familiar with mutual fund characteristics, you will observe that there is no maturity notion in mutual funds (except FMPs,…
