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    Folio Number- Meaning, Benefits and Everything You Should Know

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    Folio Number- Meaning, Benefits and Everything You Should Know

    May 11, 2023
    4 min | Views 4536

    A folio number is vital in identifying investors and their mutual funds. Check out this post to know its meaning, benefits, and more.

    Whether you hold units of a single mutual fund or multiple funds, keeping track of your investments to manage them better is essential. It is equally important for the fund houses to manage the investment records of their numerous investors. Here is where the folio number comes into the picture- a simple yet crucial component in mutual fund investments.

    Let’s delve deeper into what are folio numbers, their benefits, and other relevant details.

    Folio Number Meaning

    The folio number is a unique identification number assigned to each mutual fund investor by the Asset Management Company (AMC). A mutual fund folio number can be numeric or alphanumeric, depending on the format followed by the AMC. Each AMC has its own format for assigning folio numbers.

    A folio number helps the AMC identify investors and their investments in a mutual fund. Additionally, records retrieved from a folio number can also be used to resolve disputes quickly.

    Benefits of Folio Number

    Apart from easy identification of investors, the Folio Number offers several other benefits discussed below.

    • Consolidation of Investments

      An investor can hold multiple mutual fund schemes within a single Folio Number provided all the mutual funds belong to the same AMC. However, if you own mutual fund units from separate AMCs, you’ll have different folio numbers provided by the respective fund houses.

    • Tracking of Investments

      Investors can easily track their mutual fund investments using their Folio Number. For example, you can easily perform the following tasks using a folio number.

      - Ask for statements of your investments for a particular period in a fund.
      - Know the number of units you hold in a fund.

    • Removes the Need for Multiple KYC for a Fund House

      KYC (Know Your Customer) verification is mandatory while opening a mutual fund account. However, if you’re an existing customer of a fund house, you don’t need to undergo the KYC process again to purchase another fund from the same AMC.

      Instead, you’ll need to provide the folio number of your existing mutual fund while applying for the new fund under the same AMC. The fund house will then automatically retrieve the KYC information from its records, saving you time and unnecessary hassles.

      Also Read: Do you want to invest in Mutual Funds? Do e-KYC from the comforts of your home

    • Easy Redemption

      Investors are now required to quote their folio number while redeeming their mutual fund units. It makes the redemption process quick with a low potential for error or delay.

    How to Find Your Folio Number?

    Existing Investor

    You can find your folio number in the account statement sent to you by the AMC. Alternatively, you can find your folio number by logging into the online portal of the AMC, where you have invested in mutual funds. The folio number is also printed on the physical mutual fund statement and the mutual fund unit certificates.

    New Investor

    Once your first investment is processed, the AMC will assign you a folio Number. This folio number will be mentioned in the investment confirmation email or letter sent by the AMC.

    How to Check Mutual Fund Status with Folio Number?

    Once you have your folio number, you can easily check your mutual fund status online. Most AMCs offer online portals where investors can log in and check their investment status. Follow the steps below to check your mutual fund status with a folio Number.

    1. Log in to your account using your folio number and password.
    2. Once logged in, you will see your investment portfolio with details such as the current market value, returns generated, etc.

    Use Folio Number To Your Utmost Advantage

    A mutual fund folio number is designed to make your investment experience fast and convenient. Therefore, it’s advisable to keep this number saved and accessible to you at all times. Moreover, don’t forget to provide your folio number in any type of communication with your fund house to help them address your concerns as early as possible.

    Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

     

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