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Aditya Birla Sun Life AMC Limited

Aditya Birla Sun Life AMC Limited

    • Facility for transfer of units held in Non-Demat (SoA) mode:


    Currently, mutual fund units held in dematerialized (demat) mode are freely transferable as per SEBI circular no. CIR/IMD/DF/10/2010 dated August 18, 2010, on Transferability of Mutual Fund Units however the facility is not available for the units held in non-demat mode, i.e., Statement of Account (“SoA”) mode.
    The process of transfer of units held in Non-Demat (SoA) mode is now available. Since the facility is being introduced in phases, the first phase is currently available for


    Individual unitholders falling under the following three categories –


    • Surviving joint unitholder, who wants to add new joint holder(s) in the folio upon demise of one or more joint unitholder(s).

    • A nominee of a deceased unitholder, who wants to transfer the units to the legal heirs of the deceased unitholder, post the transmission of units in the name of the nominee.

    • A minor unitholder who has turned a major and has changed his/her status from minor to major, wants to add the name of the parent / guardian, sibling, spouse etc. in the folio as joint holder(s).


    Note:-

    • The facility for transfer of units held in SoA mode shall be made available under all mutual fund schemes, except ETFs.

    • Partial transfer of units held in a folio shall be allowed. However, if the balance units in the transferor’s folio falls below specified threshold / minimum number of units as specified in the SID, such residual units shall be compulsorily redeemed, and the redemption amount will be paid to the transferor.

    • If the request for transfer of units is lodged on the record date, the dividend payout/ reinvestment shall be made to the transferor.

    • To mitigate the risk, redemption under the transferred units shall not be allowed for 10 days from the date of transfer. This will enable the investor to revert in case the transfer is initiated fraudulently.