NISM Certifications · NISM-Series-V-A: Mutual Fund Distributors · Investor Services
An investor wants to move their mutual fund holdings from one folio to another with a change in the holding pattern (for example, from single to joint). Which of the following is the usual requirement for such a change?
A change of holding pattern needs a written request signed by all existing unit holders, together with KYC details of any new holder. Oral instructions are not enough, and redemption of units is not mandatory, because the change is processed within the same folio.
- ANo documents are required if the investor informs the distributor orally
- BA fresh application for change of holding pattern signed by all existing holders, with KYC for any new holderCorrect
- COnly a new PAN card of the distributor
- DRedemption of all units is compulsory before the change is processed
Explanation
Change in holding pattern requires a written request signed by all existing unit holders, along with KYC details of any added holder. It does not require redemption of units or oral instructions. A distributor's PAN is irrelevant to the request.
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