Destatementisation! Now hold your mutual funds in electronic form
Investors who wish to hold mutual fund units in electronic form can now destatementise such units [Represented by Statement of Account - (SoA)] in their existing demat account.
Acquire a Mutual Fund Destatementisation Request Form (MF-DRF) from your DP.
Submit the duly filled MF-DRF along with the statement of account/s to the DP.
The DP shall capture the details in the CDSL system and forward the original MF-DRF and the SoA to the Registrar and Transfer Agent (RTA) along with a system-generated covering letter.
The RTA will after due verification confirm the conversion request setup by your DP and credit the mutual fund units in your demat account.
Investors can also subscribe for MF Units by mentioning the demat account number details in the MF Subscription form and submit the same to the respective AMC. The MF Units will be credited to the demat account on allotment of MF Units after realization of the payment.
Investors intending to sell / liquidate the holding in the MF available in the demat account have to inform the MF to Redeem / Repurchase the MF units from them. This activity is known as Repurchase / Redemption.
In order to Redeem (Repurchase) MF units, Investors should place a redemption order through their respective Stock Brokers on the Stock Exchange Order Entry platform. Investors will get their redemption proceeds from their stock brokers on completion of the redemption process.
Investors can also redeem or repurchase the MF units in their demat account directly through their Depository Participants (DPs) without going through the stock exchange mechanism by submitting a RRF, directly to their respective DPs. In this case, the funds will be transferred to the bank account of the Investors by the AMC/RTA in lieu of MF units held in their demat account.
Mutual Fund ISINs admitted with CDSL.