Can I assign a nominee for my mutual fund units?

Ramesh Shankar, Pune

Yes, you can assign a nominee for the mutual fund units you hold. The reason to have a nominee assigned is to make sure that the proceeds from the investment get transferred to the nominee if something happens to you. These days, you can rarely invest in a mutual fund without specifying a nominee and in the standard form that every AMC has there is scope to include up to three nominees, wherein you can even specify the percentage allocation of units that need to go to each nominee.

olmdesk@outlookindia.com