Consolidate your folios for convenience

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While making investments in mutual funds, one may find that one has numerous folio numbers across funds. At times investors forget what they hold and face difficulties when changes have to be made in folios, or face hassles at year-end while filing returns. It would be worthwhile for investors to take stock of their holdings, check if there are numerous folios in the same fund and get the same consolidated into one single folio number for the fund.

Consolidating folios would give you the benefit of having to track and transact in one folio and allow you a single view of your investments in the fund — all investments in a fund would reflect in a single statement.

Investors may submit a simple, signed request letter to the mutual fund/transfer agent asking for the consolidation of the multiple folios in the fund into any one of existing folios. The folio numbers should be mentioned in the letter. Consolidation can be done subject to the fulfilment of some conditions.

A statement of account of the consolidated (target) folio will be sent to investors along with a covering letter confirming the processing of the request.

To avoid creating additional folios in future, one should remember to mention the existing folio number in transaction slips when making a purchase.

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Published by

Sudarshan Ranganthan

Breaths Investments, Suggests Wealth Creation Ideas, Lives on Law Of Attraction

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