Nomination In Mutual Funds:

1. Effective from 1st April nomination is compulsory across all new investments made in mutual funds.
2. In case if you do not wish to nominate your investment,please submit declaration form of non-intention of making nomination
3. In case of joint holding all unit holders needs to sign for addition/deletion of nominee even if mode of operation is “either or survivor”.
4. Nomination can be made only by individuals applying singly or jointly.
5. Nomination can not be updated in a folio held on behalf of a minor or held by non-individuals including society,trust,other than a religious or charitable trusts,body corporate,partnership firm,karta of hindu undivided family.
6. Nomination form can not be signed by power of atternoy holder.
7. Transfer of units in favour of nominee shall be valid discharge by the amc against the legal heir.
8. Cancellation of nomination can be done only by those unit holders who holds units on their own and have made original nomination.
9. Every new nomination for a folio / account will overwrite the existing nominee.

Nomination have always remained an ignored part.As it has made mandatory at least investors will pay attention towards it.