Changing of holding pattern in Mutual Fund Folios

POSTED BY arupsanyal2002 ON April 5, 2012 7:10 pm COMMENTS (3)

Hi,
Both myself and my wife are joint holders in my mutual fund folios while I am sole holder in demat account holding of my equity portfolio .
Now, for consolidation of these two portfolios, I would like to convert the mutual fund folios to demat form and transfer same in an existing demat account( with Kotak Securities) of which I am the sole holder.

Since the holding pattern in the physical MF folio should match with that in the demat account, my query is, whether I shall open a new demat account of joint holding with my wife, then convert and transfer the MF folio to this new demat account. After the same is done, can I transfer this holding from this Joint Demat account to my single holding demat account?

Regards,
Arup

3 replies on this article “Changing of holding pattern in Mutual Fund Folios”

  1. arupsanyal2002@yahoo.co.in says:

    No, my basic aim is to consolidate my MF portfoilio with the equity portfolio. And since I already have my bank account, trading account and demat account all at one place( Kotak) , would not like to open another account.

    1. Dear Arup, In that case a new Demat account under joint ownership should be open or ask Kotak, ;ll they allow a temp. demat account for this consolidation service. As far as I know, Icici-direct was offering such consolidation service for old physical shares scattered under different names in a family & joint ownership in different combinations.

      Thanks

      Ashal

  2. Dear Arup, if keeping your units online/electronic is your aim, I w’d ask you to use http://www.fundsindia.com or http://www.moneysight.com

    Thanks

    Ashal

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today