Mutual Fund Inheritance Simplified As AMFI Overhauls SOP to Fix Nominee Mismatch Hurdles

AMFI has overhauled its SOP for claiming mutual fund units upon an investor's death, effective immediately.

Fund houses will now accept the nominee's latest verifiable KYC address, bypassing address mismatch issues.

A simplified system handles minor and major name spelling mismatches using SEBI limits.

Multi-tiered verification for signature mismatches replaces automatic rejections.

AMFI will launch dedicated training initiatives across AMCs to ensure uniform application of the new rules.