How to rematerialise mutual fund units

Application form for rematerialisation needs to be filled up in duplicate and submitted to the depository participant (DP).

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Rematerialisation cannot be carried out for lien marked units, unless the lien has been removed.
Mutual fund units can be held in two forms—physical or demat. Demat units may not offer any major benefits compared to units held in electronic form. One can convert demat units into electronic form through rematerialisation.

Application
Application form for rematerialisation needs to be filled up in duplicate and submitted to the depository participant (DP). A separate rematerialisation request must be filled for each ISIN/scrip/fund. All the holders must sign the form.


Information
In addition to basic details such as names of holders, DP ID, client ID, information with respect to the units to be rematerialised, such as existing folio number (if any), mutual fund scheme name and ISIN number, number of units held, lien details (if any) must be provided in the form.

Documents
The following documents must be enclosed with the application:
  • Self attested address proof
  • Self attested PAN

Process
Once the requisite documents are submitted to the DP office and after due verification of the application, the DP will issue a similar request to the AMC. Once the AMC / registrar processes the request, it will send an account statement reflecting the units held by the AMC in electronic form.

Charges
Charges may apply (as decided by the DP) to process the rematerialisation request.

Points to note
  • Only partial units or selected schemes of a particular fund house may not be allowed to be converted to physical form.
  • Rematerialisation cannot be carried out for lien marked units, unless the lien has been removed.

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(The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
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