FREQUENTLY ASKED QUESTIONS

What is Nomination Facility

Nomination facility enables a unit holder to nominate an individual, who can claim the units, post the unfortunate demise of the unit holder(s). Proper nomination ensures smooth transmission of investments to nominee/s.

Similar to the practice as in bank accounts, demat accounts and other financial investment products where nomination facility is available, you can register your nominee for your mutual fund investments. You can register upto three nominees for your investments in DSP Mutual Fund.

Nomination is now mandatory for new folios/accounts opened by individual especially with sole holding and no new folios/accounts for individuals in single holding should be opened without nomination.

Even those investors who do not wish to nominate must sign separately confirming their non-intention to nominate.

How to Nominate?

While investing with us for the first time, you can avail nomination by filling up the 'Nomination' section, which is a part of the Common Application Form.

To register a nomination subsequently, you need to complete the Nomination Form and submit to any of our offices.

Nomination form should be signed by all unit holders irrespective of the mode of holding. Please read the terms and conditions on the nomination form carefully.

Nomination Guidelines

• Nomination can be made only by individuals applying for / holding Units on their own behalf singly or jointly.
• Non-individuals (including societies, trusts, bodies corporate, partnership firms, etc.), Karta's of Hindu Undivided Families (HUF) and holders of Power of Attorney cannot nominate.
• Nomination facility is not available for investments held on behalf of minor.
• A minor can be nominated, and in that event, the name and address of the guardian of the minor nominee shall be provided by the Unit Holder.
• Nomination can also be in favour of the Central Government, State Government, a local authority; any person designated by virtue of his/her office, or a religious or charitable trust.
• The nominee shall not be a trust (other than a religious or charitable trust), society, body corporate, partnership firm, Karta of HUF or a Power of Attorney holder. An NRI can be a nominee, subject to the exchange controls in force from time to time.
• Nomination in respect of Units stands rescinded upon redemption of the Units.
• Transfer of Units in favour of a nominee(s) shall be valid discharge by the AMC against the legal heir.
• Cancellation of nomination can be made only by those individuals who hold Units on their own behalf singly or jointly and who made the original nomination.
• On cancellation of the nomination, the nomination shall stand rescinded and the AMC shall not be under any obligation to transfer the Units in favour of the nominee(s).
• The rights in the Units will vest in the nominee(s) only upon the death of all Unit Holders.
• Nomination can be made in favour of more than one, and upto three individuals. Investors who desire to make nomination in respect of multiple nominees should clearly specify the percentages to be allocated between the nominees. If no percentages are mentioned, nomination will be done equally for all the nominees.
• Nomination will be maintained at the folio or account level and will be applicable for all investments in the folio or account.
• Where a folio has joint holders, all joint holders should sign the request for nomination, even if the mode of holding is not "joint".
• A new nomination request will imply simultaneous cancellation of existing nomination and request for fresh nomination.
• Applicants who do not wish to nominate, must sign at the designate space confirming their intention on not to nominate, failing which the form may be rejected at the discretion of the AMC/ Fund.
• Where a folio has joint holders, all joint holders should sign the request for nomination/ cancellation of nomination, even if the mode of holding is not "Joint". Nomination form cannot be signed by Power of attorney (PoA) holders.
• Every new nomination for a folio/ account will overwrite the existing nomination.