homenavs and dividendsunclaimed redemption / dividend details
Unclaimed Redemption / Dividend details

SEBI vide circular no. SEBI/HO/IMD/DF2/CIR/P/2016/37 dated February 25, 2016 has mandated Mutual Funds to provide on their website, the list of names and addresses of investors in whose folios there are unclaimed amounts (redemption / dividend). Further, Mutual Funds are also required to provide information on the process of claiming the unclaimed amount(s) and the necessary forms / documents required for the same.

In this context, investors may like to note the following:

  • Redemption / dividend cheques sent to investors that remain unpaid beyond their validity period are categorised as unclaimed.
  • Investors wishing to claim such amounts, may fill the Unclaimed redemption / dividend claim form (click here) and comply with the requirements stated therein.
  • The investor will be eligible to receive the original amount payable to an investor, together with any income earned thereon by deployment in permitted instruments until three years from the date of the instrument. Any income earned after this date is transferred to the Investor Education and Protection Fund in accordance with the provisions of the above mentioned Circular and the SEBI Regulations / Guidelines.
  • The process followed by the AMC
    The AMC has created the following new plans effective April 01, 2016 in JM High Liquidity Fund (“Liquid Fund”), an open ended liquid scheme of the Mutual Fund, as per the following nomenclature:
    1. Investment of unclaimed amounts during the first three years.
      • JM High Liquidity Fund – Unclaimed Redemption (Direct) - Growth Plan
      • JM High Liquidity Fund – Unclaimed Dividend (Direct) - Growth Plan
    2. Investment of unclaimed amount after three years.
      • JM High Liquidity Fund – Unclaimed Redemption I.E.F* (Direct) - Growth Plan
      • JM High Liquidity Fund – Unclaimed Dividend I.E.F (Direct) - Growth Plan

    3. (*Investor Education Fund)
  • The new plans towards the unclaimed amounts are not available for subscription/switch-in by investors/Unit Holders of the schemes of the Mutual Fund. The necessary disclosure is also being made in the SID/SAI.
  • No exit load will be charged in the new plans and the total expense ratio of the new plans will be capped at 50 bps or as revised by SEBI from time to time.
  • Minimum initial/additional subscription amount is not applicable to new plans.
  • Other scheme features such as investment objective, asset allocation pattern, investment strategy, risk factors, and other terms and conditions of the new plans mentioned above will remain the same as per the existing plans of JM High Liquidity Fund.

Investors/Unit Holders of the schemes of the Mutual Fund can obtain information on the folios with unclaimed amounts from the website of the Mutual Fund (www.jmfinancialmf.com) by clicking here as well as from the website of AMFI (www.amfiindia.com). Information on the unclaimed amount and its prevailing value will be separately disclosed to investors through monthly Consolidated Account Statement sent to the investors in case of transacted cases & and on half yearly basis in case of non- transacted cases for respective folios.

Copyright © 2008. JM Financial Mutual Fund. All Rights Reserved.
Site Designed & Developed by Idealake
Disclaimer | Privacy Policy | Voting Policy