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
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:
- 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
- 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
(*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.