How To Link To Aadhaar To MFs
PMLA Rules 2017 : Prevention of Money Laundering Act, 2017.
By this act it has become mandatory to link Aadhar Number To MF Portfolios.
Deadline is by 31st Dec, 2017.
There are 3 ways for linking purpose: –
- RTA(Register & Transfer Agents) Website a) CAMS * – Link to 15 service Fund houses in one go(CAMS = Computer Aided MAnagement Services ) b) KARVY – 17 MF service funds. c) Franklin Templeton MF – Seperately not part of CAMS or Karvy.
- Directly from AMC – Website/ Local Office
- MF Distributors/Advisors- Aadhar link form + Aadhar Card Copy Important FAQs 1.
Q – Is Aadhaar required for all holders(?)
A- Yes, Aadhaar information is required for all holders (First holder, Joint holder, Guardian(in case of minors),and POA holders(Power of Attorney) ).
Karta Aadhaar details are required for HUFs(Hindu Undivided Families).
Non – Individual Investors have to submit the Aadhar number of their authorized signatory/ signatories.
Aadhaar Number is not required for the customers residing in J&K, Assam & Meghalaya.
Q- I am a NRI. Is it mandatory for me to update my Aadhaar Number (?)
A-No. As per existing UIDAI requirements, NRI’s are not eligible to enroll for Aadhaar. Hence, NRI’s are not required to submit Aadhaar info.
Q- Is it a one -time activity?
Riskometer of MFs
5 – low, 4 – moderately low, 3 – moderate , 2 – moderately high, 1 -high
5 = liquid & ultra – short term bond fund/ avg maturity < 90 days
4 = medium term bond funds (91 days< avg maturity < 3 years)
3 = Income Funds, Guild Funds, (avg Maturity > 3 years), Arbitrage Funds, Debt Oriented Hybrid Funds (equity exposure < 20%).
2 = Diversified Equity Funds, balanced funds, Index ETFs, gold ETF’s.
1 = Sectoral Funds/ Thematic Funds , international funds, sectoral ETF’s.