The requirement of nomination for Mutual Funds shall be optional for jointly held Mutual Fund folios; SEBI clarifies
Editorial Note : Earlier, SEBI vide Master Circular for Mutual Funds dated May 19, 2023 prescribed the requirement for nomination/opting out of nomination for all existing individual unit holders holding Mutual Fund units either solely or jointly by June 30, 2024. SEBI has now modified Clause 17.16 of the Master Circular regarding nomination for Mutual Fund unit holders. SEBI has clarified that the requirement of nomination for Mutual Funds shall be optional for jointly held Mutual Fund folios.