CHECKING FUNDS' SOURCE: Mr A.P. Kurian (right), Chairman, Association of Mutual Funds in India, and Mr S.S. Thakur, Chairman, CDSL Ventures Ltd, addressing a press conference in Mumbai on Wednesday. - Shashi Ashiwal
Mutual fund investors will get a unique Mutual Fund Identification Number (MIN) for fresh investments above Rs 50,000 effective January 1, said Mr A.P. Kurien, Chairman, Association of Mutual Funds in India (AMFI), at a press conference.
MIN will be provided by CDSL Ventures Ltd, which will maintain the records for investors with investments above Rs 50,000 in one mutual fund. An investor will have to submit his photograph, proof of identity, proof of address and PAN Card to obtain MIN.
The number can be used for investing in all funds and an investor is required to obtain the number only once in a lifetime.
MIN will be provided free of cost to all investors and can submit their documents at various Points of Services (POS) which to begin with, will be various branches of mutual funds, registrar offices and offices of the Computer Maintenance Service Corporation.
Investors can also download MIN forms from the AMFI website, said Mr Kurien.