NISM-Series V-A: Mutual Fund Certification Exam Notes
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Mutual funds provide an additional facility through an SIP to enhance the disciplined savings of investors. It is called the SIP Top-Up facility
Nomination can be made in favour of a maximum of 3 nominees.
Where there are multiple nominees, the unitholder(s) must define the percentage holding for each nominee making a total of 100 percent. If the percentages are not clearly indicated, then the nomination will be made equally among the nominees.
Only individual investors can make a nomination. Investments by minors cannot have a nomination. A Power of Attorney holder cannot make a nomination.
The nominee can be an individual, including minors and NRIs, central and state governments and local authorities.
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