Appointment and change of nominee will reflect as a non-financial transaction in the account statement.
Nominee is mandatory in case of a single investor. If a single investor does not wish to appoint a nominee, they must give a specific declaration for the same.
In case of death of the investor, nominee is required to complete his /her KYC and submit a request for transmission of units. Once the units are transmitted to the nominee, he /she may redeem the same or continue the investment.
The rights in the units will rest in the Nominee(s) only upon death of all unit holders.
In case of investors opting to hold the Units in demat form, the nomination details provided by the investor to the depository participant will be applicable.
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