With regards to online purchases of mutual fund schemes, a folio number is your only saviour. You wouldn’t have to file for two different applications to sell holding in one fund if you have quoted same folio number. This will help you when you want to sell. The number can be quoted for additional purchase in a particular scheme. While investing in a fund house you already have an investment in, look up the past folio number and mention the same in the specified column in application forms.Īpart from helping you save the trouble of jotting down thousands of number for various accounts on the back page of your diary, quoting a single folio number helps for future transactions as well. It has been observed that people rarely quote their existing folio numbers, even if they have been allotted one. So, if you trust only one fund house, you would have to remember only one number for your mutual fund investments. But a folio number given by the respective fund house can be used for all the later investments in the same asset management company. You may not be able to have a single folio number for all mutual fund houses. So, when you invest for the first time in XYZ fund you would get a folio number that’s different from the folio number given to you when you invested in ABC fund. This number is unique for each fund house. Here’s what a single folio number is all about.Ī folio number is a number given to a mutual fund investor by an asset management company. One can avoid having to quote separate numbers for mutual fund investments by quoting a single folio number for all transactions with the same fund house. While the hassle is largely unavoidable, one can certainly avoid some. It’s a world of numbers out there - numbers linked to bank accounts, passwords, permanent account number, trader account number, customer identification number and unique numbers for insurance and mutual fund investments and bank deposits, etc - that one must keep track of and put to use.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |