What to do with my Mutual Fund schemes

Personal finance
1

Hi There,

I was wondering what would I do with my Mutual Fund schemes if after 2.5 years of investing (god forbids!) Zerodha shuts its Coin Platform?
Will I be able to transfer my MF schemes to the AMCs/other brokers? Or I will have to redeem all my units?

Thanks
Sagar

2

All your units are held in demat form which you can transfer anytime.

2 Likes
3

Important to note that all that’s stored as demat (equity shares /goldbees/MF etc) are actually stored by cdsl/ndsl which are owned by the govt (?)

So ur DP statement/MF purchase rcpt is proof of ownership.

Even if ur dp (hypothetical example- Zerodha) etc gets closed, your holding are never at risk.
You can casually trfr it to another DP

However if u have any margin ₹ store with your DP, that is @risk. I think, but am not sure, that’s somehow insured /covered by sebi to the extent of 15lac,but not sure how it works! Or even if it’s true!

4

Thanks Guys for your help!:grinning: