LGT Wealth India

Nominations and Contact Updation

Regulator has made it mandatory to have nomination in mutual fund folios. Since October 1, it’s mandatory to nominate someone in your mutual fund investment or explicitly opt out. All existing folios without nomination will be frozen for further transaction from 31st March 2023.

For continuity of the transaction in the existing folios it is advisable to check nomination in existing folios and update the same if missing.

Also, regulator has made 2FA (2 Factor Authentication) mandatory form 1st April, 2023 while buying or selling mutual fund online. OTP for 2FA will come to your registered email id or mobile number. If client is using same email id/mobile number across investors then it is mandatory to update relationship along with email id and mobile number.

Eg. If Husband’s mobile number and/or email id is used in wife’s investment, it is required to update relationship in wife’s investment that mobile number and/or email id belongs to husband.

To facilitate these updates, RTAs (CAMS and Karvy) have provided digital platform. Request you to visit the same and update the details if required.

Links to update nomination details

Links to update Email/Mobile and relationship if Email/Mobile are of other family members