Inactive Mutual Funds: How to reclaim unclaimed investments via Mitra —a step-by-step guide

Investors with inactive or unclaimed mutual fund investments are recommended to trace and retrieve their forgotten folios by applying through a legitimate channel.

There are a number of ways to reclaim your unclaimed mutual funds. One of the most effective ways — introduced by the Securities and Exchange Board of India (Sebi) —is through Mitra.

What exactly is Mitra?

For the unversed, Mitra is a service platform that helps investors trace inactive and unclaimed mutual fund folios and is an abbreviation for Mutual Fund Investment Tracing and Retrieval Assistant.

Developed by the RTAs (CAMS and KFIN Technologies), this platform provides investors with a searchable database of inactive and unclaimed mutual funds across fund houses.

It is available through a link on the websites of MF Central, asset management companies (AMCs), AMFI, two RTAs and Sebi.

What is an inactive folio?

An inactive folio is defined as a mutual fund folio where no investor-initiated transaction took place in 10 years, though the unit balance is still available.

Thus, the inactive folios include those folios where the investor may have remained invested in an open-ended scheme and has chosen not to redeem or perhaps lost track of it.

Here is a step-by-step guide to help investors track and reclaim their investments.

A step-by-step guide

I. Visit the MF Central link: https://app.mfcentral.com/links/inactive-folios

II. Enter your PAN on this platform as shown in the image below.

III. Enter the OTP sent to your email ID along with PAN to proceed.

IV. Enter profile information, which includes all your details such as investor identity parameters (PAN/email/mobile number/DOB/Bank a/c number/PEKRN).

V. Add other details of profile information such as address, nominee name, city or pin code.

V. Finally, your request will be accepted, and the request ID will be generated, as shown in the image above.

VI. Now you can track your request by clicking the violet button.

Can you look for someone else’s inactive funds – such as a family member’s?

Yes, the query can be made for yourself or someone else.

Can NRIs also use this facility?

Yes, non-residents can also use the platform by providing their email ID, where OTP can be triggered. Once OTP is validated, the user can log in.

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