Dormant Mutual fund Account Statement is now replaced with Half Yearly Account Statement !

Dormant Mutual fund Account Statement is now replaced with Half Yearly Account Statement! 

Very recently i have received email account statement with subject: Half Yearly Account Statement

"Thank you for investing in XXX Mutual Fund. This communication is sent in accordance with SEBI (MFs) Regulations in respect of non-transacted folios for the period 01-04-2012 to 30-09-2012. Please find the enclosed account statement of your folio for the above mentioned period in PDF format. To safeguard the information contained therein, the said file is encrypted and protected with your PAN / Folio Number. We also take this opportunity to request you to please get a nomination registered for your folio, if not already registered"

What is meant by Dormant Mutual fund Account Statement

It actually means update on Non transacted mutual fund folio.

According to para 14.3.4 of the Master Circular for Mutual Funds titled 'dormant account holders', "mutual funds shall also provide statement of accounts to those unitholders who have not transacted during the last six months prior to the generation of the statement of accounts."

This is a measure by SEBI to keep you updated about your mutual fund investments  to those unit holders who have not transacted during the past 6 months prior to the date of generation of the Statement of Accounts’.

What is Purpose of sending this information

The reason for sending this information is to keep investors updated on a half-yearly basis.

 Earlier Posting on Dormant Mutual fund Account Statement

Dormant Mutual Fund Account Statement (CAS) - Don't Get Confused!