MUTUAL FUNDS
LIC AMC informs about modification in facility for transfer of units held in Non-Demat (SoA)
May-21-2025

LIC Mutual Fund Asset Management has announced Addendum to Statement of Additional Information of LIC Mutual Fund.

LIC Mutual Fund has informed that pursuant to AMFI Best Practices Guidelines Circular No. 135/BP/119/2025-26 dated May 08, 2025 read with AMFI Best Practices Guidelines Circular No. 135/BP/116/2024- 25 dated August 14, 2024, the facility for transfer of units held in Non-Demat (SoA) mode is now extended to all investors under Resident/non- resident Individual investors under following three categories with effect from May 19, 2025 (‘Effective date’). 

a) Surviving joint unitholder, who wants to add new joint holder(s) in the folio upon demise of one or more joint unitholder(s).

b) A nominee of a deceased unitholder, who wants to transfer the units to the legal heirs of the deceased unitholder, post the transmission of units in the name of the nominee. 

c) A minor unitholder who has turned a major and has changed his/her status from minor to major, wants to add the name of the parent / guardian, sibling, spouse etc. in the folio as joint holder(s). 

Further, the facility is also extended to all individual investors under resident / non-resident category who want to (a) transfer units to siblings (b) Gifting of units (c) Transfer of units to third party (d) addition/deletion of the unit holder.

In light of the above, the terms and conditions of the Facility for transfer of units held in non-demat (SoA) mode stated in Statement of Additional Information of LIC Mutual Fund stands modified from the aforesaid effective date. Necessary or incidental changes in the above regard shall be carried out in the Statement of Additional information of LIC Mutual Fund. 

This Notice cum Addendum forms an integral part of Statement of Additional Information of LIC Mutual Fund as amended from time to time. All other terms and conditions of the aforesaid Schemes will remain unchanged.


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