Mutual Funds

Updating profile details

| Updated on August 30, 2011

I have recently moved from Bangalore to Chennai and submitted a redemption transaction form in Chennai along with a request to change my address. However, my address has not been changed and I have been informed that I should have submitted the request to CDSL Ventures Limited (CVL), a subsidiary of Central Depository Services (India) Limited (CDSL). Queries of this nature often come from investors. Here are a few frequently asked questions on this subject.

I requested a mutual fund to change my address details and was asked to submit the request to a Point of Service of CDSL Ventures.

Investors in mutual funds have to comply with the Know Your Customer (KYC) norms. This is a one-time exercise and the investors need to provide proof of identity and address to CVL. The KYC database of investors is maintained by CVL and is provided to the mutual funds.

The investor address with the mutual fund is updated from the CVL database. Mutual funds send dividend warrants, statements etc. to the registered investor address and it is imperative for investors to keep the information updated in the records of CVL.

An investor who is KYC compliant and has registered his KYC status with mutual funds in which he has investments, would have to submit a change request form to a Point of Service (POS) of CDSL Ventures Limited.

The CVL verifies the information with the supporting documents provided, updates its records, and passes on this information to the mutual funds.

Validity of documents: If the document provided has an expiry / validity date; such as a passport, for instance,it must be valid at the time of submission.

The documents provided with the change request form for a change of address must have the address that is mentioned in the form.

The new address details would be automatically updated in all the investor folios across funds where he / she has updated KYC status and investors don't have to inform details of the change of address to each mutual fund.

Where can I get the form to change my address?

CVL has a prescribed form for change of details. This form can be downloaded from http://www.cvlindia.com. All details, such as the documents to be submitted as proof of address, are given in the form.

I am KYC compliant. However, I wish to record a change only in e-mail and mobile number in my folio. Can I approach the funds directly?

Yes. Requests for a change in e-mail ID and telephone numbers may be given to the funds or the registrar directly and you don't have to submit such requests to CVL.

I have old investments in mutual funds and am yet to get KYC compliant. Can I submit a request to change my address to the mutual fund?

Investors who are yet to complete the KYC formalities may submit a change of address request to the mutual fund directly and it will be updated in the folios in these cases.

A point to note: It takes a few days for CVL to effect the change of address and for the updated information to reflect in the records of the mutual funds. Transaction confirmations and cheques for transactions made during this period would be sent to the old address.

CVL contact information for enquiries: The enquiry e-mail ID of CVL is cvlhelpdesk@cdslindia.com and the telephone numbers are 022-61216908 / 6909 / 6910 / 6911 / 6912.

(Contributed by CAMS Viveka, an Investor Education Initiative from CAMS. The views expressed herein are general ractices in the mutual fund industry and may vary on a case-to-case basis.)

Published on August 27, 2011

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