What happens to investments when the holder dies without nominating anyone?

Your family could face difficulties as getting a succession certificate from court is easier said than done

In order to bring about much-needed uniformity across fund houses in dealing with the transfer of assets due to the demise of unitholders, The Association of Mutual Funds in India (Amfi) has now updated its set of guidelines for the transfer of mutual fund investments in which the deceased unitholder hasn't nominated anyone. 

Pranjal  Kamra, CEO, Finology says, “The uniform norms introduced by Amfi will ensure standardisation of transmission procedures across mutual fund companies and will help the legal heirs/claimants acquire their investments conveniently.” 

While we place a lot of importance on wealth creation as individuals, it is equally essential