In FY 2022, the unclaimed amount of the MF industry was Rs.2500 crore.
Unclaimed amounts of mutual funds are on account of non-encashment of dividends and maturity proceeds by investors. Of the total unclaimed amount, Rs.980 crore is due to unclaimed redemption.
This indicates that the majority of the unclaimed amount i.e. Rs.1660 is in the form of dividend.
SEBI said, "The unclaimed redemption amount of mutual funds decreased by 1.70% to Rs.979 crore at the end of 2022-23 from Rs.995 crore at the end of 2021-22. But the unclaimed dividend amount went up by 8% to Rs.1,659 crore in 2022-23 from Rs.1,539 crore in the previous year."
This story is from the September 2023 edition of Investors India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 2023 edition of Investors India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Why Should One Consider Investing In A Large Cap Fund?
An investor’s ability to create wealth in the longterm is directly linked to how well they create an all-weather investment portfolio.
Meeting Medical Costs with Health Insurance Plans
A medical emergency can occur at any time and to any person.
Water: The Elixir of Life
If there is magic on the Planet Earth, it is contained in water - Loran Eiseley.
The 100 Crore Wealth Legacy! A Vision
Generating 100 crores from modest investments is feasible with a long-term outlook, though market timing remains elusive.
Unleashing Potential: The Dynamics of AI in India
After attending the Microsoft AI Tour recently, I attended a few conferences and met with some government officials over the past few weeks during my macro tour.
The Growing Role of Philanthropy in Wealth Management: A Shift Towards Purpose-Driven Strategies
In recent years, India’s economic landscape has seen a notable shift with the rise of High-Net-Worth Individuals (HNWIs), who are reshaping the financial ecosystem.
Are You Drinking Too Much Coffee? If Yes, Then You Are Taking A Big Risk!
Coffee contains caffeine in maximum percentage:
LIC MUTUAL FUND
According to World Bank data, women represent 49.7% of the world population. In India, women represent 48.4% of the population but they contribute only around 18% of the GDP compared to 41% in China.
Maintain 15-20% exposure to US funds in your equity portfolio
2022 was a difficult year for stocks in the United States (US), particularly for the large tech companies known as FANG. Concerns about the Russia-Ukraine conflict, inflation, etc led to a significant drop in their values.
Systematic Investment Plan (Sip): Meaning, Benefits, How It Works
We all dream of buying a car, dream house, gadgets, etc. This all can come to reality if we have strong financial planning. One of the best options is to start investing in mutual funds through a SIP (Systematic Investment Plan).
