Good news for mutual fund investors! SEBI has introduced a new digital platform called Mitra, designed to help investors and their heirs trace lost or inactive mutual fund folios.
This platform was developed jointly by SEBI and mutual fund RTAs (Registrars and Transfer Agents). Mitra aims to make it easier for investors to access old or unclaimed funds, improve transparency, and reduce the risk of fraud.
What is Mitra?
Mitra stands for Mutual Fund Investment Tracing and Retrieval Assistant. It is a centralized digital platform supported by SEBI. Through Mitra:
Investors, nominees, or legal heirs can check if they have forgotten or unclaimed mutual fund holdings.
Rightful owners or their heirs can easily locate and retrieve dormant or unclaimed investments.
Investors can trace their own past investments or those of a deceased family member.
If a folio is found, they can contact the AMC or RTA to activate it by submitting the required documents.
Why Was Mitra Needed?
Many investors lose track of their mutual fund investments over time due to:
Changes in contact details – Updates in mobile numbers or email addresses make it hard to access investment information.
Lack of PAN linkage – Some folios are not updated with PAN details, making tracing difficult.
Lost account statements – Investors may misplace statements or be unsure how to manage a deceased family member’s investments.
Dormant folios are vulnerable to fraud, and unclaimed dividends may be sent to the Investor Protection Fund. Mitra addresses these issues by increasing transparency, encouraging KYC updates, and allowing dormant folios to be activated.
How to Use Mitra
Mitra provides a unified search facility for the mutual fund industry. It can be accessed through:
MF Central website
AMC websites
AMFI website
SEBI website
RTA platforms
The platform is managed jointly by CAMS and KFin Technologies. To use it:
Register on mfcentral.com.
Go to the Mitra section and fill in the required information.
Optional details like date of birth, nominee info, and bank account details can improve search accuracy.
If a folio is found, investors can contact the AMC or RTA. After submitting the necessary documents, the RTA updates the missing information and issues an account statement.
Benefits of Mitra
Mitra provides several advantages for investors and heirs:
Quickly trace old and lost investments.
Increase transparency and awareness of investor rights, reducing fraud risks.
Update KYC to prevent future delays or tax issues.
Protect inactive folios and unclaimed dividends, ensuring they reach the rightful investor.
Help legal heirs reclaim investments as their rightful property.
SEBI’s Mitra platform is a game-changer for mutual fund investors, giving them complete control over their funds, improving transparency, and creating a secure investment environment.
Through Mitra, investors can now monitor their investments confidently and reclaim unclaimed funds promptly, benefiting both the mutual fund industry and investors.