An investor already has a folio in a mutual fund scheme as a joint holder. The investor now wants to make additional investments in the same scheme as a sole holder. How can this be done?
A
The investor must make the investment under a new folio with the mode of holding as Single.
B
The investor can make the investment by mentioning the mode of holding as Single in the application only for the fresh investment.
C
The investor can change the mode of holding for the additional units after the investment has been made.
D
None of the above.
Correct Option:
A
Explanation
The mode of holding is a folio-level attribute and cannot be changed for additional purchases within an existing folio. Therefore, if an investor wishes to invest as a sole holder instead of a joint holder, a new folio with the mode of holding as Single must be opened.
