Found old mutual fund investments? Here’s how to track them down | Value Research Helping you with lost-and-found wealth

Found decades-old mutual fund certificates? This is for you

Helping you with lost-and-found wealth

Found old mutual fund investments? Here’s how to track them down

As it happens with most things lost and found, 61-year-old Mr Mishra was recently de-cluttering his study when he chanced upon a dusty, decaying bunch of documents. Among them were certificates of Morgan Stanley Growth Fund he had bought for Rs 5,000 almost three decades back in 1994 (March 18, to be precise).

That's right, the Morgan Stanley of international repute. The Morgan Stanley that had entered the Indian mutual fund industry in the '90s with much fanfare but was soon put in its place. By 2014, they had packed their boxes, handed the mutual fund business to HDFC and retreated swiftly.

Returning to Mr Mishra's story, the joy of finding lost things was cut short abruptly when reality and rationality kicked in. Questions like "Are these certificates valid now?, "How do I know the value of this investment?" and "How do I claim my investment now" popped up in his head like party poopers.

This is where this article steps in. It will ensure Mr Mishra's old investments and hard-earned money do not go to waste. (While we help Mr Mishra in the article, we'll outline the broad steps of recovering your money, so it is easy for you too).

Step 1: Find the current name of the mutual fund
Even a year is a long time in commerce. Imagine almost three decades? Hence, the importance of finding the current name of your investment. Like Morgan Stanley investment, your old mutual fund house may have been acquired or merged.

So, this is how you find the current name:

  • Click on the 'Search' icon (the magnifying glass) on the top right corner of this page and then type the name of the old mutual fund investment. That's Morgan Stanley Growth Fund in Mr Mishra's case.
  • As you can see in the screenshot below, when Mr Mishra types the name of his fund, a drop-down list appears with the current name of the mutual fund.

Chances are the drop-down list will help you too. It should have the present name along with its old name in the brackets starting from 'erstwhile'.

Step 2: Check the old investment's current value
Since Mr Mishra knows the current name of the investment - HDFC Large and Mid Cap Fund - he can check the latest value of his mutual fund units using our portfolio tracker called 'My Investments'.

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So, here's what he does. (You can follow these steps too).

  • He goes to 'My Investments', as seen in the screenshot below.
  • He clicks on 'Add Investments' and selects 'Mutual Funds'.
  • He then taps 'View other methods', scrolls down to 'Add Funds Manually' and clicks on 'Select Funds'.
  • He reaches the 'Add Funds Manually' page. Here, he types the letters 'MF' (see Point 1 in the below screenshot) just to label it before giving the current name of the fund, folio number, date of investment and the invested amount (see Point 2 in the below screenshot).
  • Once he clicks on 'Add Transaction', he is able to see the current value of his investment. The Rs 5,000 investment has grown to Rs 1.07 lakh.

But what if Mr Mishra wants to claim the investment?

  • He should contact the support team of the new fund house, which is HDFC in this case.
  • Once he learns about the withdrawal process, he should visit the branch of the fund house along with the following documents:
    - A written request for the updation of bank account details. For this, carry a cancelled cheque leaf and a copy of your bank statement with your current address, certified by the bank manager.
    - Signature attested by the bank manager
    - The physical certificate of the Morgan Stanley Growth Fund
    - And your regular KYC documents: PAN, photo and address proof (Aadhaar)
  • While these documents are specifically needed in Mr Mishra's case, they also broadly apply to you.

  • The fund house then updates the details at their end, which takes about 7-10 working days.
  • Once done, Mr Mishra can successfully encash the old investment. He can continue to stay invested too.

Things to remember
If Mr Mishra decides to withdraw his money, long-term capital gains (LTCG) tax comes into the scene. To calculate capital gains, the original date of purchase and cost of equity will be considered (1994), and not the day of the HDFC-Stanley Morgan merger in 2014.

Suggested read: How to convert physical shares into demat?

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