Similar to demat accounts is there anything similar for holding mutual fund units from various AMCs under a single umbrella?
-Vishwas
If you want to maintain your mutual funds investments under one account, then the best option for this is to hold an investment account with your bank or a brokerage firm where you already hold your demat account.
However of the 30 fund houses, most banks offer investments in about 19- 20 fund houses. The benefit of holding such an account with your bank is that all these services are linked to your account, and this simplifies transactions to a great deal.
At the same time most big brokerage houses also double up as mutual fund distributors. So you can also look at transferring your existing holdings to your primary investment account for greater convenience.
This article was originally published on March 22, 2007.
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