SEBI/HO/IMD/IMD-SEC-3/P/CIR/2025/15 — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

CIRCULAR SEBI/HO/IMD/IMD-SEC-3/P/CIR/2025/15 February 12, 2025 All Mutual Funds (MFs) Asset Management Companies (AMCs) All Trustee Companies/Boards of Trustees of Mutual Funds Registrar and Transfer Agent (RTAs) Association of Mutual Funds in India (AMFI) Registered Investment Advisors (RIAs) Sir/ Madam, Subject: Service platform for investors to trace inactive and unclaimed Mutual Fund folios -MITRA (Mutual Fund Investment Tracing and Retrieval Assistant) Over a number of years, Mutual Fund investors sometimes lose track of their investments considering investments might have been made in physical form with bare minimum KYC details. The investments in open- ended growth option mutual fund schemes may remain invested perpetually until and unless investor/his nominee/legal heir approaches the concerned AMC for redemption/transfer/transmission. Due to non- availability of PAN, email ID or valid address it is also possible that these MF folios may not appear in the unitholder's Consolidated Account Statement. Thus, inactivity in Mutual Fund folios could be on account of the investor losing track of his/her investment, demise etc. Such inactive folios may become susceptible to fraudulent redemptions. In order to address the aforesaid concerns, MITRA platform is developed by the RTAs to provide investors with a searchable database of inactive and unclaimed Mutual Fund folios at an industry-level which will empower the investors in following manner: 2.1. Enable investors to identify the overlooked investments or any investments made by any other person for which he/she may be rightful legal claimant; 2.2. Encourage investors to do KYC as per the current norms thus reducing the number of non -KYC compliant folios; 2.3. The MITRA platform will lead to reduction in the unclaime