Folio Merging

Notes:

• Folio merging is the process of consolidating multiple folios of the same Asset Management Company (AMC) so that they all will be denoted by a single uniform folio number, thereby providing convenience to the investor. 
• Folio merging can be done only in schemes of the same AMC and for the same investor.
• Source Folio: refers to the folio which is getting merged into another folio
• Target Folio: refers to the folio number which will continue and will absorb the other folios

Requirements for folio merging:

1. Holding pattern should be the same. (1st holder/2nd holder/nominee)
2. Bank details should be the same
3. Mobile number and email id should be same.
4. Source folio should not have SIPs. If it has SIPs then SIPs will need to be stopped and restarted after folio merging is complete.

Steps for folio merging (offline):

1. Excel file to be prepared by exporting MF portfolio report from iinvest (Mados) and to enter the holding pattern &  bank details foliowise from view folio option in iinvest (Mados). 
2. If any details were updated in folios recently then to call AMC statement to check as latest details may not be updated in view folio.
3. To add column about registrar name and in that mention Cams or Kfintech depending on the AMC.
4. To mark the folios which are eligible for merging.
5. To review whether there are any folios having old or incorrect details which can be updated to make them eligible for merging. (only nominee and bank details can be updated. 1st Holder & 2nd Holder cannot be updated.)
6. Forms to be filled in PDF (forms are attached)
7. To print or email forms depending on client's requirement. We should always send few extra blank forms.
8. After signed forms are received back from client, to submit to submit at respective office of Cams & Kfintech.
9. Cams & Kfintech will take workign 4-5 days to complete the process at their end.
10. At our end, to check in our system after 1 week of submission whether merging is done. 
11. In some cases, if it is not done we can check in AMC statement.
12. For cases which are rejected due to minor errors, form can be resubmitted.