Attention Mutual Fund Investors! Not linked your portfolios with Permanent Account Number (PAN) yet? Then you cannot continue investing in these mutual funds for long. No more investments in mutual fund portfolios not linked to PAN card. Because asset management companies have decided to freeze mutual fund portfolios that are not linked to PAN card from the next financial year. Asset management companies have asked investors to link mutual fund accounts with PAN by March 31, 2023.
Neither can SIP
Amfi (Association of Mutual Funds in India), an organization of mutual funds, has informed that investors will not be able to make any kind of investment in mutual fund portfolios that are not linked to PAN from April 2023. Lump sum investment in mutual funds and investment through SIP is not possible unless the folios are linked to the PAN card. Dividend pay-out provided by mutual fund schemes is also not allowed for such folios. Mutual fund investments are made by many investors who do not have the knowledge or interest to invest directly in the stock market.
English Summary : Mutual Fund Investment and Pan card