Holding units in Demat mode
What is the process to request units to be allotted to my demat account?
To have units allotted to your demat account, you should update the correct demat account details in the application form. Ensure that you include a copy of your Client Master List (CML) with the application. Sample of the portion available in our application form is given herein for reference;
What is the process of converting units from SOA to Demat Mode?
To convert existing units from Statement of Account (SOA) form to demat mode, you need to submit a Conversion Request Form (CRF) to your Depository Participant (DP). The AMC/ RTA will aim to credit the units to your DP account within 2 working days from the date of AMC/ RTA receiving a valid request with complete details.
What is the process of converting units from Demat to SOA/Remat Mode?
If you wish to change units from demat to remat (physical) form, you can place a rematerialization request through your DP. The dematerialized units will be converted to physical form, and the respective units' Statement of Account will be issued to the investors by the Fund.
How are the systematic investment/transaction/trigger facilities handled under Demat Mode?
If you have a Systematic Investment Plan (SIP) registered with the mutual fund, the trigger and unit allotment will be completed on the fund's end. Post allotment of SIP units, they will be credited to your demat account. Trigger execution for SIPs registered with the exchange will depend on feeds received from the Exchange, and unit allotment will occur accordingly.
How can I change investor profile/bank account details in Demat Mode?
To update investor profile details, including nomination or bank account details related to units held in demat mode, you should contact your Depository Participant (DP). Your DP will guide you through the process of making changes to your information.
If I opt to receive units in my demat account at the time of purchase, when will I receive the credit of units in my demat account?
Transaction confirmation specifying the allotted units will be sent by the Fund via email and/or SMS within 5 business days. Credit of units will be done within 5 working days after the receipt of the transaction.
Who will send me the account statement for units held in demat mode?
The statement reflecting the units held / transacted in demat mode will be sent to you by your Depository /Depository Participant (DP) periodically.
Will the allotment for SIP units be done in demat account?
The option to receive SIP units in demat account is available for new SIPs registered after January 1, 2012.
I have a folio with live investments in 2 schemes of HDFC Mutual Fund. I wish to view the units of 1 of the schemes in my demat account. Can that be done?
Yes, it is possible to view the units of one of the schemes in your demat account after the dematerialization of the units in that scheme. However, it's important to note that the account statement for the folio will not contain details about the units in dematerialized form.
I wish to redeem the units which are in my demat account. How can I do that?
To redeem units from your demat account, you need to approach your Depository Participant (DP) or broker for stock exchange transactions. You cannot redeem these units from any office of HDFC Mutual Fund or RTA (CAMS).
Can I switch units from a scheme which are in my demat account to any other scheme?
Switch facility is not directly available for units held in demat mode. Investors have to put in redemption request in one scheme and purchase request in the relevant scheme.
What provisions govern holding, transacting, and transferring of units held in demat mode?
The holding, transacting, and transfer of units held in demat mode should comply with the provisions under the Scheme Information Documents, SEBI (Mutual Funds) Regulations, 1996, and the procedures/requirements established by the Depositories (NSDL/CDSL) in accordance with the provisions under the Depositories Act, 1996, and the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018.