Ch.9 · Systematic Transactions — SIP, SWP, STP · medium

Can a minor investor have a joint holding in a mutual fund folio?

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EXPLANATION

A minor cannot be a joint holder in a mutual fund folio. The minor must be the sole account holder, with the guardian designated separately to operate the folio. Joint holding with a minor is not permitted.

A.Yes — a minor can be either first or second joint holder

B.Yes — as long as one of the joint holders is an adult

C.Yes — but only if the joint holder is a parent

D.No — a minor can only be the sole account holder with a guardian operating the folio [✓ Correct]

EXPLANATION

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