Ch.3 · Custodian and RTA Functions · medium
What is a 'minor's account' in mutual fund investing?
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EXPLANATION
Minors (below 18 years) can invest in mutual funds through a folio where the minor is the investor and a natural guardian (parent) or court-appointed guardian manages the account. All transactions are signed by the guardian. Upon the minor attaining age 18, the guardian's authority ends — the new adult must complete fresh KYC and update the folio to become the sole operator.
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