Sebi Unveils 'MITRA': Your Digital Detective for Lost Mutual Fund Investments

The Securities and Exchange Board of India (SEBI) has launched a game-changing platform called MITRA (Mutual Fund Investment Tracing and Retrieval Assistant) to help investors track down their forgotten mutual fund investments. This digital sleuth, set to go live by March 19, 2025, aims to tackle the growing issue of inactive and unclaimed mutual fund folios.

 

MITRA will provide a searchable database for investments that have been dormant for over 10 years. Managed by CAMS and KFIN Technologies, the platform will be accessible through MF Central, AMC websites, and SEBI's portal. It's designed to help investors identify overlooked investments, update KYC details, and reduce the risk of fraudulent redemptions.

 

The launch of MITRA comes as a relief for many investors who have lost track of their investments due to outdated contact information or minimal KYC details. SEBI expects this initiative to enhance transparency, improve investor engagement, and ultimately contribute to long-term wealth creation in the mutual fund industry.

 

Sources: SEBI Circular, Personal FN, Times of India, Business Standard