Can Mutual Funds be inherited?
In general, inheriting Mutual Funds is permitted provided it complies with applicable regulations.
The requirements that must be fulfilled to obtain inheritance rights are as follows:
· Death Certificate
· Letter of Heir Designation from the Local Authority
· Customer and Heir Information
These documents will subsequently be verified by the Custodian Bank and can be transferred to the rightful heirs.
Mutual Funds can only be inherited. However, it is different if you wish to gift Mutual Funds, which is not permitted. Why is this so? In terms of procedure, Mutual Funds recognise only three types of transactions: purchase transactions, sale transactions and transfer of Mutual Funds.
Read also:
Are Mutual Funds considered usury (Riba)?
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PT Syailendra Capital is licensed and supervised by the Indonesia Financial Services Authority (OJK)