Question 1

What is Systematic Transfer Plan (STP)?

Accepted Answer

Systematic Transfer Plan (STP) is the facility where in an investor invests a lump sum amount in one scheme and regularly switches a pre-defined amount into another scheme. According to the frequency of STP selected, on a specified date an amount chosen by the investor is transferred from the source scheme to target scheme of the investor’s choice. To Download the STP form/document  click here. To know about eligible schemes  click here.

Question 2

How to register for Systematic Transfer Plan (STP) online?

Accepted Answer

All existing investors can login to  www.axismf.com website and login to the view the portfolio and register for STP online.

Question 3

How many days required for registering STP?

Accepted Answer

Minimum 7 calendar days are required for the registration of STP.

Question 4

What will be the NAV/ load structure applicable for STP transaction?

Accepted Answer

Please refer Scheme information documents and Statement of additional information of the respective Schemes(s) for Applicable NAV, Risk Factors, Load Structure and other information on the Scheme(s)

Question 5

Frequency available for STP?

Accepted Answer

Frequencies available for STP Weekly (Every Wednesday) Fortnightly (Every Alternate Wednesday) Monthly (1st, 7th, 10th, 15th and, 25th day of the month)

Question 6

What is the minimum installment amount required for STP?

Accepted Answer

Minimum installment amount required for STP is Rs. 1,000/-.

Question 7

What is the minimum no of installment required to register a STP?

Accepted Answer

Minimum no of installments required for STP is 6

Question 8

What happens, if the STP day falls on a non-Business Day?

Accepted Answer

If STP day falls on a non-Business Day, then the STP will be processed on the immediate next Business Day. Units shall be allotted to the target scheme as per the NAV of the day on which the STP is processed.

Question 9

How to stop an STP?

Accepted Answer

Investors can discontinue an STP at any time by sending a written request to any Official Point of Acceptance or to the registrar Karvy. Notice of such discontinuance should be received at least 7 calendar days prior to the due date of the next installment.

Question 10

How to stop STP OR when is STP terminated?

Accepted Answer

Investors can discontinue an STP at any time by sending a written request to any Official Point of Acceptance or to the registrar Karvy. Notice of such discontinuance should be received at least 7 calendar days prior to the due date of the next installment.STP will be automatically terminated if all the units are liquidated or withdrawn from the Source Scheme or pledged or not available for transfer. STP can also be terminated upon the receipt of intimation of death of the unit holder.

Question 11

Who can avail the iSIP facility?

Accepted Answer

An existing individual investor can register SIP online. Investor need to have Net banking with utility payment facility enabled with bank registered in the folio.

Question 12

Which Banks are available for iSIP facility?

Accepted Answer

Investor can register an iSIP only through Bank registered in the folio and the bank should be available for iSIP facility with Axis AMC. Below is the lists of banks available for iSIP:

Question 13

Are the terms and conditions different for iSIP and normal SIP?

Accepted Answer

No. The terms and conditions (like minimum amount, load applicable and dates for SIP etc.) are applicable for iSIP as well as normal SIP.

Question 14

How can the investor apply for iSIP?

Accepted Answer

Fill the Online iSIP application registration form. b)Note the URN (Unique Registration Number) for the transaction. This codehas to be used for registering the SIP on the bank’s net banking website. Log in to the bank’s Netbanking website.Register Axis Mutual Fund as a Biller and enter the URN to complete the transaction. This is valid for 10 calendar days only.

Question 15

What is URN?

Accepted Answer

The Unique Registration Number (URN) is generated upon registering an iSIP on Axis MF website. It is required for setting up the instructions for account debit on the investor’s bank.

Question 16

Can I use my debit card or credit card for this facility?

Accepted Answer

No

Question 17

How many days is the URN valid for?

Accepted Answer

URN is valid for 10 calendar days of iSIP registration on Axis Mutual Fund website. Investor needs to register the URN with the registered bank account within 10 calendar days after which the URN will no longer be available.

Question 18

How to register the URN on the bank's website once the URN is gererated?

Accepted Answer

Login to the Bank’s Netbanking website Go to the Bill Pay or Biller Registration section. Add / Select Axis Mutual Fund from the Biller list in the drop down. Enter the given URN. Note: For convenience, Investor should select Auto Pay option (If available) to avoid authorization for every SIP debit.

Question 19

What is Auto Pay or View and Pay option?

Accepted Answer

There are two options available for iSIP payment through Net Banking: Auto Pay View & Pay In 'Auto Pay', the amount is diectly debited from the bank account on the iSIP due date without any manual intervention. However, Investor has to ascertain that he/ she maintains the required balance in the bank account on iSIP due date. In 'View & Pay', Investor needs to manually authorize the payments on or before the iSIP due date. If the investor fails to authorize this debit; iSIP transaction faces the risk of reversal.Hence, if the investor has opted for the ‘View & Pay’ option for the iSIP, he/s he has to regularly authorize the SIP payment on the opted due date. If Investor does not authorize such payments manually, such transactions will be treated as “Failed” Transactions Hence, if you have opted for the View & Pay option for your iSIP, we request you to regularly authorize the SIP payment on your opted due date. In order to avoid any last minute rush, you could pay your SIP up to 3 days in advance to your due date. If you do not authorize such payments manually, such transactions will be treated as “Failed” Transactions List of banks with the payment option click here.

Question 20

When does the online iSIP get activated?

Accepted Answer

Once the investor has registered the URN on respective bank website under Bill Pay option, iSIP will be activated upon the confirmation received from bank to the Registrar. URN is valid for 10 business days from the date of iSIP registration on Axis Mutual Fund website.

Question 21

Can the investor register for iSIP without Login?

Accepted Answer

If you are an existing investor of Axis MF, then you can start an SIP online by logging in with PAN. If you are new to Axis MF, then you can start an SIP online by selecting the “New Investor” tab. Click here to start a SIP online.

Question 22

What is KYC?

Accepted Answer

KYC is a one-time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc), you need not undergo the same process again when you approach another intermediary.All Mutual funds under the aegis of the Association of Mutual Funds of India (AMFI) have facilitated a centralized platform through CVL,NDML,DotEx, CAMS & KARVY to carry out the KYC procedure on their behalf.Thus once you are successfully registered with CVL, NDML, DotEx, CAMS & KARVY, you can invest in any Mutual Fund in India. There is no separate number that is allotted on your successful registration Your Permanent Account Number (PAN) is the unique identifier.

Question 23

Is KYC mandatory?

Accepted Answer

The requirement is mandatory. Post November 30, 2012 an investor who wishes to open a new account/folio in a mutual fund where he/she has never invested before is required to complete the above formalities on or before that date in order to enable them to invest.

Question 24

Who is required to be KYC compliant?

Accepted Answer

KYC is compulsory for all Individual, Non-individual, NRI and Channel distributor investors.Investors covered under this clause are - Individual, Corporate, Partnership Firms, Trusts, HUF, NRIs including PIOs and all individual and non-individual investors of channel distributors.Individuals shall be required to be KYC compliant for any amount of investment.Please note that it is mandatory for each applicant /unit holder to be KYC-compliant.

Question 25

What do you need to do to complete the KYC process?What are the supporting documents required to be submitted along with the KYC application form?

Accepted Answer

Step 1 : Download and Fill the KYC form For Individuals: Please Click here for (New) KYC Form For Non-Individuals: Please Click here for (New) KYC Form and Annexure Step 2: Attach the following documents (detailed list given below) Step 3: In-Person Verification (IPV): Complete IPV from any of the following: • Any SEBI registered intermediary (e.g. Axis Asset Management Company Limited) • NISM/AMFI certified distributors who are KYD compliant • Scheduled Commercial Banks (in case of Direct investment) Step 4: Submit the KYC form along with necessary documents at the nearest Investor Services center or any other intermediaries of KRA's as mandated by SEBI. Upon receipt and verification of the above documents, a KYC acknowledgement will be issued to each applicant. Note: Updation of KYC information along with IPV is currently a one-time requirement and needs to be completed with any one of the mutual funds i.e. need not be done with all the mutual funds where you have existing investments. From 1st Dec 2012, it is mandatory for investor to complete the above formalities, to enable them to open a new account/folio with any other new Mutual Fund. In case you are an existing investor of Axis Mutual Fund and if you are already KYC Compliant under the erstwhile centralized KYC with CVL (CVLMF) then there will be no effect on subsequent transactions in the existing folios. Existing investors can also invest through new folio.

Question 26

What are the supporting documents required to be submitted along with the KYC application form?

Accepted Answer

For Individual Investors For Resident IndiansIndividual investors will have to produce their proof of identity and proof of address.List of documents admissible as proof of identity:PAN card with photograph. This is a mandatory requirement for all applicants except those who are specifically exempted from obtaining PANUnique Identification Number (UID) (Aadhaar) / Passport/ Voter-ID Card / Driving license Identity card/document with applicant’s photo, issued by any of the following: Central/State Government and its Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Counciletc to their Members; and Credit cards/Debit cards issued by Banks. List of documents admissible as proof of address: Unique Identification Number (UID) (Aadhaar) Driving License Passport Voters Identity Card Ration Card Registered Lease / Sale Agreement of Residence Flat Maintenance bill

Question 27

If the investor has completed the KYC process through CVL, NDML, CAMS, DotEx & KARVY Ventures Ltd (CVL) but has never invested with any Mutual Fund; Will he/ she have to complete KYC formalities again with each new KRA appointed by SEBI?

Accepted Answer

Yes, if KYC is done prior to 1st Jan 2012.For an Individual investor who has done KYC prior to 1st Jan 2012:Fill up the KYC details change form (Section A & B mandatory).Submit the form with supporting documents at any of the  AMC office or SEBI registered intermediaries.Following additional details are requiredFather’s/Spouse Name,Marital Status,Nationality,Gross Annual Income or Net worth as on recent dateIn-Person Verification (IPV)In-Person Verification (IPV) is required to be completed by the individual investors while completing the revised KYC as mentioned above.For a non-individual investor and have done KYC prior to 1st Jan 2012:The entire KYC process has to be done afresh due to significant changes in KYC requirements.Please fill the enclosed KYC form. Submit the form with supporting documents at any of our  AMC office or SEBI registered intermediaries.

Question 28

What is the difference in completing KYC formalities now and as done through CVL earlier (prior to 1st Jan 2012)?

Accepted Answer

The new KYC norms, as laid down by SEBI, mandate certain additional information to be collected as compared to the KYC being done vide CVL up to  December 31, 2011. Following additional details are required Father’s/Spouse Name, Marital Status, Nationality,Gross Annual Income or Net worth as on recent date Additionally, it is mandatory to complete In-Person Verification (IPV).

Question 29

What is IPV?

Accepted Answer

IPV stands for In-Person Verification. The new common KYC regulation mandates all intermediaries should complete In-Person Verification (IPV) for all clients. Mere submission of identity and address proofs is not sufficient.

Question 30

Who are authorized to perform IPV?

Accepted Answer

All intermediaries in the securities market are authorized to conduct IPV.In case of Mutual Funds, below are the entities authorized to perform IPV:Asset Management Companies (AMCs) Distributors who comply with the certification process of National Institute of Securities Market (NISM) or Association of Mutual Funds (AMFI) and have undergone the process of 'Know Your Distributor (KYD)'Further, in case of any applications received directly from the investors (i.e. without being routed through the distributors), the Mutual Fund may rely upon the IPV (on the KYC Application Form) performed by the scheduled commercial banks.

Question 31

Is it mandatory to attest the documents submitted along with KYC application form?

Accepted Answer

Yes

Question 32

How will I know if KYC is done?

Accepted Answer

The intermediary will provide an acknowledgement letter to the investor that he/ she has completed the KYC formalities and submitted the requisite documents for the same. Further, the KRA will also send a confirmation letter within 10 days of receipt of the documents from the intermediary.

Question 33

Where can I go to complete my KYC formalities?

Accepted Answer

You may visit any of our ISCs to complete the KYC formalities. Please click here to locate our ISC closest to you.

Question 34

How long does it take to complete the KYC formalities?

Accepted Answer

It takes upto 3 business days to complete the KYC formalities if complete and proper documentation is received. However, Investor may start transacting immediately on receipt of the KYC acknowledgement letter from the intermediary.

Question 35

I am an NRI and am currently out of India. I wish to complete my KYC formalities. Please guide.

Accepted Answer

The duly completed KYC application form along with the requisite documents can be submitted at any of our ISCs, with the IPV section completed by your distributor (who is NISM/ AMFI certified and has complied with the KYD formalities) or a scheduled commercial bank.

Question 36

Can change in my KYC details be communicated over an email?

Accepted Answer

Any change in the KYC details has to be submitted through a duly completed KYC details change form along with the requisite documents. Any request will not be accepted over an email.

Question 37

Can the investor send the KYC forms along with the documents by courier/ post?

Accepted Answer

Yes, the investor may submit the duly completed form along with the requisite documents at any of ISCs, provided the IPV section is completed by the distributor (who is NISM/ AMFI certified and has complied with the KYD formalities) or a scheduled commercial bank. For Mutual Fund transactions routed through Stock Exchanges, the KYC done by the Depository Participant is accepted.

Question 38

Investor is transacting in Mutual Funds through a broker on the NSE MFSS platform. Does it make any difference?

Accepted Answer

For Mutual Fund transactions routed through Stock Exchanges, the KYC done by the Depository Participant is accepted. Investor is requested to get in touch with the Depository Participant to seek clarification in this regard.

Question 39

If the investor has completed the KYC formalities through CVL, NDML, DotEx, CAMS & KARVY earlier and now wishes to change the address and contact details.

Accepted Answer

Any change in the KYC details has to be submitted through a duly completed  KYC details change form along with the requisite documents.

Question 40

Investors from Sikkim and does not have a PAN. How can he/ she complete KYC formalities?

Accepted Answer

Investors from Sikkim are also required to complete KYC formalities. In lieu of PAN, applicants will have to submit a valid proof of identity, a list of which is available in the KYC application form.

Question 41

Will the investor still have to comply with the KYC regulations in order to enroll for a Micro-SIP?

Accepted Answer

Yes. Investors who wish to enroll for a Micro SIP are also required to complete KYC formalities. In lieu of PAN, applicants will have to submit a valid proof of identity, a list of which is available in the KYC application form.

Question 42

Why investors need to do KYC again?

Accepted Answer

Why investors need to do KYC again? All mutual funds registered with SEBI had agreed upon a common set of documentation and designated a single agency -CDSL Ventures Limited for a one time registration of these documents. However an investor had to undergo KYC formalities again if he/she chose to invest in other than Mutual funds like shares, and bonds and in schemes floated by other SEBI registered intermediaries. To bring uniformity in KYC requirements for the securities markets, SEBI vide its circular MIRSD/SE/Cir-21/2011 dated 05th October 2011 prescribed the following with effect from January 1, 2012. Standard KYC form with uniform KYC guidelines and supporting documents to be used by SEBI registered intermediaries such as Mutual Funds, Depository Participants, Portfolio Managers, Collective Income Schemes and Venture Capital Funds. Centralized KYC registration through KYC Registration Agencies (KRAs) registered with SEBI Thus each investor has to undergo a uniform KYC process only once i e securities market based on SEBI prescribed norms and the details would be shared with the other SEBI registered intermediaries by the KRAs.

Question 43

What is the ‘missing/not available KYC information’ that needs to be updated?

Accepted Answer

In case of Individuals, missing/not available details to be taken afresh are as follows: Father’s/Spouse Name, Marital Status, Nationality, Gross Annual Income or Net worth as on recent date In-Person Verification (IPV) In case of Non Individuals, KYC needs to be done afresh due to significant and major changes in KYC requirements.

Question 44

How can investors update their ‘missing/not available’ KYC information?

Accepted Answer

Investors need to use relevant forms as detailed below to update the KYC information. Individuals CVL-KRA has issued a ‘KYC Details Change Form’ which can be used for this purpose. While this form can be used for changing address or email id, Section B of the form highlights ‘Mandatory fields for KYCs done before 1 January 2012.

Question 45

Can the investor continue to invest in funds where he/ she already has investments in? Will this affect my ongoing SIP investments?

Accepted Answer

This will not affect subsequent transactions (or ongoing SIPs) of investors in their existing mutual fund folios/accounts provided they were KYC compliant under the erstwhile centralized KYC with CVL (CVLMF). However please note to register any change in the KYC information like address, contact information KYC updation and IPV (one time) as detailed above is mandatory. So it is best advised to complete these formalities once and for all.

Question 46

Are there any Exceptions / Benefits?

Accepted Answer

These details are required to be updated only if the KYC status as per CVL-KRA reflects as MF - VERIFIED BY CVLMF.If investor approaches any SEBI Registered intermediary other than Mutual Funds (like Depository Participants, Portfolio Managers, Collective Income Schemes and Venture Capital Funds) to trade/invest/deal/open an account, such intermediary will obtain the missing information required to update KRA records.

Question 47

How to edit contact details (Pre Login)?

Accepted Answer

1. Click on Edit Contact Details” on www. Axismf.com Link: https://online.axismf.com/NewInvestor/EditPersonalDetails.aspx 2. Select Fresh Request and enter – Folio no, PAN no and registered Bank a/c no.3. Edit/ update required contact detail (Mobile no/ Email id) and Confirm. 4. A security code and reference No. will be sent to your registered mobile/ email id. 5. Select Validate Request and enter – Folio no and Security Code. 6. New contact detail will be updated into your folio immediately.

Question 48

Can I update both – Mobile no and Email id at a time (Pre Login) ?

Accepted Answer

No

Question 49

What is the TAT for updation of new Contact Details into the folio (Pre Login)?

Accepted Answer

It will be updated immediately.

Question 50

How will I be informed that same is being updated into my Folio (Pre Login)?

Accepted Answer

For Mobile no Confirmation SMS will be sent to your new as well as old mobile no. and email to your registered email id. For Email id Confirmation Email will be sent to your new as well as old email id and SMS to your registered mobile no. Additionally on next day an account statement with updated contact details will be sent to your registered email id.

Question 51

Can I update my mobile no and email id if the same is not available into the folio (Pre Login)?

Accepted Answer

No, you need to submit written request to any Investor Service Center of Axis Mutual Fund.

Question 52

How many times I can edit the details in a day (Pre Login)?

Accepted Answer

Allow to update/ change the details only Twice in a day. (Twice for Mobile no and twice for email id)

Question 53

How to edit the contact details (Post Login)?

Accepted Answer

Registered user: Login in with user id or PAN Select “My Profile” option Select the folio for which the contact details have to be edited Click on the edit icon and enter the new contact details An OTP will be sent to the alternate contact detail On entering the OTP, contact details will be updated immediately

Question 54

How many times I can edit the details in a day (Post Login)?

Accepted Answer

Allow to update/ change the details only Twice in a day. (Twice for Mobile no and twice for email id)

Question 55

What is the TAT for updation of new Contact Details into the folio (Post Login)?

Accepted Answer

It will be updated immediately.

Question 56

Can I update my mobile no and email id if the same is not available into the folio (Post Login)?

Accepted Answer

No, you need to submit written request to any Investor Service Center of Axis Mutual Fund.

Question 57

What is an account statement?

Accepted Answer

The industry issues a consolidated account statement across fund houses once a month. However one is free to request for an account statement with each fund house that will reflect just holdings in the schemes managed by that fund house. There are charges levied for requesting an account statement. What is an account statement? An account statement reflects your holding in your scheme. An account statement will reflect the following: Scheme you have invested in The amount you invested, the purchase price and the units you were allotted Other details like Bank details, mailing and contact details, nominee details etc.

Question 58

What is a Consolidated Account statement (CAS)?

Accepted Answer

Consolidated Account Statement is a single account statement that consolidates financial transactions in all folios of an investor across all schemes of all mutual funds. Consolidated Account Statements (CAS) are being issued consequent to amendment in SEBI Regulations.

Question 59

When will one receive the consolidated account statement?

Accepted Answer

A consolidated account statement will be sent either on or before the tenth day of succeeding month, detailing all the transactions and holding at the end of the month including transaction charges paid to the distributor, across all schemes of all mutual funds and to those investors in whose folios transaction has taken place during that month.

Question 60

What will be the basis for consolidation of folios to be considered for CAS?

Accepted Answer

As per amendment to SEBI regulations, the asset management company shall identify common investors across fund houses by their permanent account number (PAN) for the purposes of sending consolidated account statement.Consequently, only those folios that have a)Financial transactions in a month, b)Identical holders and c)All unit holders are KYC compliant will be considered and consolidated while issuing a consolidated account statement.

Question 61

Which folios will be included or consolidated in CAS? Whether all the folios will be reflected in the monthly CAS?

Accepted Answer

A monthly CAS will include only those folios in which financial transactions have taken place during the month, provided the folios have valid PAN numbers available for all the unit holders. For example, if an investor has three folios and transacts in only two folios in a month, the CAS for the month will include only the two folios and not the third folio.

Question 62

What happens if there are no financial transactions in a particular folio for the month?

Accepted Answer

CAS will include only the folios with financial transactions and hence these folios will not reflect in the statement.

Question 63

Which financial transactions will be included in CAS?

Accepted Answer

CAS will include all types of financial transactions like purchase including NFOs, redemption including maturity, switches, systematic transactions like SIP, SWP, STP etc. dividend payouts or reinvestments, merger, bonus transactions etc. Please note that non-financial transactions like updating of addresses, bank details, nominee registration etc. will not be included as confirmation for these will be sent separately by individual AMCs.

Question 64

I hold units in dematerialized mode. Will I get a CAS?

Accepted Answer

Transactions under dematerialized mode will not be included as investors should check their dematerialized account statement for the same.

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