SEBI launches ‘Mitra’ platform to help investors trace lost or inactive MF investments

Investors in mutual fund schemes who are unable to trace their old investments--either due to the demise of the unitholder or loss of investment details--now have a central way to locate them. Fund houses, along with their registrars and transfer agents (RTAs), have introduced a digital platform called Mitra to help investors track inactive and unclaimed mutual fund folios.

WHAT IS MITRA?
Mitra (Mutual Fund Investment Tracing and Retrieval Assistant) is a Sebibacked initiative developed by the RTAs of mutual funds. It is a centralised platform where investors, nominees, or legal heirs can check if they have any forgotten or unclaimed mutual fund holdings. The platform ensures that rightful investors or their legal heirs can trace and reclaim inactive or unclaimed investments.


WHY DID SEBI LAUNCH MITRA?
Over the years, many investors have lost track of their mutual fund investments due to changes in contact details or PANs not being provided and linked to folios.

There are also cases where investors misplaced account statements or were unaware of investments made by deceased family members. Such inactive folios can be vulnerable to fraudulent redemptions, and unclaimed dividends may be transferred to investor protection funds.

Mitra enhances transparency and reduces these risks. It also encourages investors to update their Know Your Customer (KYC) details, which helps reactivate inactive folios and prevents future issues such as delayed fund access or tax penalties. Without proper tracking, rightful investors or their heirs risk missing out on funds that belong to them.

HOW CAN AN INVESTOR USE MITRA?
Mitra offers a unified search facility across the mutual fund industry. The platform is accessible through multiple channels, including MF Central, AMC websites, the AMFI website, the Sebi website, and RTA platforms.

It is jointly managed by CAMS and KFin Technologies. Investors need to register on mfcentral.com, enter the Mitra section, and provide the required information. Searches can be refined using optional details such as date of birth, nominee information, or bank account details.

If the search returns folios, investors can contact the AMC or RTA, submit the required documents for verification, and, upon successful verification, the RTA will update missing details and issue account statements.