Mumbai, March 26 -- Many investors unknowingly leave behind unclaimed mutual fund holdings simply because their family members aren't aware of them. To solve this issue, the Securities and Exchange Board of India (Sebi) has introduced a new mechanism that integrates mutual fund statements with DigiLocker, ensuring that nominees can easily access investment details when needed.

The initiative is aimed at reducing unclaimed assets in the securities market, ensuring that family members of deceased investors are promptly informed of their holdings.

DigiLocker, a government-backed digital document wallet, stores Aadhaar, PAN, driving licence, and insurance policies. By adding mutual fund statements and demat holdings to the platform, the mar...