SEBI data reveals that the MF industry has unclaimed amount of over Rs.2600 crore in FY 2023. In FY 2022,the unclaimed amount of the MF industry was Rs.2500 crore.
Unclaimed amounts of mutual funds are on account of non-encashment of dividends and maturity proceeds by investors.
Of the total unclaimed amount, Rs.980 crore is due to unclaimed redemption. This indicates that majority of unclaimed amount i.e. Rs.1660 is in the form of dividend.
SEBI said, “The unclaimed redemption amount of mutual funds decreased by 1.70% to Rs.979 crore at the end of 2022-23 from Rs.995 crore at the end of 2021-22 . But, the unclaimed dividend amount went up by 8% to Rs.1,659 crore in 2022-23 from Rs.1,539 crore in the previous year.”
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