Capital markets regulator SEBI on Wednesday made the nomination optional for jointly-held mutual fund accounts in a bid to promote ease of doing business. Additionally, SEBI allowed fund houses to have a single fund manager to oversee commodity and foreign investments. This would reduce the cost of managing the fund.The regulator has set June 30, 2024, as the deadline for all existing individual mutual fund holders to nominate or opt out of nomination. If they fail to comply, their accounts will be frozen for withdrawals.
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