The Securities and Exchange Board of India (Sebi) has introduced a new investor-friendly platform called Mitra (Mutual Fund Investment Tracing and Retrieval Assistant), designed to help individuals locate and recover forgotten or unclaimed mutual fund investments. Over time, many investors have lost track of their mutual fund holdings, either due to a lack of proper record-keeping or because older accounts were opened without a PAN (Permanent Account Number), which was not mandatory before 2006. This has led to a significant number of inactive mutual fund accounts, making it difficult for investors to reclaim their funds.
An inactive folio, as defined by Sebi, is an account that has had no investor activity for 10 years despite holding a balance. Many of these inactive folios belong to investors who may have changed residences, lost access to their registered phone numbers or emails, or simply forgotten about their mutual fund investments over time. With over 7.5 million such inactive folios across different asset management companies (AMCs), the launch of Mitra aims to streamline the process of tracking and reclaiming these investments, ensuring that investors can retrieve their rightful funds without unnecessary delays or complications.
To build and operate Mitra, Sebi has partnered with two of India’s leading mutual fund registrars and transfer agents—KFin Technologies and CAMS. The platform provides investors with multiple ways to search for their old mutual fund folios using details such as PAN, registered phone number, email, bank account number, city, and pin code. The inclusion of multiple search parameters enhances the platform’s accuracy, increasing the chances of successfully tracing inactive holdings. Even if an investor does not remember their folio number or exact investment details, they can still try different combinations of personal information to locate their funds.
One of the key highlights of Mitra is its user-friendly interface, which enables investors to initiate searches quickly and efficiently. The platform allows investors to conduct up to 25 search attempts per user, ensuring multiple opportunities to locate lost investments. Additionally, Sebi has ensured that the platform follows robust security protocols to safeguard sensitive investor data and prevent unauthorized access.
The introduction of Mitra comes at a time when Sebi is making efforts to improve investor protection and encourage better financial planning. In the past, many investors have struggled to reclaim their mutual fund investments due to a lack of information, complex verification procedures, or bureaucratic hurdles. With this initiative, Sebi aims to simplify the process and provide an easy-to-use tool that benefits millions of investors across India.
The platform was officially introduced on 21 February 2025 and will be rolled out in phases. Initially, a beta version will be available for two months, allowing investors to test its functionality and provide feedback for further improvements. Sebi plans to refine the platform based on user experiences, making it even more effective in addressing investor concerns.
Financial experts believe that Mitra will be a game-changer in the mutual fund industry, as it will help investors recover their lost investments while also increasing transparency and accountability among asset management companies. It is expected to boost investor confidence, ensuring that individuals feel more secure about investing in mutual funds, knowing that they have a reliable mechanism to track and retrieve their holdings.
Overall, the launch of the Mitra platform marks a significant step forward in India’s financial ecosystem. By offering a seamless and efficient way to trace and retrieve unclaimed mutual fund investments, Sebi is not only helping investors recover their money but also reinforcing trust in the mutual fund industry. As more investors become aware of the platform, its adoption is expected to grow, benefiting thousands of individuals who may have otherwise lost access to their hard-earned investments.
