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What is folio consolidation in ICICIDirect?

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Folio consolidation is a process of bringing together all your mutual fund investments under one folio. This saves a lot of inconvenience for tracking your investments in the long run. Technically, more folios mean more account statements to analyze. A consolidated folio means all your MF investments can be part of the same statement.

A folio is a unique client ID for mutual fund investment. It is like a bank account number. Folio number is assigned by the asset management company (AMC). All the mutual funds purchased by a customer through an AMC are mapped under the same folio number. The folio number is present in the account statements.

One person can have multi folio numbers assigned to him by the same fund houses or AMC.

Let's say you have 5 different mutual fund investments in HDFC AMC. All these 5 MF's may have a different folio number. Through consolidation, you can bring all investments under one folio for ease of management.

Investors often make a fresh investment in a fund without quoting an existing folio number with the fund house. It gets difficult to monitor these different folios. Opting for consolidation of folios in a particular fund helps you manage all the investments.

To consolidate your folio, download the folio consolidation order form, fill it and sign it and send it to the address given on the form.

 

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