A mutual fund account for a minor (under 18 years) can only be opened in the minor’s name, with a guardian operating it on their behalf:
- Natural Guardian – Father or mother
- Legal Guardian – Court-appointed, with valid documentation (e.g., court order)
Minors cannot open or operate accounts themselves. If both parents are deceased, only a court-appointed legal guardian can open and manage the account.
**Note:**The guardian must be KYC-compliant and can manage the account until the minor turns 18.
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