Your Questions Answered: How can I invest in a mutual fund in my child's name?
Investing in mutual funds for children can be an effective strategy to secure their financial future. It involves gathering necessary documents, completing the KYC process, filling out forms, selecting suitable mutual funds, and initiating the investment.
Q. I am a freelance web developer currently working from my hometown. My wife is also a web developer working with a US web development agency remotely. We have two children aged 3 and 5. We wish to invest in mutual funds in the name of our kids in order to secure their future, however, we are not sure whether mutual funds allow investment in the name of children. Separately, I also wish to understand what will be the tax implications of such investments, and what are the benefits of investing in mutual funds in children’s names.
Lewis George, Panaji, Goa