Do Mutual Funds issue a passbook like Banks ?
No, mutual funds do not typically issue a passbook. A passbook is a physical book that records all the transactions related to a bank account, such as deposits, withdrawals, and interest earned. Mutual funds, on the other hand, do not offer a physical passbook as they are not a type of bank account.
When you invest in a mutual fund, you will receive a confirmation statement or a statement of account that provides details about your investment, such as the number of units you hold, the NAV (net asset value) of the fund, and any transactions you have made. You may also be able to access this information online through the mutual fund's website or mobile app.
It's important to keep track of your mutual fund investments and review your statements regularly to ensure that your investment is performing as expected and to make any necessary adjustments to your portfolio.
