Question: If mutual fund units are held jointly, is nomination compulsory?
Answer: No. For jointly held folios, nomination is optional.

Supporting evidence:
title: sebi.gov.in/1727242783639.pdf
quote: The requirement of nomination is optional for jointly held folios
context: -year, based on the relevant data and information as at the end of September and March respectively. In the meantime, the investors are informed about the material changes by way of addendum to the offer document.

40) How can an investor view unclaimed IDCW / Redemption amount lying in their folios, if any, with a mutual fund and process to claim it?

Investor can find the details of unclaimed amounts on respective website of mutual fund upon key in the necessary information i.e. folio number, date of birth and registered mobile number etc.
To know the process of claiming unclaimed IDCW/Redemption amount, investor should refer to the concerned website of the mutual fund.
The information on unclaimed amount along with its prevailing value (based on income earned on deployment of such unclaimed amount) is separately disclosed to investors through the periodic statement of accounts/CAS sent to the investors.

41) Can an investor appoint a nominee for his investment in units of a mutual fund?

Yes. Regulation 29A of SEBI (Mutual Fund) Regulations, 1996, notifies that the mutual fund shall provide nomination facility to the unit holders to nominate a person in whose favour the units shall be transmitted in the event of death of the unit holder. An investor, investing in mutual fund units has to provide nomination or opt out of nomination through physical or online mode. The requirement of nomination is optional for jointly held folios. A person may nominate upto three persons and clearly indicate the percentage of allocation/share in favour of each of the nominee against their names, and such allocation/share shall be in whole numbers without any decimals. Further an individual may appoint different nominees for different schemes. Non individuals including society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family, holder of Power of Attorney cannot nominate.

42) If mutual fund scheme is wound up, what happens to money invested?

In case of winding up of a scheme, the proceeds of sale realised by disposing of the assets of the scheme after adjustment of liabilities as are due and payable under the scheme and after making appropriate provision for meeting the expenses connected with such winding up, the balance shall be paid to the investors/unitholders in proportion to their respective interest in the assets of the scheme. Unitholders are entitled to receive a report on winding up from the mutual funds which gives all necessary details.