When investing in a mutual fund, you need to fill up the 'Nomination' section in your application form. To change the nominee later, you need to make changes in the 'Nomination' form and submit it either at the mutual fund's investor service centre or with the Registrar and Transfer Agent (RTA). An individual can nominate upto three persons, but should state the share in favour of each of the nominee. If not specified, the fund house will settle the claim equally among the nominees. The recent launch of MF Central offers a simpler way to do this. Go on its website, select your mutual fund and update the nominee details.