The Securities and Exchange Board of India on 10th December 2021 has prepared an Investor Charter for Mutual Funds, inter-alia, detailing the services provided to Investors, Rights of Investors, various activities of Mutual Funds with timelines, DOs and DON’Ts for Investors and Grievance Redressal Mechanism.
Earlier, SEBI advised asset managing companies to disclose details of investor complaints on annual basis in a prescribed format within 2 months of the close of the financial year.
However, it was modified and decided that all the Mutual Funds shall disclose the details of investor complaints on their respective websites as well as on AMFI website on a monthly basis.The information shall be made available within 7th of succeeding month.
Mutual Funds are advised to bring the Investor Charter for Mutual Funds to the notice of their unit holders (existing as well as new unit holders) through disclosing the Investor Charter on their websites, making them available at prominent places in the office, etc.
Further, Mutual Funds are advised to display link/option to lodge complaint with them directly on their websites and mobile apps. Additionally, link to SCORES website/ link to download mobile app (SEBI SCORES) shall also be provided on their website.
Investors may send their physical complaints to: Office of Investor Assistance and Education, Securities and Exchange Board of India, SEBI Bhavan. Plot No. C4-A, ‘G’ Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051.
