OTHER GROUP COMPANIES
market

Most fund houses resolve investor complaints in 30 days

Birla Sun Life MF which has over 2.36 million folios received 10,100 complaints, out of 10,096 were resolved in 30 days

June 07, 2012 4:16 IST | India Infoline News Service
According to the AMFI (Association  of  Mutual  Funds  in  India) data, most mutual fund houses were able to redress investor complaints in 30 days. DSP BlackRock Mutual Fund and Religare Mutual Fund redressed all the complaints received by their investors in the financial year ended 30 March 2012. Both fund houses resolved all the investor grievances within 30 days.
DSP BlackRock MF received 1,573 complaints in FY11-12, while Religare MF received 256 complaints. Both the fund houses resolved the investor complaints in 30 days. India’s oldest mutual fund UTI received 6,384 complaints in FY11-12, of which 6,311 were resolved in 30 days.
Kotak Mutual Fund received 569 complaints in FY11-12, of which 563 redressed in 30 days. In FY11-12, Franklin Templeton Mutual Fund received 3,318 complaints of which it redressed 3,184 in 30 days.
The extent of complaints also depends on the investor base of the fund house. For example, Birla Sun Life MF which has over 2.36 million folios received 10,100 complaints, out of 10,096 were resolved in 30 days.
The fund houses received maximum complaints relating to non-updation of changes like address, PAN card, bank details, nomination and discrepancies in account statements.

Invest wise with Expert advice

FEATURED ARTICLE

BLOGS

Open Demat Account

Invest wise with Expert advice

By continuing, I accept the Terms & Conditions and agree to receive updates on Whatsapp