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Investor Charter for Mutual Funds

Our Vision

To develop the Indian Mutual Fund Industry and bring a high degree of professionalism transparency and ethics by enacting regulations to govern the functioning of mutual funds in order to enhance and maintain standards to protect and promote the interests of unit holders of mutual funds.

Our Mission

  • To support the development of a vibrant, transparent, ethical and globally competitive asset management industry.
  • To enact and enforce rules and regulations that promote the maintenance of high professional and ethical standards in all areas of operation of the mutual fund industry.
  • To work closely with the mutual fund industry in order to recommend and promote good business practices and a code of conduct to be followed by all asset management companies engaged in the activities of investment management in the best interests of unitholders / investors.
  • To recommend standardized operational processes to be followed by the Mutual Fund industry for the convenience and benefit of the investors.
  • To undertake nationwide investor awareness programmes, so as to inform and educate existing and prospective investors about mutual funds as an asset class and to educate the public about the concept and working of mutual funds.
  • To protect the interest of Investors/unit holders.

Description of Activities/Business of the Entity

  • To offer investment opportunities to the investors through various schemes.
  • To pool money by issuing units to the investors at the applicable Net Asset Value (NAV).
  • Deploy the monies pooled from investors in various securities and manage the portfolio in accordance with objectives as disclosed in Scheme Information document and in compliance with all applicable regulations.ย 
  • Disclose various information including NAV on daily basis, Risk-o-meter of schemes, portfolio of the schemes, performance of the schemes, annual report or abridged annual report etc.
  • Pay redemption proceeds and Income Distribution cum Capital Withdrawal (IDCW) etc. to the investors.
  • Process investorโ€™s financial and non โ€“ financial transactions / service requests.

Services provided for Investors

Description of Service / Activity

Providing Consolidated Account Statement (CAS) for each calendar month

Time taken for providing service

For investors who have opted for delivery via electronic mode: Will be dispatched by 12th of succeeding monthย 
For investors who have opted for delivery via physical mode: Will be dispatched by 15th of succeeding month

Description of Service / Activity

Providing Consolidated Account Statement (CAS) for each half year

Time taken for providing service

For investors who have opted for delivery via electronic mode: Will be dispatched by 18th of succeeding monthย 
For investors who have opted for delivery via physical mode: Will be dispatched by 21st of succeeding month

Description of Service / Activity

Request for Dematerialisation of units

Time taken for providing service

Within 2 working Days

Description of Service / Activity

Transfer of units held in SoA mode

Time taken for providing service

Within 2 working Days

Notes:

  1. * All the above mentioned time taken for providing service (Financial & Non-Financial) will be subject to receipt of complete documentation/information from the investor.
  2. Day refers to working day unless otherwise specified.
  3. The Asset Management Companies which fail to meet the stipulated timelines maybe liable for suitable action as deemed fir in terms of SEBI Act, 1992 or regulations framed thereunder.

Grievance Redressal Mechanism for Investors

1.ย In case of any grievance / complaint, an investor should approach the concerned Mutual Fund / Investor Service Centre of the Mutual Fund. If the complaint remains unresolved, the investor may write to the designated Investor Relations Officer of the mutual fund.

2.ย The name of the Investor Relations Officer / contact person is generally mentioned in the Scheme Information Document (SID) of the mutual fund scheme, and also on the website of the concerned mutual fund, whom one may approach / write to in case of any query, complaints or grievance.

3.ย If the investorโ€™s complaint is not redressed satisfactorily, one may lodge a complaint with SEBI on SEBIโ€™s portal, named, โ€˜SCORESโ€™, which is a centralized web based complaints redressal system. SEBI takes up the complaints registered via SCORES (https://scores.sebi.gov.in/) with the concerned mutual fund / intermediary for timely redressal. SCORES facilitates tracking the status of the complaint.

4.ย In cases where investors raise issues, which require adjudication on any third party rights, on questions of law or fact or which is in the nature of a complaint between parties, or if investors are not satisfied with disposal on SCORES post SEBI review, they shall seek appropriate remedies through the Online Dispute Resolution (ODR) mechanism in securities market by registering a complaint via ODR Portal (https://smartodr.in/login). In addition, investors have the option to approach legal forums including civil courts, consumer courts etc. In case the complainant opts for ODR mechanism or other appropriate civil remedies while the complaint is pending on SCORES, the complaint shall be treated as disposed on SCORES.

5.ย 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, โ€˜Gโ€™ Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051.

Do's and Don'ts for Investors

Do's

Don'ts

1. Check registration status of the Mutual Fund on SEBI website before transacting with them.ย 

1.ย Do not invest based on speculation, rumor or informal advice.

2. Read all Scheme related documents and understand the scheme features and the risks involved andย 

2.ย Do not fall for the promise of indicative or exorbitant or assured returns.

3. suitability of the scheme to the investorโ€™s risk profile.ย 

3.ย Do not issue blank cheques or blank signed transaction instructions

4. Provide and keep updated KYC details including address, tax status, residency, and other key information such as PAN & bank account details.

4.ย Do not use third-party bank accounts for fund flows for subscription or redemption of units.

5. Provide own email address and mobile number and to promptly notify changes to this information, if any.ย 

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6. Check Account Statement & Common Account Statements for discrepancy, if any and promptly bring any such discrepancies to the notice of the Asset Management Companyย 

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7. Read communications / notices / addendums / press releases, etc. sent / or published by the mutual fund via newspapers, email, etc.ย 

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8. Consider to avail nomination facility in or register willingness to opt out of the same, in respect of investments made in Mutual Funds.ย 

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9. Choose the plan for investments i.e. Direct Plan or Regular Plan.ย 

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10. Invest through registered and regulated entities.ย 

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11. Keep confidential critical information such as user ID, password, etc.ย 

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12. Invest by issuing payments in the name of the Mutual fund / scheme only and not in the name of any other entity.

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  1. Right to receive information and details about the scheme including about its investment philosophy, risk profile, portfolio holdings, fees, charges and expenses and such other information as may be required under SEBI regulations to enable investors to make an informed decision about investing in a scheme, prior to making any such investment.
  2. Right to timely receipt of account statement evidencing a transaction as specified in the SEBI Mutual Funds Regulations, or to receive such statements on request.
  3. Right to receive Consolidated Account Statement (CAS) at a periodic frequency as specified by SEBI.
  4. Right to timely disclosure of daily Net Asset Values (NAV), Portfolio and Performance of each scheme including schemeโ€™s AUM, investment objective, expense ratios on mutual fund website.
  5. Right to receive Annual report / abridged annual report of the scheme(s) invested in
  6. Right to timely receipt of redemption proceeds / dividend payments / refunds, as applicable.
  7. Right to be notified about any change in the fundamental attributes (features) of a mutual fund scheme in which the investor has investments and to be provided a right to exit the scheme without cost, if so desired, as a result of the fundamental attribute change.
  8. Right to be informed about such disclosures which may have a material bearing on their investments in mutual fund schemes.
  9. Right to privacy of information in accordance with the applicable laws of the land.
  10. Right to security of, and access to, information provided to Asset Management Companies and their service providers in relation to investments in mutual funds. Right to have such information corrected and receive confirmation of such correction.
  11. Right to information about how complaints are handled and can be escalated in the event investors are not satisfied with the resolution provided.
  12. Right to timely redressal of grievances and complaints within the timelines specified by regulations and the right to escalate complaint not resolved satisfactorily to the Investor Grievance Officer of the respective Asset Management Company.
  13. Right to escalate unresolved complaints to SEBI via the SCORES portal and ODR Portal.