Knowing your rights as a Mutual Fund Investor irons out several irritants in dealing with any constituent of the Industry.
The MF regulation 1996 and the ammendments from time to time has put MF investors right upfront of averything. But it is for the investor to take adequate care before entrusting hard earned money to study the Offer Document undersand the riskprofile of the scheme and match it to one's risk profile and life needs.
Receive the Statement of account within 30 days, receive the repurchase cheques within 10 days, Income Distribution warrants within 30 days, portfolio details every half year and a annual review of performance etc.. are to be seen as guidance for Mutual Funds to improve their service technologies than legal requirements. Indian MFs have realised it and reciprocating better disclosure practices; Any failiures needs to be brought to their notice for faster rectification.
read the original text in Business Manorama dated 2nd April 2007
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