Know Your Rights

in #steemit5 years ago

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@indiamart.com

The Rights Of A Mutual Fund Investor

@MUTUAL FUND INVESTMENT IS A SUBJECT TO MARKET RISK. PLEASE READ ALL THE DOCUMENTS CAREFULLY BEFORE INVESTING

Every mutual fund investor enjoys certain rights guaranteed by the market regulator and other legal provisions. Below is a quick reckoner on the investor rights.

  • Every investor has the right to receive redemption proceeding within 10 working days. The investor has a right to receive interest rate at 15% p.a. for the period of delay after the expiry on the 10th day. The same applies when one receives dividend – but here the only difference is the number of days i.e. 30 days instead of 10 working days.

  • When an investor decides to invest in a mutual fund scheme – he has the right to go through the scheme details of the documents. These documents are called SID (Scheme Information Documents), which together form as the offer document of the scheme. The investor will also get the KIM (Key Information Document) which gives the investor important information about the scheme and the fund house. If there is any change in the documents, then the fund house will inform the investor about it.

  • Investors receive annual reports from the fund house about their portfolio of investments. This could be through e-mail or post. The investor should get an email or SMS alert or both – and this should be within 5 working days, after we have invested in the fund. The same is true for SIP or periodic lumpsum investments. At present, some of the top registrars in the mutual fund business, send together combined monthly updates of the transactions done during the month. Fund houses too update their investors pertaining to their statement of accounts, portfolios through newspapers and advertisements.

@MUTUAL FUND INVESTMENT IS A SUBJECT TO MARKET RISK. PLEASE READ ALL THE DOCUMENTS CAREFULLY BEFORE INVESTING!

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