Rights of a Mutual Fund Investor: SEBI

Rights of a Mutual Fund Investor: SEBI
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  • To receive the SAI, SID or KIM from the mutual fund upon request
  • To enter into any scheme without entry load
  • To receive dividends / interest / redemption proceeds though ECS / NEFT / RTGS, wherever such facility is available
  • To receive
    • refund within 5 working days of closure of NFO
    • dividend within 30 days of its declaration
    • redemption proceeds within 10 working days of request
  • To receive interest @ 15% p.a. for delay beyond aforesaid period for dividend and redemption proceeds
  • To receive statement of account within 5 working days from the
    • date of closure of initial subscription list (NFO)
    • date of request in case of open ended scheme
  • To receive credit of units in demat account
    • within 5 working days from the date of closure of initial subscription list (NFO)
  • To have the NAV of the scheme(s) in at least two daily newspapers and on the websites of the concerned MF and AMFI
  • To receive bonus units
  • To receive within 1 month, from the close of each half year, complete statement of a scheme‚Äôs portfolio
    • either directly or
    • through an advertisement in a national English daily and the regional language newspaper where the AMC is head quartered
  • To change the distributor without obtaining an NOC from the existing distributor
  • To receive within 4 months, the scheme wise
    • annual report of a mutual fund or
    • an abridged summary thereof with an option to inspect the full annual report and take copies at the Head Office of the MF
  • To be informed about any proposed change
    • in the fundamental attributes of a scheme
    • in ownership pattern of the AMC and be given an option to exit at the prevailing net asset value without any exit load
  • To collectively (i.e. by at least 75% unit holders of the scheme) pass a resolution to
    • terminate the appointment of the AMC
    • wind up a scheme
  • Not to be fed with misleading and / or inaccurate advertisements
  • Not to be charged exit load on any units issued
    • as bonus
    • for reinvestment of dividend
  • Not to be charged a differential exit load based upon amount of subscription

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