Market regulator Sebi today asked mutual fund houses to disclose the details of investor complaints on websites, as well as in annual reports, to enable clients to make more informed decisions.
"Mutual Funds shall henceforth disclose on their websites, on the AMFI website as well as in their Annual reports, details of investor complaints received by them from all sources," the Securities and Exchanges Board of India said in a circular.
Following the circular, all Asset Management Companies (AMCs) will have to put up the data for the bygone fiscal by June 30, 2010, and for each new fiscal within two month of the close of the year.
Sebi expects the disclosure norms would improve transparency in functioning of the AMCs and would enable investors to take informed decisions.
In order to increase investor interest in MFs, the market regulator had last year abolished entry load and asked fund houses not to deduct marketing and distribution charges from the investment made by customers.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app