How can Investors Redress their Complaints
Updated on March 5, 2023
Mutual Fund investors have multiplied manifold and there are varios channels through which investments in Mutual Funds can be made. The Mutual Fund industry is highly regulated and SEBI has formulated guidelines and regulations to protect investors’ interests. In case of any complaint, issue or concern related to their investment, investors can approach the Mutual Fund through its customer helpline/e-mail contact or investor service center. The names of directors and management personnel are also mentioned in the Offer Document of the Mutual Fund scheme or its website, who can be approached as a next level.
What if a mutual fund investor’s concern remains unresolved?
There is an escalation matrix which the investors can follow. If still the issue is not resolved, investors can approach the regulator SEBI for adressing the complaint. SEBI follows it up with the concerned Mutual Fund and shares regular updates with the investors. Investors can follow a stepwise approach wherein Step 1 would be to reach out to the service provider/broker/agent or distributor. Investors can call or send an e-mail as well. Step 2 – If the helpdesk or customer service does not respond or resolve the complaint, the investor can follow SEBI’s complaint redressal mechanism through SCORE (SEBI’s Complaint Redressal System). It is an online complaint management system where investors can register their issues and check its status regularly, till resolved.