Cafemutual is a meeting point for all mutual fund professionals. So whether you are a self-employed independent financial advisor (IFA) or a hot-shot private banker with a big bank or a CEO of an AMC or a back office girl, we have something for you. To ensure that you have a productive and enriching experience at our site, spend a few minutes on this guide.
The Cafemutual Charter
What can you expect to see here?
Stay ahead of all the developments taking place in the Indian mutual fund industry. What’s more, all news is presented so that you find it relevant and useful. So whether it is industry news or NFO news or AMC specific news or the latest rankings and awards, expect to see it all here.
Get clarity on the broader issues and trends affecting your business
Benefit from the experience of your fellow IFAs as they share their success stories and best practices
There is a wide range of powerful applications and tools to make you more productive. Upload client portfolios, organise your meetings, compare funds, select funds, research funds…
You will find all the market commentaries and fact sheets of all the fund houses in this section. You can access these reports of all asset classes of any frequency (daily, weekly, monthly) of your choice.
This is the section where we try to address the concerns and issues of our visitors. You could post a query, remove your doubts or just seek more information by writing to us.
You can download the application forms of any fund house here.
Look up these directories when you want to locate addresses and contact details of the offices/ branches of AMCs, R & Ts, trainers, custodians, AMFI and SEBI.
Want to see something that is not there now? Have a suggestion on a topic or a subject? Encountered a technical glitch? Speak up and share. Send us your suggestions and feedback to prem@cafemutual.com. We will be delighted to hear from you!
Close
Non-updation of address, bank details, PAN, and discrepancies in account statements are the most common complaints received by AMCs. Most complaints were resolved within 30 days.
As per the latest AMFI data, most AMCs were able to redress investor complaints within 30 days. AMCs received maximum complaints relating to non-updation of changes like address, PAN, bank details, nomination and discrepancies in account statements.
Industry officials say that error or omission on the part of investors while filing up application forms is one of the main reasons for such complaints. Apart from mistakes made by investors, some errors are also made by data entry operators at the R&Ts.
DSP BlackRock and Religare did not have any pending complaints in the financial year 2012. Both AMCs resolved all investor grievances within 30 days, as the below table indicates.
Among the top 14 AMCs, Religare received the least complaints (256), followed by Kotak Mutual Fund (569). Birla Sun Life AMC received 10100 complaints, out of which 7843 complaints were regarding discrepancies in account statements. UTI Mutual Fund received 6384 complaints, out of which 6311 were resolved in 30 days.
The extent of complaints also depends on the investor base of the fund house. For instance, Reliance MF which has over 70 lakh folios received the maximum number of complaints (23,633). It resolved 98% (23,168) of complaints in 30 days. (See the table below)
Complaints redressed by AMCs
Type of complaints
HDFC
Reliance
ICICI
SBI
FT
DSPBR
Kotak
Tata
Sundaram
Religare
Total complaints received in FY12
8628
23633
9570
4514
3318
1573
569
824
1334
256
Resolved within 30 days
8445
23168
9431
4508
3184
563
823
1333
Source : AMFI