The latest AMFI data shows that most AMCs were able to resolve investor complaints within 30 days. Of the 17,721 complaints received during the year, only 154 complaints were unresolved after 30 days.
That means, over 99% or 17573 of the total complaints received have been resolved within 30 days.
An analysis of AMFI data reveals that investors have generally raised complaints regarding data updation, correction in investor details or discrepancy in statement of accounts.
Among AMCs, HDFC MF received the highest number of complaints (5,293) followed by L&T MF with 2,864 and ICICI Prudential MF 2,340 complaints. Typically, fund houses having higher number of folios tend to see higher complaints.
IIFL MF and IDBI MF received the lowest number of complaints partly due to less number of folios.
Please note that the data does not include complaint data of Kotak Mahindra MF, ITI MF and IL&FS MF due to unavailability of this data on AMFI website.
Investor complaints against fund houses:
|
Name of the fund house |
No of complaints pending at the beginning of the year |
No of complaints received in FY 2019-20 |
Complaints resolved within 30 days |
Percentage complaints against folios |
|
HDFC Mutual Fund |
6 |
5293 |
5268 |
0.06% |
|
L&T Mutual Fund |
20 |
2864 |
2850 |
0.10% |
|
ICICI Prudential Mutual Fund |
13 |
2340 |
2343 |
0.02% |
|
Franklin Templeton Mutual Fund |
19 |
1228 |
1208 |
0.03% |
|
SBI Mutual Fund |
21 |
1125 |
1126 |
0.01% |
|
Nippon India Mutual Fund |
29 |
1119 |
1124 |
0.01% |
|
Axis Mutual Fund |
13 |
962 |
920 |
0.02% |
|
Principal Mutual Fund |
0 |
415 |
381 |
0.08% |
|
IDFC Mutual Fund |
6 |
297 |
294 |
0.02% |
|
UTI Mutual Fund |
0 |
227 |
227 |
0.00% |
|
Aditya Birla Sun Life Mutual Fund |
6 |
201 |
206 |
0.00% |
|
Motilal Oswal Mutual Fund |
11 |
200 |
202 |
0.02% |
|
Tata Mutual Fund |
3 |
191 |
184 |
0.01% |
|
Canara Robeco Mutual Fund |
0 |
158 |
158 |
0.01% |
|
Baroda Mutual Fund |
0 |
148 |
138 |
0.04% |
|
Union Mutual Fund |
0 |
108 |
108 |
0.04% |
|
Quantum Mutual Fund |
0 |
94 |
94 |
0.14% |
|
BNP Paribas Mutual Fund |
0 |
91 |
91 |
0.03% |
|
Mahindra Manulife Mutual Fund |
0 |
80 |
80 |
0.04% |
|
LIC Mutual Fund |
0 |
80 |
74 |
0.02% |
|
DSP Mutual Fund |
0 |
79 |
77 |
0.00% |
|
Mirae Asset Mutual Fund |
3 |
73 |
72 |
0.00% |
|
PGIM India Mutual Fund |
0 |
62 |
62 |
0.06% |
|
HSBC Mutual Fund |
1 |
54 |
54 |
0.04% |
|
Invesco Mutual Fund |
0 |
54 |
54 |
0.01% |
|
BOI AXA Mutual Fund |
0 |
41 |
41 |
0.04% |
|
Sahara Mutual Fund |
0 |
40 |
40 |
0.55% |
|
Edelweiss Mutual Fund |
0 |
29 |
29 |
0.01% |
|
PPFAS Mutual Fund |
0 |
24 |
24 |
0.01% |
|
Indiabulls Mutual Fund |
0 |
19 |
19 |
0.02% |
|
Essel Mutual Fund |
0 |
12 |
12 |
0.02% |
|
IDBI Mutual Fund |
0 |
9 |
9 |
0.00% |
|
IIFL Mutual Fund |
0 |
4 |
4 |
0.01% |
|
JM Financial Mutual Fund |
3 |
0 |
0 |
0.00% |
|
Shriram Mutual Fund |
0 |
0 |
0 |
0.01% |
|
YES Mutual Fund |
0 |
0 |
0 |
0.00% |
|
Total |
154 |
17721 |
17573 |
|
