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An analysis of AMFI complaints data reveals that investors filed 1,717 complaints in Sept 2022. The analysis covers the top 25 fund houses that reported the highest average AUM in Sept 2022 and includes complaints registered through SCORES (SEBI Complaints Redress System).
Of these fund houses, DSP MF received the least number of complaints. It received only 2 complaints. UTI MF, Tata MF and HSBC MF received 7 complaints each, the second lowest complaint count.
IDFC MF and Baroda BNP Paribas MF registered the third lowest complaint count of 10 each.
Overall, six fund houses reported more than 150 complaints. These include SBI MF, Mirae Asset MF, Sundaram MF, ICICI Prudential MF, quant MF and HDFC MF. Their complaint count was 158, 167, 171, 179, 180 and 187 respectively.
Nature of Complaints
648 complaints were on incorrect data, and other 438 complaints pertained to issues like non-receipt of transaction SMS/email/OTP, SIP registration status and so on.
Also, investors filed 231 complaints on non updation of changes viz. address, PAN, bank details, nomination, etc. Additionally, 142 complaints related to unit allotment delays.
