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Investors filed 1,561 complaints in Dec 2022, shows AMFI data for the top 25 fund houses. These include complaints received through SCORES i.e. SEBI Complaints Redress System.
In terms of the total number, IDFC MF received only 3 complaints, the least among other fund houses. DSP MF registered the next lowest count of 4 complaints and with 7 complaints each, UTI MF and Invesco MF reported the third lowest count.
Tata MF and Baroda BNP Paribas MF received the next lowest complaint count of 9 complaints each.
Notably, these are the only six fund houses to report less than 10 complaints.
Overall, seven fund houses received over 100 complaints. These include SBI MF, Sundaram MF, Mirae MF, Asset MF, quant MF, Axis MF, ICICI Prudential MF and HDFC MF. Their complaint count stood at 101, 112, 118, 162, 168, 177 and 208 respectively.
What was the nature of these complaints?
Of the total 1,561 complaints, 504 complaints pertained to data corrections and other 457 complaints were on issues like non-receipt of transaction SMS/email/OTP, SIP registration status, etc.
Additionally, 202 complaints related to non updation of changes viz. address, PAN, bank details, nomination, etc and 132 were on delay in allotment of units.
