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AMFI data shows that MF investors registered 1,967 complaints in July 2024. These represent total complaints (including complaints received through SCORES) filed with all the fund houses.
Four fund houses - Groww MF, WhiteOak Capital MF, Shriram MF and ITI MF did not receive any complaint whereas Helios MF, Old Bridge MF and Samco MF received one complaint each.
Similarly, Trust MF, 360 ONE MF and Tauras MF reported 2 complaints each.
Overall, eight fund houses - Franklin Templeton MF, Mirae Asset MF, Motilal Oswal MF, Nippon India MF, ICICI Prudential MF, Kotak MF, HDFC MF, SBI MF, Quant MF received more than 100 complaints each.
There are a total of 1,967 investor complaints as on July 2024, compared to 1,749 complaints in July 2023.
Let us look at the table to know more:
|
S.no |
Fund house |
Complaints July 2023 |
Complaints July 2024 |
|
1 |
Groww |
0 |
0 |
|
2 |
WhiteOak Capital |
0 |
0 |
|
3 |
Shriram |
0 |
0 |
|
4 |
ITI |
0 |
0 |
|
5 |
Helios |
not available |
1 |
|
6 |
Old Bridge |
not available |
1 |
|
7 |
Samco |
4 |
1 |
|
8 |
Trust |
0 |
2 |
|
9 |
360 ONE |
0 |
2 |
|
10 |
Taurus |
2 |
2 |
|
11 |
Zerodha |
not available |
3 |
|
12 |
Quantum |
3 |
3 |
|
13 |
Bank of India |
14 |
5 |
|
14 |
Bandhan |
7 |
5 |
|
15 |
UTI |
7 |
7 |
|
16 |
JM Financial |
1 |
8 |
|
17 |
NJ |
4 |
8 |
|
18 |
Invesco |
9 |
9 |
|
19 |
DSP |
0 |
9 |
|
20 |
PGIM India |
25 |
15 |
|
21 |
Union |
11 |
19 |
|
22 |
Navi |
39 |
22 |
|
23 |
Canara Robeco |
24 |
24 |
|
24 |
PPFAS |
8 |
27 |
|
25 |
Tata |
4 |
39 |
|
26 |
Baroda BNP Paribas |
20 |
45 |
|
27 |
LIC |
55 |
47 |
|
28 |
Mahindra Manulife |
21 |
49 |
|
29 |
Edelweiss |
45 |
50 |
|
30 |
Bajaj Finserv |
0 |
58 |
|
31 |
Aditya Birla Sun Life |
21 |
62 |
|
32 |
Sundaram |
91 |
66 |
|
33 |
HSBC |
49 |
74 |
|
34 |
Axis |
210 |
75 |
|
35 |
Franklin Templeton |
83 |
101 |
|
36 |
Mirae Asset |
130 |
104 |
|
37 |
Motilal Oswal |
49 |
110 |
|
38 |
Nippon India |
88 |
111 |
|
39 |
ICICI Prudential |
171 |
125 |
|
40 |
Kotak |
89 |
125 |
|
41 |
HDFC |
160 |
160 |
|
42 |
SBI |
143 |
187 |
|
43 |
Quant |
162 |
206 |
|
|
Total |
1,749 |
1,967 |
Type of complaints
In July 2024, investors largely complained about data corrections in investor details and non-updation of changes like address, PAN, bank details, nomination, etc.
Of the total 1,967 complaints, 776 investors complained about data correction, 200 investors about non updating of changes and 172 complaints about non-receipt of redemption proceeds.
Let us look at the types and number of complaints across various categories.
|
Complaint type |
Number |
|
Non-receipt of amount declared under Income Distribution cum Capital Withdrawal option |
5 |
|
Interest on delayed payment of amount declared under Income Distribution cum Capital Withdrawal option |
1 |
|
Non-receipt of Redemption Proceeds |
172 |
|
Interest on delayed payment of Redemption |
21 |
|
Non-receipt of Statement of Account/Unit Certificate |
21 |
|
Discrepancy in Statement of Account |
85 |
|
Data corrections in Investor details |
776 |
|
Non-receipt of Annual Report/Abridged Summary |
1 |
|
Wrong switch between Schemes |
5 |
|
Unauthorized switch between Schemes |
1 |
|
Deviation from Scheme attributes |
0 |
|
Wrong or excess charges/load |
4 |
|
"Non updation of changes viz. address, PAN, bank details, nomination, etc" |
215 |
|
Delay in allotment of Units |
131 |
|
Unauthorized Redemption |
2 |
|
Others |
527 |
|
Total |
1,967 |
