Mutual and other Funds

56.'' SEBI has given many rights to the Mutual Fund investors .'' Explain.

Ans: As per SEBI Regulations on Mutual Funds , an investor is entitled to:

i. Receive Unit certificates or statements of accounts confirming the investors's title within six weeks from the date the Mutual Fund receives his request for a unit certificate.

ii. Receive information about the investment policies , investment objectives ,financial position and general affairs of the scheme.

iii. Receive dividend within 42days of its being declared and receive the redemption or repurchase proceeds within 10days from the date of redemption or repurchase.

iv. The trustees shall be bound to make such disclosures to the unit holders as are essential in order to keep the latter informed about any information which may have an adverse bearing on their investments.

v. A total of 75% of the unit holders ,with the prior approval of SEBI, can terminate the AMC of the Fund.

vi. Similarly , about 75% of the unit holders can pass a resolution to wind-up the scheme

vii. An investor can send complaints to SEBI , who will take up the matter with the Mutual Fund concerned and follow them up with till they are resolved.