What are the rights that are available to a Mutual Fund holder?
As per SEBI Regulations on Mutual Funds, an investor is entitled to1. Receive Unit certificates or statements of accounts confirming your title within 6 weeks from the date your request for a unit certificate is received by the Mutual Fund.2. Receive information about the investment policies, investment objectives, financial position and general affairs of the scheme;3. Receive dividend within 42 days of their declaration and receive the redemption or repurchase proceeds within 10 days from the date of redemption or repurchase4. The trustees shall be bound to make such disclosures to the unit holders as are essential in order to keep them informed about any information which may have an adverse bearing on their investments. 5. 75% of the unit holders with the prior approval of SEBI can terminate the AMC of the fund.6. 75% of the unit holders can pass a resolution to wind-up the scheme. 7. An investor can send complaints to SEBI, who will take up the matter with the concerned Mutual Funds and follow up with them till they are resolved.