SEBI asks MFs to disclose investor complaints
Friday, 14 May 2010
NEW DELHI, May 13 (PTI): Market regulator SEBI today asked mutual fund houses to disclose the details of investor complaints on websites, as well as in annual reports, to enable clients to make more informed decisions.
"Mutual Funds shall henceforth disclose on their websites, on the AMFI website as well as in their Annual reports, details of investor complaints received by them from all sources," the Securities and Exchanges Board of India said in a circular.
Following the circular, all Asset Management Companies (AMCs) will have to put up the data for the bygone fiscal by June 30, 2010, and for each new fiscal within two month of the close of the year.
SEBI expects the disclosure norms would improve transparency in functioning of the AMCs and would enable investors to take informed decisions.
"Mutual Funds shall henceforth disclose on their websites, on the AMFI website as well as in their Annual reports, details of investor complaints received by them from all sources," the Securities and Exchanges Board of India said in a circular.
Following the circular, all Asset Management Companies (AMCs) will have to put up the data for the bygone fiscal by June 30, 2010, and for each new fiscal within two month of the close of the year.
SEBI expects the disclosure norms would improve transparency in functioning of the AMCs and would enable investors to take informed decisions.