Rights of investors, Financial Management

Rights of Investors

CERTIFICATES

An investor is entitled to receive shares/unit certificates allotted to him within a period of 6 weeks from the date of closure of the subscription.

TRANSFER

An investor is entitled to get the unit/share certificates transferred within a period of 30 days from the date of lodgment for transfer.

REFUND

If the total collection of the funds by a mutual fund is less than the minimum amount of subscription planned to be raised, as mentioned in the prospectus, the applicants are entitled to receive the entire application money as refund, within a period of six weeks from the date of closure of subscription. Should the refund be delayed beyond this period, the applicants are entitled to receive, along with the application money, interest at the rate of 15% p.a. for the period of delay.

DISCLOSURES

An investor under a mutual fund scheme is entitled to receive information about the ‘Net Asset Value' at intervals not exceeding one week. This information should be published in at least two daily newspapers.

Every mutual fund is required to publish the audited annual report and unaudited half-yearly report, through prominent newspapers in respect of each of its schemes, within six months and two months respectively of the date of closure of accounts.

A mutual fund shall before the expiry of one month from the close of each half year send to all unit holders a complete statement of its scheme portfolio. However, the statement of scheme portfolio may not be sent to the unit holders if the statement is published, by way of an advertisement in one English daily circulating in the whole of India and in a newspaper published in the language of the region where the head office of mutual fund is situated.

 

 

Posted Date: 9/11/2012 1:24:58 AM | Location : United States







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