Mutual fund investors: Rights and Obligations

· Right of “Proportionate Beneficial Ownership”

· Right of timely services

· Unit holders entitled to receive dividend warrants within 30 days of date of declaration

Unit holders have right to payment of interest at 15% p.a. in the event of failure on the part of Mutual fund to dispatch redemption proceeds within ten working days.

· The Unit holders can claim unclaimed redemption proceeds or dividends due within a period of 3 years of the due date at the prevailing NAV. After 3 years he/she will be paid at NAV applicable at the end of the third year.

· For initial offers unit holders have right to expect allotment of units within 30 days from the closure of mutual offer period.

· Right to information

· Right to approve changes in fundamental attributes of the scheme.

· Right to wind up a scheme if 75% of investors pass a resolution to that effect.

· Right to terminate AMC if 75% of the unit holders decides so, of course with the prior approval of the SEBI

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