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Right of a Mutual Fund Unitholder

 
A Unit holder in a Mutual Fund scheme governed by the SEBI (Mutual Funds) Regulations, 1996 is entitled to as under:

1. An applicant whose application has been accepted is entitled to receive a statement of account specifying the number of units allotted to the applicant as soon as possible but not later than thirty days from the date of closure of the initial subscription list and/or from the date of receipt of the request from the unitholders in any open ended scheme: Provided that if an applicant so desires, the asset management company shall issue the unit certificates to the applicant within thirty days of the receipt of request for the certificate.

2. An applicant in a close ended scheme whose application has been accepted shall have the option either to receive the statement of accounts or to hold units in dematerialised form and the asset management company shall issue to such applicant, a statement of accounts specifying the number of units allotted to the applicant or issue units in dematerialized form as soon as possible but not later than thirty days from the date of closure of the initial subscription list.

3. The asset management company shall issue units in dematerialized form to a unitholder in a close ended scheme listed on a recognised stock exchange within two working days of the receipt of request from the unitholder.

4. Every mutual fund and asset management company shall,
  • Dispatch to the unitholders the dividend warrants within 30 days of the declaration of the dividend
  • Despatch the redemption or repurchase proceeds within 10 working days from the date of redemption or repurchase
 
 
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