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Mutual Fund investors’ grievances decline to 485 in first half of FY24
Mutual funds industry body Amfi on Wednesday said that the number of complaints received from investors and distributors was 485 for the half-year ended September 30, 2023, a decline of 21 per cent from the year-ago period.
The consistently low complaint numbers highlight the mutual fund industry's continuous efforts to elevate service quality and transparency.
In the first half of the fiscal year 2023-24, a total of 485 complaints were received, which was way lower than 619 complaints received in the same period of preceding fiscal, Association of Mutual Funds in India (Amfi) said in a statement.
For the same period, the net assets under management increased from Rs 41.62 lakh crore in April 2023 to Rs 46.58 lakh crore at the end of September 2023 driven by a strong equity market, steady interest rates, and robust economic growth.
"While the industry is growing at a fast clip, the data suggests that complaints against the MF industry are low," the industry body noted.
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