What are the rights that are available to a MF holder?

There are lot of rights that are available to a MF holder. I will cover two-three points. One is that whenever there is a failure in the dispatch of redemption or repurchase receipts that is within the 10 working days from the date of request or if there is a failure in dispatch of dividends within the stipulated 30 day period then the AMC is supposed to pay 15 percent per annum interest to the unit holders.

Secondly whenever there is an unclaimed amount then the AMC can actually put that amount into the call money market instruments. While the investor can claim that amount within three years and they will get that unclaimed amount at prevailing NAV.

Another thing is that NAV has to be published on a daily basis in any of the two biggest dailies with the biggest circulation in India and the NAV has to be updated on AMFI Website at 9 PM on that same day in the case of domestic funds and in the case of funded funds it has to be updated at 10 AM the next day.