By Kushan Shah
At a time, the number of folios in the mutual fund industry has been rising at a fast clip, the good news is that the number of complaints have also declined sharply over 40% year-on-year.
According to data from the Association of Mutual Funds in India (AMFI), the number of complaints has gone down from 1,379 in January 2025 to 784 in January 2026, marking a 43.15% reduction.
Venkat Chalasani, Chief Executive, AMFI said, “The mutual fund industry has steadily strengthened investor servicing through deeper digitisation, tighter compliance, and more robust grievance redressal mechanisms.”
He added that investments in technology have reduced operational gaps, improved turnaround times, and enhanced transparency. “The moderation in complaints, despite growing investor participation, underscores the industry’s continued focus on service quality and investor protection,” he said.
Digitization Dividend
This decline in investor complaints has coincided with an increase in number of folios of the mutual fund industry by 43.5 million – from 227.1 million to 270.6 million during this one-year period.
As many as 26 fund houses – over 50% of the industry – have seen a reduction in complaints filed against them while 12 fund houses have recorded the same number of complaints as last year. Only 6 out of the 50 fund houses see a higher number of complaints against them. The remaining fund houses have begun their mutual fund operations only after January 2025 and hence not eligible for comparison.
Fund House Performance
HDFC Mutual Fund has seen the highest reduction in complaints from 179 in January 2025 to 99 in January 2026. Kotak Mutual Fund, SBI Mutual Fund, Tata Mutual Fund and Motilal Oswal Mutual Fund have also recorded substantial reduction in the number of complaints filed against them.
The fund houses with an increase in complaints against them include Baroda BNP Paribas Mutual Fund (increase of 13 complaints), WhiteOak Capital Mutual Fund (increase of 6 complaints), Bajaj Finserv Mutual Fund (increase of 5 complaints) and ITI Mutual Fund, DSP Mutual Fund & 360 One Mutual Fund (increase of 1 complaint each).
As the efforts to increase financialization of savings continue, the decrease in investor complaints can be a boost to the mutual fund industry and pave the path of increasing trust among investors.