Bangalore: Over the past 20 months the number of complaints lodged by the Mutual fund investors has shown a decline, reports Shailesh Menon,ET Bureau.

A stern warning from the Security Exchange Board of India to the funds holding company over the last year has done the miracle. The regulator had then slapped off leading fund houses for not taking immediate action against the investor complaints.

The top 10 fund houses have witnessed a significant drop of 8 percent and more in the number of complaints lodged by investors, over the past one year. As per AMFI data, top fund houses like Reliance MF, HDFC Mutual DSP Blackrock, Franklin Templeton and UTI Mutual have observed complaints falling by 20-70 percent over the past 20 months.

"The complaint redressed mechanism has become very efficient among most asset management companies. Almost 99 per cent of the complaints get resolved at the prescribed turnaround time," said V Ramesh, deputy CEO, Association of Mutual Funds in India (AMFI), quotes ET.