Investor Charter

Last reviewed: 15 October 2026

SERNET Investor Service Charter · Version 1.1 · Updated 12 October 2026. This is SERNET’s voluntary investor-facing distribution and servicing commitment, not a statutory stock-broker or portfolio-manager charter. Read Disclosures for verified registrations and provider responsibilities. The relevant AMC or portfolio manager’s statutory charter and product documents apply to its own services.

1. Vision & Mission

Vision: To help investors access suitable mutual fund and PMS products through transparent, fair and well-documented distribution services.

Mission: To serve investors with integrity and professionalism, in line with the codes of conduct and product-provider requirements that apply to our distribution services.

2. Rights of Investors

As an investor, you have the right to:

• Receive clear, fair and material information made available by the relevant provider, including product risks, costs, restrictions and exit terms, and ask for clarification before investing.
• Ask about provider-paid remuneration and potential conflicts. Available verified schedules and pending updates are published under Disclosures.
• Choose between a Regular Plan (distributed through us, with provider-paid commission disclosed under Disclosures) and a Direct Plan (invested straight with the AMC, with no distributor commission). We distribute Regular Plans; you are free to invest directly with any AMC.
• Have your needs and risk profile considered and documented for SERNET’s distribution engagement, and receive a written suitability warning if a product you choose exceeds your assessed risk level.
• Receive transaction confirmations, account statements and your Consolidated Account Statement (CAS) directly from the AMC, registrar, depository or portfolio manager.
• Have your complaints handled fairly through the applicable Grievance Redressal process.
• Have your personal data protected, and access or correct it under applicable data protection law.
• Be treated fairly, courteously and without pressure to invest.

3. Obligations of Investors

• Provide accurate and complete KYC, bank, contact, nominee and tax-residency (FATCA/CRS) details.
• Read the Scheme Information Document (SID), Statement of Additional Information (SAI), Key Information Memorandum (KIM), PMS Disclosure Document and agreement before investing.
• Complete your risk profile honestly and tell us about life events that change your goals, income or risk appetite.
• Keep your mobile number, email, address, bank account and nominee up to date with providers.
• Review your statements and CAS regularly, and report any discrepancy or unauthorised transaction promptly.
• Make payments only through authorised provider channels, and keep passwords, OTPs and PINs confidential.
• Understand that market-linked investments carry risk, including possible loss of capital, and that returns are not guaranteed.

4. Client Onboarding & KYC

Onboarding is done through authorised digital or physical channels. Eligibility depends on the product and provider, including resident, NRI, entity and minor-account requirements. Applicable KYC status and validation requirements must be met before a provider accepts a transaction; SERNET cannot waive them.

• KYC: Follow the provider’s applicable KRA and/or CKYC process; a CKYC record does not establish that every product’s KYC requirements are satisfied. This includes identity and address verification, PAN–Aadhaar linking where legally applicable with permitted exemptions, and in-person or video verification where required.
• Declarations: FATCA/CRS self-certification, nomination or permitted opt-out, as applicable to the account type and current rules, and verification of bank account ownership.
• Non-individuals and NRIs: Additional documents such as constitution documents, board resolutions, authorised-signatory lists, beneficial-ownership details and residency documents.
• Anti-money-laundering: Under the Prevention of Money Laundering Act, 2002, providers may ask for more information, verify the source of funds or decline an application. We do not accept cash or third-party payments beyond what the rules allow.
• Investor profile: We record your financial details, goals, investment horizon, experience and risk tolerance for the suitability assessment described below.

The final decision to accept an application, and the applicable KYC rules, rest with the product provider and the law.

Ask us for help with KYC-status issues, permitted nomination updates, bank verification, joint-holder or guardian changes and accessible service channels. Do not sign blank forms; retain copies and acknowledgements.

5. Risk Profiling & Product Suitability

• Risk profiling: For a new distribution relationship, SERNET seeks a documented needs and risk-profile assessment before facilitating product selection. This is a SERNET service practice, not a claim that AMFI mandates a uniform questionnaire for every transaction. It covers investment horizon, goals, income stability, existing investments, experience and risk tolerance.
• Product selection: We shortlist products from the providers we are empanelled with, using factors such as fit with your risk profile and horizon, scheme category and riskometer, performance consistency across market cycles (not past returns alone), portfolio quality, costs and the fund manager's or provider's track record.
• Suitability: Products are matched to your assessed profile. If you choose a product above your risk level, we will explain the mismatch in writing and record your acknowledgement. Acknowledgement is not a waiver of investor rights, does not override eligibility rules and does not make an unsuitable product suitable. We may decline facilitation where required by applicable duties.
• Non-advisory nature: Mutual-fund guidance is incidental to distribution within applicable limits. For PMS, SERNET explains provider information and facilitates access; the portfolio manager determines strategy implementation and underlying investments under its client agreement. SERNET does not provide discretionary management or an independent advisory mandate. Product/provider selection remains your decision.
• Suitability safeguard: Product selection must not be driven solely by remuneration or sales targets; unnecessary switches or churning to generate commission are not acceptable. Remuneration disclosures are available under Disclosures.

6. Portfolio Review & Rebalancing

• Periodic review: We offer a mutual-fund distribution-support review with you at least once a year, as a SERNET service commitment rather than a regulatory-mandated or guaranteed monitoring service, and also after major life events (such as marriage, the birth of a child, a job change, retirement or an inheritance) or significant market changes.
• What we review: Progress towards your goals, asset allocation compared with your risk profile, scheme performance against its benchmark and peers, changes to a scheme's category, fund manager or riskometer, and whether nominee and KYC details are up to date.
• Rebalancing: If your allocation has drifted materially from your agreed profile, or a scheme no longer suits your needs, we will explain the options, including any exit loads and tax impact. A switch, redemption or fresh investment is only facilitated on your specific, verified instruction, subject to provider acceptance. Switching may involve redemption and fresh purchase with tax, exit-load and timing implications; avoid unnecessary turnover. SERNET does not recommend or execute changes to holdings within a PMS portfolio. Portfolio composition, allocation, drift monitoring and rebalancing are the registered portfolio manager’s responsibility under its mandate; SERNET offers distribution-related coordination only.
• Your profile: Your risk profile is refreshed during the review, or sooner if your circumstances change.
• Records: We document the review offered, whether accepted or deferred, the discussion, warnings and actions you instructed. A review does not guarantee returns, loss prevention or continuous monitoring.

7. Customer Life Cycle Management

This is SERNET’s internal service framework. For mutual funds, its records and controls support applicable AMFI conduct requirements and AMC-led distributor due diligence where applicable. DDQ review is a separate appraisal of distributor controls, not an investor lifecycle certification. For PMS, distribution follows applicable APMI requirements and the manager’s servicing arrangements, not AMFI’s MF due-diligence process. No completed audit or DDQ certification is claimed. The stages are:

1. Acquisition & onboarding: Disclosure of our distributor capacity and commissions, KYC, FATCA and nomination, and a risk profile before the first transaction.
2. Transactions: Suitability checks, submission through authorised channels subject to applicable cut-off times, and follow-up on provider acknowledgements and statements. SERNET does not guarantee provider processing or delivery.
3. Servicing: Help with SIPs, STPs and SWPs, switches, redemptions, changes to bank, contact or nominee details, and statement requests.
4. Periodic review: See Section 6 for reviews; verify servicing details through the provider.
5. Monitoring & communication: Information on material scheme changes communicated by providers, and alerts about fraud or impersonation risks.
6. Inactive accounts: Reasonable, privacy-respecting follow-up where contact details permit, and assistance locating unclaimed payments through official provider channels. Inactivity does not authorise transactions or compulsory reinvestment.
7. Transmission & exit: Guidance for nominees or legal heirs on transmission, and an orderly close when an investor leaves or moves to Direct Plans or another distributor, without obstruction.

Records of onboarding, risk profiles, suitability acknowledgements, reviews and complaints are kept for the period required by applicable regulations and our internal record-retention policy.

8. Do's & Don'ts for Investors

Do's

• Check SERNET's ARN/APRN and EUIN on the AMFI and APMI websites.
• Read the scheme or PMS documents, and ask about risk, exit load, expense ratio and commission before investing.
• Invest according to your goals, risk profile and time horizon.
• Pay only through authorised AMC or portfolio-manager bank accounts, mandates or platforms.
• Check your CAS and provider statements regularly, and keep your contact, bank and nominee details current.
• Review your portfolio at least once a year.

Don'ts

• Don't share OTPs, passwords, UPI PINs or login credentials with anyone, including SERNET staff.
• Don't pay into any employee's or individual's personal account, or hand over cash.
• Don't trust promises of guaranteed or unrealistic returns. SERNET does not offer assured-return schemes.
• Don't invest above your risk profile without understanding the consequences, and don't ignore a written suitability warning.
• Don't decide on past returns alone. Past performance does not indicate future results.
• Don't let anyone transact on your behalf without proper written authority.

Report suspicious calls, messages or payment requests through our Support Portal; see Grievance Redressal for complaint channels and escalation.

9. Official Resources

• AMFI: distributor (ARN) verification and investor education.
• APMI: PMS distributor verification and PMS information.
• SEBI Investor Website: investor charters and awareness material.
• AMFI MFD Code of Conduct.
• AMFI distributor due-diligence FAQs: applicability must be assessed for SERNET.
• The relevant AMC's or portfolio manager's website for its investor charter, scheme documents and service standards.

Related documents: Registrations, remuneration, product risks & provider responsibilities · Complaints & dispute resolution · Privacy Policy.

Version 1.1, updated 12 October 2026. To be reviewed annually or when regulations change.