I normally never write against somebody unless they are really terrible. Today I would like to prove how bad is Sundaram BNP Paribas Mutual Fund operating in India. Sundaram BNP Paribas has the worst IT Systems and Customer Care. In this age of Web services, where even Karnataka Government is delivering Online Services towards Citizens, lethargic IT Managers at Sundaram BNP Parbias Mutual Fund operate with the Cover Your Ass attitude without any accountability or responsibility even when a customer is seeking for help badly.
If you call their help line 1-800-425-7237, it goes to a Voice Mail. Makes me wonder is their only one person answering the calls of Lakhs of investors ? Ok, I give up and take the mailback of account statement route. Requested it on Sunday, no response. I had to do it again today and comes after a pathetic delay of 2 hours. [Compare this to CAMS Online which at the most takes 15 Minutes, or is almost instantaneous]
Look at he way the statement is generated for a Folio opened in 2008. They can’t even arrange the Investment of Investor Date-wise, instead it is some random order. You have a look at the screenshot and you decide.
In the above Chart it first lists investments made in 2011 then 2008 followed by 2009 and 2010 in some Random Order. Now if this is the fate of the statement requested, can we trust the IT Systems within Sundaram BNP Paribas Mutual Fund in India ? What is the Guarantee that they have processed and given credit of all the Units we have purchased [You know in this busy life who has the time to track each and every transaction]
The Bigger Question is the IT Managers lead the development of internal analytical systems which will be used by Fund Managers to make their investment decisions. So imagine the fate of these fund managers and RoI of our hard earned money.
Finally, the IT Managers with whom I have interacted in the past are Arrogant to the Core. No sense of Apologies for a customer who is reporting their faults. I am filing a complaint with AMFI as well as SEBI in this regard. We are henceforth AVOIDING all investments in Sundaram BNP Paribas Mutual Fund.