I invested online with Franklin Templeton mutual fund some days back - the funds got deducted from my bank account but the transaction showed up as failed with FT. When I called up FT, they seemed to think this was natural consequence of internet transactions; after numerous calls and follow ups, units finally got credited to my mutual fund account.
I continue to struggle with other things with FT - personally made a visit to CAMS and submitted a form for change of nominee and default bank account - and there seems to be half-hearted work at FT(reminiscent of government offices). They updated my nominee and ignored my bank account update instructions. Query sent online regarding my bank account update has so far not received any response.
I am waiting for the markets to go up somewhat(substantially down in last few days, as of right now my investment value has gone into the red) so that I can sell off FT units and shift to Birla Sun Life MF / HDFC MF / Reliance MF or other reputed fund houses, since I don’t expect FT to have any inclination to address issues raised by customers. Not willing to spend more time visiting their offices or calling them up.
My recommendation to all is that unless you are willing to put up with a lot of inconveniences and have lots of time to follow up via phone and personal visits, do not invest in FT funds - I am regretting it.