A unit holder is an investor who owns units in a mutual fund scheme, representing a proportional stake in the fund's underlying portfolio of assets. Unit holders are entitled to returns (through NAV appreciation or IDCW payouts), have the right to redeem units at prevailing NAV, and receive periodic account statements from the fund house or registrar. In India, unit holders are protected by SEBI's mutual fund regulations, which mandate transparency in portfolio disclosure, capping of expense ratios, and fair NAV computation. The fund house acts as a trustee on behalf of unit holders, with the AMC managing investments in their interests.
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