Mutual funds are created as baskets of investments. One of the most prominent advantages of investing in mutual funds is diversification. It is the process of spreading a given investment over multiple assets classes. with the emergence of new schemes and mutual fund institutions in the market made the investors confused in selection of mutual funds and have lack of awareness regarding various new mutual fund regulating agencies. It is significant to study the investment information seeking behavior of mutual fund investors, to find out the level of awareness and satisfaction of investors towards Regulating and Governing agencies of Mutual funds. The study suggested that the regulating the mutual fund industry should ensure transparency and regularly review the industry for protecting the small investors and increase awareness levels of the investors.