What is the Association of Mutual Funds in India (AMFI)?
Association of Mutual Funds in India (AMFI)
What is the Association of Mutual funds in India(AMFI)? What is the purpose of creating AMFI? And what are its members? And what is the contribution of association of mutual funds in India in the development of mutual funds in India?
In today's post, we will try to understand all these basic questions related to association of mutual funds in India in detail,
The Association of mutual funds in India is known as AMFI (AMFI) in the short term, AMFI is a Non-Profit Organization, note that it is not a government institution,
AMFI was established on August 22, 1995, and is a company registered under section 25 of the Indian Companies Act 1956 .
The Association of mutual funds in India (AMFI) has been created as a trading body of all Mutual Funds and its Asset Management Companies (AMCs) registered under SEBI in India,
It is worth noting that - Association of mutual funds in India (AMFI) as a company is designed to develop the mutual fund industry in India in an orderly, professional and ethical manner, which promotes and promotes the mutual fund Takes special care to maintain the credibility of the mutual fund .
Objectives of AMFI (Objectives)
- To define and maintain high professional and ethical standards in all areas of operations of the mutual fund industry,
- AMFI's Members and Capital Markets, Financial Services, Mutual Funds and Asset Management to take care of the activities of the company and create Code of Conduct from time to time to promote the mutual fund industry and maintain its credibility,
- Negotiating with the Securities and Exchange Board of India (SEBI) and representing to SEBI as a representation on behalf of the mutual fund industry,
- Representing the Government, SEBI and Reserve Bank of India for all matters related to the mutual fund industry,
- Responsibility to work on the development of mutual funds all over the country, and awareness campaigns of mutual funds,
- Control over vendors and distributors of mutual funds, cancellation of ARN number of agents of mutual funds on any valid complaint,
- Protecting the interests of mutual fund investors, ie mutual fund unit holders .
Members of Association of Mutual Funds in India (AMFI)
AMFI has a total of 43 asset management companies currently -
Association of Mutual Funds in India Contribution To Mutual Fund Development
Association of Mutual Funds in India has a very important contribution in the development of mutual funds in India, its biggest example is that - today every person must have heard about the AD campaign being run by AMFI for promoting the Mutual Fund,
Mutual fund is right boss, Mutual fund Sahi Hai boss. !!