AMFI & Its Role in Mutual Fund Industry

AMFI is the Short form Association Of Mutual Funds in India.Everyone is having a Question about AMFI & its Role Of Mutual Fund Industry. This piece of Information may helpful those who want to know AMFI with clear understanding.The  Association  of  Mutual  Funds  in  India (AMFI)  is  dedicated  to  developing  the  Indian  Mutual  Fund  Industry  on  professional,  healthy  and  ethical  lines  and  to  enhance  and  maintain  standards  in  all  areas  with  a  view  to  protecting  and  promoting  the  interests  of  mutual  funds  and  their  unit  holders. AMFI is established on the lines of the Investment Company Institute (ICI), the national association of US investment companies.
AMFI was incorporated on August 22, 1995 as a non-profit organization with an objective to:

• To Promote best business practices and code of conduct in all areas of operation of Mutual Fund Industry.
• AMFI should Maintain high professional and ethical standards in the Mutual Fund Industry.
• AMFI Should Interact with the Securities and Exchange Board of India (SEBI) and to represent to SEBI on all matters concerning the Mutual Fund Industry.
• AMFI to Make a representation to the Government, RBI and other regulatory bodies in matters relating to the Mutual Fund Industry.
• It has to Develop a well-trained agent distributors network for the Mutual Fund Industry.
• To Promote Nationwide investor awareness program to make the investors understand the concept and working of Mutual Funds.
• To Disseminate information on Mutual Fund Industry and to undertake studies and research directly and/or in association with other bodies.

AMFI has also set up the Committee on Valuation of Mutual Funds, Committee on Best Practices, Committee on RBI Related Matters, and Committee on Registration of AMFI Certified Distributors for reviewing and evolving standards in the Mutual Fund Industry.

Though technically not an SRO(Self Regulatory Organisation), AMFI, right from its inception, has performed self regulatory functions like giving clarification on payment of brokerage to intermediaries, training the Mutual Fund distributors, and educating the investors