Association of Mutual Funds in India (AMFI)
- To define and maintain high professional and ethical standards in all areas of operation of mutual fund industry.
- To recommend and promote best business practices and code of conduct to be followed by members and others engaged in the activities of mutual fund and asset management including agencies connected or involved in the field of capital markets and financial services.
- To interact with the Securities and Exchange Board of India (SEBI) and to represent to SEBI on all matters concerning the mutual fund industry.
- To represent to the Government, Reserve Bank of India and other bodies on all matters relating to the Mutual Fund Industry.
- To develop a cadre of well trained Agent distributors and to implement a programme of training and certification for all intermediaries and other engaged in the industry.
- To undertake nation wide investor awareness programme so as to promote proper understanding of 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.
Any entity engaged in the business of Mutual Fund and/or Asset Management Services can be member of the Association.
Any entity other than the above can be Associate Member of the Association.
At present AMFI has all AMCs who are engaged in management of Mutual Funds in India as its Members. There are 43 Members as of today.
There are no Associate Members as yet.
AMFI is a voluntary trade body of all Mutual Funds registered with Securities & Exchange Board of India (SEBI) and it is not an SRO. It functions through a Board which is comprised of elected members. The main functional areas are :
i) To recommend and implement healthy business practices, ethical standards to be followed by the members of the Association and also by those Agencies associated and involved in the field of capital market and financial services.
ii) To promote observance of security laws, regulations and directives of SEBI among its members and others and to function in the best interest of the investing public.
iii) To bring about better coordination in the field of Mutual Funds and Asset Management Industry.
iv) To render assistance and provide common services and utilities to the persons engaged in the field of Mutual Funds and Asset Management.
v) To discharge the function of registration of distributors as entrusted by SEBI.
vi) To act as a liaison body between Government of India, SEBI, RBI and other Regulatory bodies on the one hand and Mutual Funds on the other.
vii) To promote awareness about the Mutual Funds concept by undertaking Investor Awareness Programmes and Ad Campaigns.
The main source of regulatory information is Securities and Exchange Board of India (SEBI) and its website is http://www.sebi.gov.in/