AMFI - Association of Mutual Funds in India
The self-regulatory organization safeguarding mutual fund integrity and investor interests in India.
What is AMFI?
The Association of Mutual Funds in India (AMFI) is a non-profit, self-regulatory organization representing all SEBI-registered Asset Management Companies in India. Established in 1995, AMFI is dedicated to standardizing operational guidelines, promoting ethical industry practices, and protecting investor interests in the mutual fund industry.
AMFI's Role
Self-Regulation
While SEBI retains statutory authority to enforce laws and penalize violations, AMFI acts as the foundational liaison and self-regulatory body, setting industry standards beyond regulatory minimums.
Standardization
Develops standardized practices for operations, disclosures, and investor communications across the industry.
Investor Education
Promotes financial literacy and awareness about mutual fund investments through various educational initiatives.
Distributor Regulation
Issues AMFI Registration Number (ARN) to mutual fund distributors, ensuring intermediaries possess requisite professional knowledge.
AMFI Registration Number (ARN)
Distributor Certification
- • Mandatory for all mutual fund distributors
- • Requires passing NISM-Series-V-A exam
- • Valid for 3 years, renewable through continuing education
- • Ensures distributors understand products and regulations
- • Protects investors from unqualified advice
AMFI's Ethical Guidelines
- •Transparent disclosure of fees, risks, and fund objectives
- •Fair treatment of all investors
- •Prevention of mis-selling and misleading advertisements
- •Conflict of interest disclosure
- •Grievance redressal mechanisms