Association of Mutual Funds in India (AMFI) was incorporated as non- profit organization on 22nd August, 1995 and is the apex body of all the registered assets management companies in India. Till date, all the AMCs are that have launched mutual fund schemes are members of AMFI.
It functions under the supervision and guidelines of its Board of Directors. Association of Mutual Funds India has brought a professional and healthy market with ethical lines enhancing and maintaining standards in Indian mutual funds industry. It follows the principle of both protecting and promoting the interests of mutual funds as well as their unit holders.
Objectives of Association of Mutual Funds in India
The Association of Mutual Funds of India works with 44 registered AMCs of the country. The objectives of AMFI are as follows:
- This mutual fund association of India maintains high professional and ethical standards in all areas of operation of the industry.
- It also recommends and promotes the top class business practices and code of conduct which is followed by members and related people engaged in the activities of mutual fund and asset management. The agencies who are by any means connected or involved in the field of capital markets and financial services also involved in this code of conduct of the association.
- AMFI interacts with SEBI and works according to SEBIs guidelines in the mutual fund industry.
- Association of Mutual Fund of India do represent the Government of India, the Reserve Bank of India and other related bodies on matters relating to the Mutual Fund Industry.
- It develops a team of well qualified and trained Agent distributors. It implements a programme of training and certification for all intermediaries and other engaged in the mutual fund industry.
- AMFI undertakes all India awareness programme for investors in order to promote proper understanding of the concept and working of mutual funds.
- At last but not the least association of mutual fund of India also disseminate information on Mutual Fund Industry and undertakes studies and research either directly or in association with other bodies.