{"id":32044,"date":"2022-10-31T15:43:10","date_gmt":"2022-10-31T15:43:10","guid":{"rendered":"https://www.5paisa.com/finschool/?post_type=finance-dictionary\u0026#038;p=32044"},"modified":"2024-10-09T23:04:13","modified_gmt":"2024-10-09T17:34:13","slug":"amfiassociation-of-mutual-funds-2","status":"publish","type":"finance-dictionary","link":"https://www.5paisa.com/finschool/finance-dictionary/amfiassociation-of-mutual-funds-2/","title":{"rendered":"AMFI(Association of mutual funds)"},"content":{"rendered":"\u003cdiv data-elementor-type=\u0022wp-post\u0022 data-elementor-id=\u002232044\u0022 class=\u0022elementor elementor-32044\u0022\u003e\u003csection class=\u0022elementor-section elementor-top-section elementor-element elementor-element-5ac6844 elementor-section-boxed elementor-section-height-default elementor-section-height-default\u0022 data-id=\u00225ac6844\u0022 data-element_type=\u0022section\u0022\u003e\u003cdiv class=\u0022elementor-container elementor-column-gap-default\u0022\u003e\u003cdiv class=\u0022elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cc7fd97\u0022 data-id=\u0022cc7fd97\u0022 data-element_type=\u0022column\u0022\u003e\u003cdiv class=\u0022elementor-widget-wrap elementor-element-populated\u0022\u003e\u003cdiv class=\u0022elementor-element elementor-element-5e59cd4 elementor-widget elementor-widget-text-editor\u0022 data-id=\u00225e59cd4\u0022 data-element_type=\u0022widget\u0022 data-widget_type=\u0022text-editor.default\u0022\u003e\u003cdiv class=\u0022elementor-widget-container\u0022\u003e\u003cp\u003e\u003cspan style=\u0022color: #000000;\u0022\u003eThe Association of Mutual Funds in India is the authority that sets all guidelines related to mutual funds, AMCs, investors, and any other registered entity or persons linked with buying, selling, or managing mutual funds in India. It also ensures that all the guidelines are strictly abided by and swift coordination is maintained between asset management companies, stock exchanges, and SEBI.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\u0022color: #000000;\u0022\u003eTo tackle unbaked myths and rumors circulating in the market and establish a robust system for mutual funds, AMFI was founded on 22 August 1995. It has, since then, successfully achieved its objectives, leading to significant growth in the mutual fund industry over the past years.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan style=\u0022color: #000000;\u0022\u003e\u003cstrong\u003eObjectives of AMFI\u003c/strong\u003e\u003c/span\u003e\u003c/h2\u003e\u003cul\u003e\u003cli\u003e\u003cp\u003e\u003cspan style=\u0022color: #000000;\u0022\u003eIt aims to ensure that businesses and individuals adhere to the guidelines regulated by it. All the guidelines, rules, and regulations must be abided by in due course of business.\u003c/span\u003e\u003c/p\u003e\u003c/li\u003e\u003cli\u003e\u003cp\u003e\u003cspan style=\u0022color: #000000;\u0022\u003eAMFI works in coordination with SEBI to ensure that the stock markets and the related mutual funds work hand-in-hand. This coordination also involves abiding by the guidelines set by SEBI.\u003c/span\u003e\u003c/p\u003e\u003c/li\u003e\u003cli\u003e\u003cp\u003e\u003cspan style=\u0022color: #000000;\u0022\u003eAMFI works towards spreading awareness about various upcoming schemes. It again uses various media channels to achieve this goal.\u003c/span\u003e\u003c/p\u003e\u003c/li\u003e\u003cli\u003e\u003cp\u003e\u003cspan style=\u0022color: #000000;\u0022\u003eAMFI has created portals and grievance management services for investors and AMCs. This is to solve problems in case any discrepancies arise.\u003c/span\u003e\u003c/p\u003e\u003c/li\u003e\u003c/ul\u003e\u003ch2\u003e\u003cspan style=\u0022color: #000000;\u0022\u003e\u003cstrong\u003eAMFI functions through 4 major departments; namely:\u003c/strong\u003e\u003c/span\u003e\u003c/h2\u003e\u003cul\u003e\u003cli\u003e\u003cp\u003e\u003cspan style=\u0022color: #000000;\u0022\u003eCommittee on Valuation\u003c/span\u003e\u003c/p\u003e\u003c/li\u003e\u003cli\u003e\u003cp\u003e\u003cspan style=\u0022color: #000000;\u0022\u003eCommittee on Financial Literacy\u003c/span\u003e\u003c/p\u003e\u003c/li\u003e\u003cli\u003e\u003cp\u003e\u003cspan style=\u0022color: #000000;\u0022\u003eCommittee on operations and compliance\u003c/span\u003e\u003c/p\u003e\u003c/li\u003e\u003cli\u003e\u003cp\u003e\u003cspan style=\u0022color: #000000;\u0022\u003eCommittee on registration of certified distributor\u003c/span\u003e\u003c/p\u003e\u003c/li\u003e\u003c/ul\u003e\u003ch2\u003e\u003cspan style=\u0022color: #000000;\u0022\u003e\u003cstrong\u003eAMFI Registration Number (ARN)\u003c/strong\u003e\u003c/span\u003e\u003c/h2\u003e\u003cp\u003e\u003cspan style=\u0022color: #000000;\u0022\u003eAny intermediary involved in the distribution of the fund should have registered with the AMFI. Following this, they will be provided with a unique identification number called the ARN (AMFI Registration Number). This will be allotted by the NISM (National Institute of Securities market) at the end of the training.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\u0022color: #000000;\u0022\u003eThose willing to get themselves registered are to go through an assessment or examination to get the number. They will have to renew this after every 6 months to exercise the full rights that come along. One can simply apply for the same online via the official website of AMFI.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003eKey functions of AMFI include:\u003c/h2\u003e\u003col\u003e\u003cli\u003e\u003cp\u003e\u003cstrong\u003eInvestor Education\u003c/strong\u003e: AMFI runs campaigns and initiatives to educate investors about mutual funds, their benefits, and the risks involved.\u003c/p\u003e\u003c/li\u003e\u003cli\u003e\u003cp\u003e\u003cstrong\u003eCode of Conduct\u003c/strong\u003e: It establishes a code of conduct for its members to ensure that they act in the best interests of investors.\u003c/p\u003e\u003c/li\u003e\u003cli\u003e\u003cp\u003e\u003cstrong\u003eStandardization and Best Practices\u003c/strong\u003e: AMFI works on standardizing practices and processes across the mutual fund industry, ensuring transparency, and adopting best practices.\u003c/p\u003e\u003c/li\u003e\u003cli\u003e\u003cp\u003e\u003cstrong\u003eLiaison with Regulators\u003c/strong\u003e: AMFI acts as an intermediary between the mutual fund industry and regulators like the Securities and Exchange Board of India (SEBI). It also plays a role in providing feedback on regulatory changes.\u003c/p\u003e\u003c/li\u003e\u003cli\u003e\u003cp\u003e\u003cstrong\u003eAMFI Registration Number (ARN)\u003c/strong\u003e: AMFI provides registration to intermediaries (distributors and advisors) in the mutual fund industry by issuing them ARN numbers, which are mandatory for distribution and advisory services.\u003c/p\u003e\u003c/li\u003e\u003c/ol\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/section\u003e\u003c/div\u003e","protected":false},"excerpt":{"rendered":"\u003cp\u003eThe Association of Mutual Funds in India is the authority that sets all guidelines related to mutual funds, AMCs, investors, and any other registered entity or persons linked with buying, selling, or managing mutual funds in India. It also ensures that all the guidelines are strictly abided by and swift coordination is maintained between asset … \u003ca title=\u0022AMFI(Association of mutual funds)\u0022 class=\u0022read-more\u0022 href=\u0022https://www.5paisa.com/gujarati/finschool/finance-dictionary/amfiassociation-of-mutual-funds-2/\u0022 aria-label=\u0022Read more about AMFI(Association of mutual funds)\u0022\u003eRead more\u003c/a\u003e\u003c/p\u003e","protected":false},"author":1,"featured_media":32060,"parent":0,"menu_order":126,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-32044","finance-dictionary","type-finance-dictionary","status-publish","format-standard","has-post-thumbnail","hentry","finance-dictionary-terms-a"],"acf":[],"_links":{"self":[{"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/finance-dictionary/32044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/finance-dictionary"}],"about":[{"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/types/finance-dictionary"}],"author":[{"embeddable":true,"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/users/1"}],"replies":[{"embeddable":true,"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/comments?post=32044"}],"version-history":[{"count":4,"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/finance-dictionary/32044/revisions"}],"predecessor-version":[{"id":62178,"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/finance-dictionary/32044/revisions/62178"}],"wp:featuredmedia":[{"embeddable":true,"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/media/32060"}],"wp:attachment":[{"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/media?parent=32044"}],"curies":[{"name":"wp","href":"https://api.w.org/{rel}","templated":true}]}}