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What is Association of mutual funds in India (AMFI)?

What is Association of mutual funds in India (AMFI)? What is the purpose of creating AMFI? And who are its members? And what is the contribution of association of mutual funds in India in the development of mutual funds in India?

In today’s post, we will try to understand in detail all these basic questions related to association of mutual funds in India.

Let us first understand thatAS

WHAT IS THE ASSOCIATION OF MUTUAL FUNDS IN INDIA?

Association of mutual funds in India is known as AMFI in short, AMFI is a Non-Profit Organization, note that it is not a government organization.

AMFI was established on August 22, 1995, and is a company registered under section 25 of the Indian Companies Act, 1956.

The Association of mutual funds in India (AMFI) has been incorporated as a company as the trade body of all mutual funds and their Asset Management Companies (AMCs) registered under SEBI in India.

It is worth noting that – Association of mutual funds in India (AMFI) as a company has been formed for the development of mutual fund industry in India in an orderly, professional, and ethical manner, which is responsible for the promotion and logo of mutual funds. K Veach takes special care to maintain the credibility of the mutual fund.

Let us now know the main objectives of AMFI (Amfi)

OBJECTIVES OF AMFI

You can also read the objectives of Association of mutual funds in India in the ABOUT AMFI section on its official website.

The main objectives of AMFI are as follows

  1. To define and maintain high professional and ethical standards in all areas of mutual fund industry operations,

2. To take care of AMFI’s members and capital market, financial services, mutual fund and asset management company’s work activities and to make CODE OF CONDUCT from time to time for the promotion of mutual fund industry and to maintain its credibility.

3. Interact with the Securities and Exchange Board of India (SEBI), assist and represent the mutual fund industry before SEBI.

4. Representing the Government, SEBI and the Reserve Bank of India on all matters relating to the Mutual Fund industry.

5. Responsibility to work on the development of mutual funds, and awareness campaigns of mutual funds in the entire country.

6. To control the sellers and distributors of mutual funds, to cancel the ARN number of mutual fund agents on any valid complaint.

7. Protecting the interests of mutual fund investors i.e. mutual fund unit holders.

Association of mutual funds in India
Association of mutual funds in India

MEMBERS OF ASSOCIATION OF MUTUAL FUNDS IN INDIA (AMFI)

AMFI currently has a total of 43 asset management companies as its members

  1. Aditya Birla Sun Life Asset Management Company Limited.
  2. Axis Asset Management Company Ltd.
  3. Baroda Pioneer Asset Management Company Limited
  4. BNP Paribas Asset Management India Private Limited
  5. BOI AXA Investment Managers Private Limited
  6. Canara Robeco Asset Management Company Limited
  7. DHFL Pramerica Asset Managers Private Limited
  8. DSP Investment Managers Private Limited
  9. Edelweiss Asset Management Limited
  10. Essel Finance AMC Limited
  11. Franklin Templeton Asset Management (India) Private Limited
  12. HDFC Asset Management Company Limited
  13. HSBC Asset Management (India) Private Ltd
  14. ICICI Prudential Asset Mgmt. Company Limited
  15. IDBI Asset Management Ltd
  16. IDFC Asset Management Company Limited
  17. IIFCL Asset Management Co. Ltd
  18. IIFL Asset Management Ltd
  19. IL&FS Infra Asset Management Limited
  20. Indiabulls Asset Management Company Ltd
  21. Invesco Asset Management Company Private Limited
  22. ITI Asset Management Limited
  23. M. Financial Asset Management Ltd
  24. Kotak Mahindra Asset Management Company Limited
  25. L&T Investment Management Limited
  26. LIC Mutual Fund Asset Management Company Limited
  27. Mahindra Asset Management Company Pvt. Ltd
  28. Mirae Asset Global Investments (India) Pvt. Ltd
  29. Motilal Oswal Asset Management Company Limited
  30. PPFAS Asset Management Pvt. Ltd
  31. Principal Asset Management Pvt. Ltd.
  32. Quant Money Managers Limited
  33. Quantum Asset Management Company Private Limited
  34. Reliance Nippon Life Asset Management Limited
  35. Sahara Asset Management Company Private Limited
  36. SBI Funds Management Private Ltd
  37. Shriram Asset Management Co. Ltd
  38. SREI Mutual Fund Asset Management Pvt. Ltd
  39. Sundaram Asset Management Company Limited
  40. Tata Asset Management Limited
  41. Taurus Asset Management Company Limited
  42. Union Asset Management Company Private Limited
  43. UTI Asset Management Company Ltd

Contribution of ASSOCIATION OF MUTUAL FUNDS IN INDIA in the development of mutual funds

The association of mutual funds in India has a very important contribution in the development of mutual funds in India, the biggest example of this is that – today every person must have heard about the AD campaign being run by AMFI regarding the promotion of mutual funds.

Mutual fund sahi hai boss, Mutual fund sahi hai boss.

Apart from this, today the common man is also able to gradually increase his investment in mutual funds by believing in mutual funds due to amfi, and by participating in mutual fund awareness campaigns.

Today, more than four crore 70 lakh people have opened mutual fund investment account, you can read the mutual fund growth happening in India in this article of Business Line.

so friends,

In today’s post, we talked about Association of Mutual Fund in India, if you have any question related to AMFI, then you must tell by commenting, I will definitely try to answer your questions.

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