AMFI stands for Association of Mutual Funds in India. AMFI India is an association of SEBI registered Mutual Funds. It was incorporated on August 22, 1995, as a non-profit organization. AMFI was set up to maintain overall standards in the Mutual Fund industry.
AMFI is entrusted to maintain and define the ethical and professional standard in all operational areas of the industry. AMFI recommends the code of conduct and best practices for all its members.This includes all agencies, distributors, AMC’s etc that are engaged in activities of Mutual Funds. AMFI also makes representation to SEBI, the Government, RBI and other bodies on matters related to the Mutual Fund industry. It also undertakes the activity of getting a training and certification program in place for all intermediaries (Mutual Fund Distributors etc) engaged in the Mutual Fund industry.
AMFI strives for ethical and uniform professional standards in the Mutual Fund industry. It encourages members and investors to maintain ethical business practices and regulations. AMFI guidelines are followed by AMCs, agents, distributors, advisories and other bodies involved in the capital market or financial services. AMFI spreads awareness across the country on safe mutual fund investments. General public is well aware of the campaign “Mutual Fund Sahihai”. This is AMFI’s brainchild. https://www.mutualfundssahihai.com/en All AMC’s pay 0.01% of their AUM to AMFI for investor awareness.
Investors can approach AMFI for their grievances and register complaints against a fund manager or a fund house. The AMFI "locate distributor" services available on the AMFI website (amfiindia.com) is used to locate certified Mutual Fund distributors within a certain area. AMFI website is also popular for “AMFI NAV” facility it provides. This provides historical NAV’s for all Mutual Fund schemes. This is used by AMC’s, distributors and various research analysists.Other services provided include circulars, newsletters, updates and other data related to the Mutual Funds industry.