Association Of Mutual Funds In India(AMFI).
Formed in the year 1995 as a non-profit organisation, it is an association of mutual funds which are registered with SEBI. AMFI is involved in the development of Mutual Fund industry and uplifting of its standards.It also helps to promote and maintain professional and ethical standards of the industry, It can be described as an intermediary between Mutual Fund and investors at one hand, and mutual funds and regulator SEBI at other hands.
Role And Objectives Of AMFI.
Its main role is ensuring following of code of ethics which are laid down by it. It also promotes self-regulation among Mutual Fund AMCs regarding following and maintaining high standards of good practices, AMFI calls it ‘ACE’ or AMFI code of ethics.It encourages its members to have integrity, follow due diligence, use professional selling practices, do voluntary disclosers, avoid conflict of interests, observing of rules and regulations. It interacts with SEBI, RBI, Government and other institutions and represents regarding matters of the Mutual fund industry.In the past it used to conduct certification and exams for advisers. AMFI has recently launched a Mutual Fund investment platform called MFutilities, by contribution from participating AMCs. this MFutilities platform is free for investors and brings multiple Mutual Funds under one place thereby making it easy for investing.
Hope this gives you a brief idea of what AMFI is all about. You may further get more information from AMFI website.