Association of Mutual Funds in India (AMFI)

The Association of Mutual Funds in India (AMFI) is dedicated to developing the Indian Mutual Fund Industry on professional, healthy and ethical lines and to enhance and maintain standards in all areas with a view to protecting and promoting the interests of mutual funds and their unitholders. AMFI, the association of SEBI registered mutual funds in India of all the registered Asset Management Companies, was incorporated on August 22, 1995, as a non-profit organisation.

The AMFI Code of Ethics, “The ACE” for short, sets out the standards of good practices to be followed by the Asset Management Companies in their operations and in their dealings with investors, intermediaries and the public. SEBI (Mutual Funds) Regulation 1996 requires all Asset Management Companies and Trustees to abide by the Code of conduct as specified in the Fifth Schedule to the Regulation. The AMFI Code has been drawn up to supplement that schedule, to encourage standards higher than those prescribed by the Regulations for the benefit of investors in the mutual fund industry.

AMFI interacts with the Securities and Exchange Board of India (SEBI) and to represent to SEBI on all matters concerning the mutual fund industry and it represents to the Government, Reserve Bank of India, and other bodies on all matters relating to the Mutual Fund Industry. At the same time, it disseminates information on Mutual Fund Industry and to undertake studies and research directly and/or in association with other bodies.

Legal Connection: SEBI (Mutual Fund) Regulations

Area of Motivation

• Financial Literacy
• Valuation
• Operations and Compliance
• Certified Distribution
• ETFs and Index Funding

Present Members

1. Aditya Birla Sun Life AMC Limited
2. Axis Asset Management Company Ltd.
3. Baroda Asset Management India 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 Management 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 (India) Private Limited
22. ITI Asset Management Limited
23. JM Financial Asset Management Limited
24. Kotak Mahindra Asset Management Company Limited
25. L&T Investment Management Limited
26. LIC Mutual Fund Asset Management 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
44. YES Asset Management (India) Ltd.

 It is stipulated that members shall endeavor to ensure the following ethical standards:

● Investors are provided with true and adequate information without any misleading
or exaggerated claims to investors about their capability to render certain services or their achievements in regard to services rendered to other clients,
●Investors are made aware of attendant risks in members’ schemes before any investment decision is made by the investors,
● Copies of prospectus, memoranda and related literature is made available to investors
on request,
●Adequate steps are taken for fair allotment of mutual fund units and refund of application moneys without delay and within the prescribed time limits and,
● Complaints from investors are fairly and expeditiously dealt with.

Office bearer

Mr. Nilesh Shah is the Chairman
Managing Director
Kotak Mahindra Asset Management Co. Ltd.

SOURCE: AMFI web