Association of Mutual Funds (AMFI) is a government-led organization in India that works as a one-stop destination for any issues that an investor may have regarding any unexpected monetary losses or concerns about the mutual fund. Statutory bodies like AMFI and Securities Exchange Board of India (SEBI) play a vital role in helping investors build faith in the market and invest in mutual funds.

Keeping the Investors Informed

Association of Mutual Funds tends to build strong ethics and crystal clear rules and regulations in the Indian Mutual Fund domain. Every fund house, advisor, trustee and/or agent is bound to register with AMFI. The association currently has 42 SEBI registered Asset Management Companies (AMC), which work on making investments easy and transparent for people.

The association is solely dedicated towards developing the mutual fund industry in the country professionally and ethically, while also maintaining standards in all areas. Because of the transparency it offers, it is suggested that investors check the details about the fund that they are planning to invest in at AMFI.

Objectives of AMFI

The Association of Mutual Funds of India (AMFI) functions with the following objectives-

  • Define and maintain professional and ethical standards in the Indian mutual fund industry
  • Recommend and promote effective business practices and code of conduct to be followed by the members of mutual fund and AMCs
  • Interact with and represent to SEBI on all matters associated with the mutual fund industry
  • Undertake nationwide investor awareness programmes in order to promote proper understanding of the concept and working of mutual funds
  • Disseminate information on the mutual fund industry and undertake research and study in association with other bodies
  • Regulate the conduct of distributors including disciplinary actions for violations of Code of Conduct
  • Protect the interests of investors and/or unit holders

AMFI Registration Number

AMFI Registration Number or ARN is a unique number that is assigned to mutual fund agents, distributors, and brokers. To get an ARN number, agents, distributors and brokers need to clear the NISM Certification. It is only after the clearance of this certification that an AMC is allowed to sell or recommend a mutual fund to investors. Additionally, if you are a senior citizen, you must also pass the Continuing Professional Education or CPE.

The NISM certificate includes the name of the AMC, a photo of the cardholder, ARN number, and address of the corporate. The certificate also has a validity for 3 years, which is mentioned on it. The availability of this information justifies the association’s belief in transparency and helps investors crosscheck the details provided by the AMCs.

Members of AMFI

As of now, there are 44 members under the Association of Mutual Funds of India. They are as follows-

1. Aditya Birla Sun Life AMC Limited 23. JM Financial Asset Management Limited
2. Axis Asset Management Company Ltd. 24. Kotak Mahindra Asset Management Company Limited
3. Baroda Asset Management India Limited 25. L&T Investment Management Limited
4. BNP Paribas Asset Management India Private Limited 26. LIC Mutual Fund Asset Management Limited
5. BOI AXA Investment Managers Private Limited 27. Mahindra Asset Management Company Pvt. Ltd.
6. Canara Robeco Asset Management Company Limited 28. Mirae Asset Global Investments (India) Pvt. Ltd.
7. DHFL Pramerica Asset Managers Private Limited 29. Motilal Oswal Asset Management Company Limited
8. DSP Investment Managers Private Limited 30. PPFAS Asset Management Pvt. Ltd.
9. Edelweiss Asset Management Limited 31. Principal Asset Management Pvt. Ltd.
10. Essel Finance AMC Limited 32. Quant Money Managers Limited
11. Franklin Templeton Asset Management (India) Private Limited 33. Quantum Asset Management Company Pvt. Ltd.
12. HDFC Asset Management Company Limited 34. Reliance Nippon Life Asset Management Company
13. HSBC Asset Management (India) Private Ltd. 35. Sahara Asset Management Company Pvt. Ltd.
14. ICICI Prudential Asset Management Company Limited 36. SBI Funds Management Pvt. Ltd.
15. IDBI Asset Management Ltd. 37. Shriram Asset Management Co. Ltd.
16. IDFC Asset Management Company Limited 38. SREI Mutual Fund Asset Management Pvt. Ltd.
17. IIFCL Asset Management Co. Ltd. 39. Sundaram Asset Management Company Limited
18. IIFL Asset Management Ltd. 40. Tata Asset Management Limited
19. IL&FS Infra Asset Management Limited 41. Taurus Asset Management Company Limited
20. Indiabulls Asset Management Company Ltd. 42. Union Asset Management Company Pvt. Ltd.
21. Invesco Asset Management Company Ltd. 43. UTI Asset Management Company Ltd.
22. ITI Asset Management Limited 44. YES Asset Management (India) Ltd.

Here is a List of Best Performing Mutual Funds you can Invest in FY 2019-20:

Scheme Name AUM (CR) 1Y Return 3Y Return 5Y Return
Mirae Asset Emerging Bluechip Fund – Direct Plan 8868 17% 18% 17%
Mirae Asset Emerging Bluechip Fund – Growth 8868 16% 17% 16%
Axis Small Cap Fund – Direct Plan 1200 23% 16% 13%
Axis Long Term Equity Fund – Direct Plan 21492 18% 18% 12%
IIFL Focused Equity Fund – Direct Plan 446 29% 16% 12%
Invesco India Growth Opportunities Fund – Direct Plan 1991 14% 18% 12%
Axis Midcap Fund – Direct Plan 3551 18% 19% 12%
Axis Small Cap Fund – Growth 1200 21% 14% 12%
Sundaram Rural and Consumption Fund – Direct Plan 2155 7% 11% 12%
JM Multicap Fund – Direct Plan 143 19% 16% 11%
DSP Natural Resources and New Energy Fund – Direct Plan 380 0% 9% 11%
Axis Bluechip Fund – Direct Plan 8749 22% 21% 11%
Axis Long Term Equity Fund – Growth 21492 17% 16% 11%
JM Tax Gain Fund – Direct Plan 35 16% 16% 11%
Sundaram Rural and Consumption Fund – Growth 2155 6% 10% 11%
Invesco India Mid Cap Fund – Direct Plan 621 6% 13% 11%
Kotak India EQ Contra Fund – Direct Plan 874 14% 17% 11%
IIFL Focused Equity Fund – Growth 446 27% 14% 11%
DSP Natural Resources and New Energy Fund – Regular Plan 380 -1% 8% 11%
Axis Midcap Fund – Growth 3551 16% 18% 10%
Invesco India Growth Opportunities Fund – Growth 1991 13% 16% 10%
Canara Robeco Bluechip Equity Fund – Direct Plan 257 18% 17% 10%
JM Multicap Fund – Growth 143 18% 15% 10%
Axis Bluechip Fund – Growth 8749 21% 19% 10%
DSP Equity Fund – Direct Plan 2888 20% 15% 10%
JM Tax Gain Fund – Growth 35 16% 15% 10%
Kotak India EQ Contra Fund – Growth 874 12% 15% 9%
DSP Equity Fund – Regular Plan 2888 19% 14% 9%
Canara Robeco Bluechip Equity Fund – Regular Plan 257 16% 16% 9%
Canara Robeco Equity Diversified – Direct Plan 1581 14% 16% 9%
Tata Mid Cap Growth Fund – Regular Plan 747 10% 11% 9%
Canara Robeco Equity Diversified – Regular Plan 1581 13% 16% 8%
Invesco India Infrastructure Fund – Direct Plan 41 12% 13% 7%
Invesco India Infrastructure Fund – Growth 41 10% 11% 6%
LIC MF Infrastructure Fund – Direct Plan 55 15% 11% 5%
LIC MF Infrastructure Fund – Growth 55 13% 10% 4%
Mirae Asset Tax Saver Fund – Direct Plan 2671 18% 20%
Mirae Asset Tax Saver Fund – Regular Plan 2671 16% 18%

The post Know All About Association of Mutual Funds in India – AMFI appeared first on Compare & Apply Loans & Credit Cards in India- Paisabazaar.com.



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