Skip to Main Content

Association Of Mutual Funds In India: MF Association Role & Objectives

Want to know the role of mutual fund association in India? Click here to get complete information on AMFI, its objectives, roles, registration and responsibilities.
83_Association Of Mutual Funds In India

Introduction to Association of Mutual Funds (AMFI)

The Association of Mutual Funds in India (AMFI) is an association of all the Asset Management Companies (AMCs) of SEBI registered mutual fund houses in India. AMFI was incorporated on 22nd August 1995 as a non-profit organisation. As of December 2021, AMFI has 45 Asset Management Companies as its members.

AMFI is an umbrella organisation with representatives from the mutual fund industry. One of the important activities of AMFI includes creating awareness about mutual funds as an investment product among the masses. AMFI does this activity by conducting investor awareness programs (IAPs).

Relation between AMFI and mutual funds

AMFI is dedicated to developing the Indian mutual fund industry on professional, healthy, and ethical lines. The mutual fund association is also dedicated to enhancing and maintaining standards in all areas to protect and promote the interests of mutual funds and their unitholders.

AMFI represents the mutual fund industry while interacting with the Securities and Exchange Board of India (SEBI), the Government, the Reserve Bank of India (RBI), and other regulatory bodies. AMFI also undertakes studies and research on various topics related to the mutual fund industry.

AMFI carries out the above functions under the supervision and guidance of a Board of Directors. The Board of Directors mostly comprises representatives from various AMCs. AMFI forms various committees to carry out its functions. 

Some of these committees include:

  1. AMFI Financial Literacy Committee
  2. AMFI Committee on Certified Distributors (ARN Committee)
  3. AMFI ETF Committee
  4. AMFI Operations, Compliance & Risk
  5. AMFI Valuation Committee
  6. AMFI Equity CIO Committee

Objectives of AMFI

The objectives of AMFI include the following:

  1. To define and maintain high professional and ethical standards in all areas of operation of the mutual fund industry.
  2. To recommend and promote best business practices and code of conduct to be followed by members and others engaged in mutual fund and asset management activities, including agencies connected or involved in the field of capital markets and financial services.
  3. To interact with the Securities and Exchange Board of India (SEBI) and to represent to SEBI on all matters concerning the mutual fund industry.
  4. To represent to the Government, Reserve Bank of India, and other bodies on all matters relating to the Mutual Fund Industry.
  5. To undertake a nationwide investor awareness programme to promote proper understanding of the concept and working of mutual funds.
  6. To disseminate information on Mutual Fund Industry and undertake studies and research directly and/or in association with other bodies.
  7. To regulate the conduct of distributors, including disciplinary actions (cancellation of ARN) for violations of the Code of Conduct.
  8. To protect the interest of investors/unitholders.

Most of the above objectives are fulfilled through various committees appointed from time to time. AMFI has also framed a Code of Ethics that 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.

AMFI registration number

Most mutual fund sales happen through intermediaries such as mutual fund distributors (MFDs). Hence, MFDs must have the highest standards of knowledge, attitude, and ethics. To equip the MFDs with the above requirements, they must undergo the AMFI certification test. After passing the certification test, AMFI requires the MFD to register as AMFI Registered Mutual Fund Distributor (ARMFD). During the registration process, the MFD is issued a unique code known as AMFI Registration Number (ARN) along with an identity card.

The ARN is issued to individual agents, brokers, and other intermediaries involved in selling mutual funds. The ARMFDs must follow the AMFI broad guidelines, norms, and code of conduct. The ARN has a maximum validity of 3 years. The ARN holder needs to renew it on or six months before the expiry of the validity period.

Other services of AMFI

  1. Creating mutual fund awareness

    AMFI is actively working towards creating awareness about mutual funds among the masses. One of the initiatives in this direction is the "Mutual Funds Sahi Hai" advertisement campaign. You must have seen ads of this campaign across various media such as television, newspaper, outdoor advertisement boards, social media, etc. These ads promote various types of mutual fund schemes as investment products for the masses to achieve their financial goals. At the same time, these ads also highlight the risks involved in mutual fund investments.
  2. NAV data

    AMFI updates the latest net asset value (NAV) of all mutual fund schemes on its website. As an investor, you can access the NAV information by selecting the AMC name and scheme name. You can also download historical NAV data of up to 5 years at a time.
  3. Performance of mutual fund schemes

    You can compare the performance of various mutual fund schemes based on categories such as equity, debt, hybrid, etc. Within the equity category, you can further compare the performance of large-cap, mid-cap, small-cap funds, etc.
  4. Mutual fund industry data

    AMFI publishes the monthly data related to the mutual fund industry, which includes details such as:
    • Number of schemes in each mutual fund category
    • Number of folios in each category
    • Funds mobilised in a particular month
    • Net inflow/outflow of funds in a particular month
    • Net Assets Under Management (AUM) in a particular month, etc.

As an investor, if you wish to check and analyse the above data, you can download it from the AMFI website. Like monthly data, AMFI also publishes quarterly data related to the mutual fund industry.


AMFI plays an important role in representing the mutual fund industry when interacting with SEBI, RBI, Government, and other bodies. It creates awareness among investors for investing in mutual funds to achieve their investment goals. AMFI also helps MFDs for getting ARN. Thus, it plays a crucial role in catering to all the mutual fund industry stakeholders – AMCs, MFDs, and investors.

To read more on similar topics, click here:
SEBI Regulation for Mutual Funds
Direct Mutual Funds
How to Invest in Mutual Funds Online

Found it interesting? Share it with your friends

Click to start searching
Recent Posts
 List Of Best Low Expense Ratio Index Funds To Invest In India in 2022
All9 minsSeptember 30, 2022
What are Auto Sector funds? Are they a good investment option?
All6 minsSeptember 30, 2022
Can minors invest in mutual funds?
All7 minsSeptember 30, 2022
Indexation Benefit in Mutual funds & its Importance on Returns
All7 minsSeptember 30, 2022
How To Choose The Right Debt Fund?
All9 minsSeptember 20, 2022
Posts by Categories
Index funds (0)
Personal Finance (1)
Goal Based Investing (2)
MF investing (10)
Types of MF (10)
All (10)

Like What You See? Want to learn the simple ways to make investment stress-free?

Sign up for our newsletter & get the best expert advice & news around the financial world

We won’t annoy you more than once a week, Pinky Promise!