AMFI has completed its silver jubilee. AMFI was incorporated in August 1995 when there were around 15 member AMCs, the industry body now has 44 members.
In a press release, Nilesh Shah, Chairman of AMFI, said, “It’s a proud occasion for all of us within the mutual fund industry. AMFI’s contribution in developing and supporting the industry has been note-worthy. The steady shift in savings pattern in favour of equities through SIP in mutual funds has resulted not only in a significant rise in the Indian equity ownership but also contributing as a strong counterbalance, to Foreign Institutional Investors.”
N S Venkatesh, Chief Executive, AMFI said, “We are thankful to the millions of unitholders who have reposed their faith in the mutual funds and SEBI’s continuous support and guidance all along. We are also thankful to the member AMCs, the distribution community, service providers like RTAs, Banks, custodians, intermediaries like stockbrokers, investment advisors and others who have supported AMFI at every step of this 25-year journey. We look forward to their unstinted support in the years to come and will dedicatedly work towards the betterment of the industry while keeping investor interest paramount”
Over the last 25 years AMFI has been spreading investor education, creating financial inclusion, bringing global best practices to the industry, improving corporate governance and lowering cost of transactions through economies of scale. In fact, ‘Mutual Funds Sahi Hai’ media campaigns have helped reach out to larger retail audience and create awareness. From largely an urban and institution focused industry, mutual funds now have over 15% of the assets coming from beyond the top 30 cities and 52% of assets coming from individual investors.
