AMFI has reduced ARN registration and renewal fees by 50% effective May 1, 2021.
With this, the new ARN registration and renewal fee for individual distributors have been reduced to Rs.1500 and Rs.750 excluding GST, respectively.
Similarly, AMFI has slashed EUIN registration and renewal fees to Rs.500 and Rs.750, respectively.
AMFI has reduced registration and renewal fees for all categories of distributors be it individual, sole proprietary, LLP, HUF or private limited.
Nilesh Shah, Chairman, AMFI said: “We aim to have greater number of small savers to benefit from long term investment solutions offered by the mutual fund industry. This initiative of reducing the registration and renewal fees would help larger number of individuals from across the country to come into Mutual Fund distribution fold and contribute to the last mile connectivity.”
NS Venkatesh, Chief Executive, AMFI said, “The reduced fees for ARN and EUIN registration and renewals for the Mutual Fund Distributors would go a long way in helping the cause of Mutual Fund expansion. We also want the younger generation to look at Mutual Fund Distribution as an exciting career opportunity and with this reduction in fees we hope to attract far higher number of new Mutual Fund distributors which would help the industry to enhance penetration and channelize small savings into long term market-linked savings solutions.
