AMCs have furnished the lists of cities where they plan to conduct Investor Awareness Programs (IAPs) to AMFI
AMFI officials have asked AMCs to take up investor awareness programs (IAPs) in a structured manner. As part of this communication, the industry body is believed to have sought a list of cities where the AMCs plan to hold these camps, said two people familiar with the development. It is understood that most AMCs have sent the list of cities to AMFI.
SEBI has mandated AMCs to invest two basis points of their assets under management on investor awareness activities. Based on current AUM, AMCs have Rs 162 crore at their disposal to spend on IAPs.
“AMCs are organizing events at various locations. The list of cities will help AMCs to operate in a structured manner and will ensure that every major city or district is covered,” says the marketing head of a bank sponsored AMC.
AMCs are also taking help from their independent agencies, distributors and media houses to conduct IAPs. In fact, some AMCs have tied up with regional newspapers so as to reach out to people in far off areas.
