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AMFI launched its 'Partners in Excellence' initiative at a recent event held in Mumbai. The initiative will recognize mutual fund distributors and investment advisers for their business performance.
The event highlighted the similarities between distributors and coaches, how they both work along similar lines to bring investors/sportspersons to success.
The event featured key industry speakers including AMFI Chairman Navneet Munot, SEBI Executive Director Manoj Kumar and AMFI Chief Executive Venkat Chalasani.
At the event, Manoj Kumar, Executive Director, SEBI, applauded efforts of mutual fund distributors and said, “On one side, we have champions who have done a great name for this country through their grit and determination. On the other side, we have champions who are doing a great service in financial inclusion through their perseverance and persuasion"
Seconding Kumar, AMFI Chief Executive Venkat Chalasani said, "Mutual fund distributors and RIAs serve as a guiding force behind every investor's financial success. Recognizing this pivotal role, the mutual fund industry has come together to launch the Partners in Excellence. This annual initiative will celebrate the dedication and achievements of our friends, mutual fund distributors and RIAs who tirelessly work to bring more investors into the fold, nurture the existing ones and inspire confidence in India's growth story."
Highlighting the role of MFDs, AMFI Chairman Navneet Munot, said, “67 lakh crore AUM, 5 crore investors, 20 crore folios, 10 crore SIP accounts, 25,000 crores in SIP inflows. But all of this wouldn't have been possible without the active support of our distributors and our partners.”
The program included a fireside chat featuring Paralympic gold medalist Navdeep Singh and a panel discussion with insights from Paralympic Committee of India President Devendra Jhajaria, Team India Para Athletics Coach Satyanarayana, Dhruv Mehta, Chairman - Foundation of Independent Financial Associates, and Harsh Roongta of Fee Only Investment Advisers.
Here are the details of awards:
The Partners in Excellence awards will include Individual MFDs, RIAs, Banks, National Distributors, Regional Distributors and Women MFDs. They will be awarded based on five criteria.
- New Investor Addition
- Addition of New Women Clients
- Net Sales
- Growth in SIPs
- Most Enterprising New Intermediary (joined in past 2 years)
The award Categories will have:
- Most new PANs added
- Number of women investors added
- Net Sales – Equity and Hybrid
- Net Sales – Long Term Debt
- Net SIP Book
- Fresh number of SIPs
- Super Starter in each Zone (For Individual MFDs, RIAs and women MFDs)
The awards for individual MFDs will be divided into zones, as shown below:
|
Zone |
Coverage |
|
Zone 1 |
Top 5 Cities (Mumbai, Delhi NCR, Bangalore, Pune, Kolkata) |
|
Zone 2 |
Next 10 Cities (Chennai, Ahmedabad, Hyderabad, Vadodara, Jaipur) |
|
Zone 3 |
Next 15 Cities (Patna, Coimbatore, Indore, Ludhiana, Nasik) |
|
Zone 4 |
Next 30 Cities (Raipur, Aurangabad, Varanasi, Allahabad, Thiruvananthapuram) |
|
Zone 5 |
Next 30 Cities (Hubli, Shimla, Bilaspur, Bhagalpur, Mehsana) |
|
Zone 6 |
Rest of India |
Number of awards:
- The top 3 Individual MFDs of each zone will receive a prize. Hence, there will be 18 awards per each of the 7 categories. There will be a total of 126 awards given to individual MFDs.
- The top Banks/NDs/RDs will each be awarded in the 6 categories. There will be a total of 18 awards given to Banks/NDs/RDs.
- The top 2 RIAs will be awarded in each of the 7 categories. There will be a total of 14 awards given to RIAs across India.
- The top Women MFD will be awarded based on each category. There will be a total of 7 awards given to Women MFDs across India.
- 165 awards will be given out throughout the event.
There is no need to submit entries. Winners will be selected objectively, based on a carefully selected set of quantitative parameters and on the data collated from the RTAs.
