The Association of Mutual Funds in India (AMFI) on Tuesday warned mutual funds (MFs) not to offer foreign trips, gadgets or any incentive in kind to their distributors for achieving targets, reminding them that they are allowed to offer only trail commissions.“Recently, images of certain purported sales promotion campaign apparently run by a distributor were doing the rounds on WhatsApp, wherein ‘Foreign Domestic Trips’ were offered for mobilization of a certain amount of subscriptions in select mutual fund schemes," the industry body said in a letter to its members, seen by Mint.
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