AMFI
AMFI (Association of Mutual Funds in India) is the industry body and self-regulatory organisation for the mutual fund industry in India, established in 1995, representing all SEBI-registered Asset Management Companies and working to develop the mutual fund sector in a professional and ethical manner.
AMFI was established on 22 August 1995 with the primary mandate of promoting mutual fund investing, maintaining high professional and ethical standards across the industry, protecting investor interests, and functioning as the industry's interface with SEBI and the government. All AMCs registered with SEBI were mandatory members of AMFI, making it the de facto trade association and a quasi-regulatory body for the industry.
One of AMFI's most visible functions was the publication of daily NAVs (Net Asset Values) for all mutual fund schemes on the AMFI website (amfiindia.com). This centralised, free-to-access repository of NAV data made it possible for investors, advisors, platforms, and regulators to access standardised pricing information for every scheme in India without having to visit each individual AMC's website. AMFI's data portal also published historical NAV records, making return calculations and performance analysis accessible.
AMFI maintained the Registration Number (ARN) system for mutual fund distributors. Any individual or entity wishing to distribute mutual fund products in India had to qualify through a NISM (National Institute of Securities Markets) certification examination and obtain an ARN from AMFI. Distributors were required to renew their ARN periodically and adhere to AMFI's Code of Conduct, which mandated, among other things, disclosing commission structures and avoiding mis-selling. AMFI could suspend or cancel ARNs for distributors found in violation of conduct norms.
AMFI's investor education campaigns were among the most recognisable in Indian financial media. The 'Mutual Funds Sahi Hai' campaign — launched in 2017 across television, digital platforms, and outdoor advertising — was credited with significantly raising retail investor awareness of SIPs and equity mutual funds as a mainstream savings vehicle. Monthly SIP inflow data, published by AMFI, became one of the most closely tracked data points for assessing retail investor participation in equity markets: SIP flows crossing Rs 20,000 crore per month by 2024 were widely cited as evidence of deepening systematic participation.
AMFI also published monthly data on AUM (Assets Under Management) across fund categories, AMC-wise AUM, folios, and systematic transaction inflows. This data was used by analysts, policymakers, and market observers to track the growth and health of the mutual fund industry and its role in channelling household savings into capital markets.