What AMFI actually does
Association of Mutual Funds in India AMFI
Mutual funds' association — self-regulatory in practice, not by recognition (SEBI context entry)
The Association of Mutual Funds in India (AMFI, est. 1995, CIN U65991MH1995NPL092062) is the mutual-fund industry's association. It behaves self-regulatorily — codes of conduct for AMCs and distributors, the ARN registration regime — but SEBI has never granted it formal SRO recognition (a gap documented in the World Bank's 2007 SRO policy note, and unchanged by SEBI's 2024 SRO framework, which covers stock brokers, IAs and RAs).
Self-regulatory work
- AMFI Code of Conduct for AMCs; codes and norms for distributors (ARN holders) incl. investor-protection and conduct rules.
- Industry data office: daily/weekly/monthly MF folio and AUM statistics that underpin most sector reporting.
- Investor-awareness programmes (AMFI-appointed 'Mutual Funds Sahi Hai' campaign).
Membership (captured 2026-09-26)
- 56 member AMCs listed on amfiindia.com's Members tab (from 360 ONE and Abakkus to Zerodha and old-line sponsors).
- Count has grown rapidly with new AMC licences (Angel One, Capitalmind, AlphaGrep, Groww, Helios et al).
Gaps & open questions
- Not a recognised SRO: no SEBI-granted disciplinary mandate; distributor discipline (ARN suspensions) exists but without a dated public trail.
- A 'context' register row — upgraded to tracked only if SEBI formalises an MF-sector SRO.