AMFI announces Industry-level Recognition Program for Registered Investment Advisors for their contribution towards the growth of the Indian Mutual Funds Industry
Venkat Chalasani, Chief Executive, AMFI
FinTech BizNews Service
Mumbai, 6 August 2024: The Association of Mutual Funds in India (AMFI) has announced an encouraging initiative to honour the exemplary contributions of mutual fund intermediaries, i.e the mutual fund distributor (MFD) and registered investment advisor (RIA) fraternity.
The initiative will recognize the efforts of intermediaries in promoting mutual fund investments through a yearly Industry-level recognition program titled ‘Partners in Excellence’ across 6 zones, covering almost 400 cities and towns spread across the country and recognizing around 165 individuals and entities. This initiative underscores AMFI's commitment to fostering excellence within the distributor and advisor community and further elevating standards of service and performance.
Commenting on the announcement, Mr. Navneet Munot, Chairman, AMFI expressed enthusiasm about the recognition program, stating, "Mutual fund intermediaries, both distributors and investment advisors, play a crucial role in the growth and development of the mutual fund industry. With the introduction of our Industry-level Recognition Program ‘Partners in Excellence’, we aim to not only celebrate their achievements but also inspire excellence and innovation in service delivery."
Mr. Vishal Kapoor, Director, AMFI, who spearheads the AMFI Committee on Distributors, said, “The programme intends to recognize the tireless efforts and outstanding performance of distributors and advisors who have played a pivotal role in driving the adoption of mutual funds across the nation.”
Adding further, Mr. Venkat Chalasani, Chief Executive, AMFI commented, “To be recognized by AMFI, the apex industry trade body, is an achievement that will motivate all the intermediaries to give it their best towards making mutual funds the preferred investment option for long term wealth creation.”
The annual recognition program will be multifaceted, encompassing various parameters aimed at rewarding distributors and registered investment advisors for their dedication and achievements. Key focus areas for the program include:
· Getting New Investors: Felicitating intermediaries who get the maximum number of new investors into the mutual funds fold.
· Covering and Servicing Funds on Growth and Hybrid: Recognizing intermediaries who have demonstrated exceptional proficiency in promoting and managing funds facilitating wealth creation for investors.
· Long Term Debt Champions: Recognizing intermediaries who promote long-term debt schemes for investors looking for alternatives to traditional deposit instruments.
· New SIPs Promotion: Celebrating intermediaries who have been instrumental in promoting and facilitating investments in New Systematic Investment Plans (SIPs), thereby encouraging systematic and disciplined wealth accumulation among investors.
· Live SIPs Management: Honouring intermediaries who have effectively managed Live SIPs, ensuring consistent investment flows and financial discipline among investors.
· Servicing Women Investors: Recognizing intermediaries who have demonstrated a commitment to financial literacy by effectively servicing women investors across the country, thereby empowering them with financial knowledge and opportunities.
· Recognizing Women MFDs: Recognizing women MFDs to encourage more women to to take up the profession and also get more women to adopt mutual funds.
· Recognising New Mutual Fund Distributors / Registered Investment Advisors: Felicitating New ARNs/RIAs registered on or after April 1, 2022.
This program is completely driven by AMFI, and partners do not have to apply or pay any participation fees. Winners will be selected objectively, based on a carefully selected set of quantitative parameters and on the data collated from the RTAs.
