Industry body Amfi on Tuesday said it has revived the online registration facility for obtaining fresh Amfi registration number (ARN) and employee unique identification number (EUIN) for mutual fund distributors.
Amfi slashes ARN registration, renewal fees for mutual fund distributors by 50 per cent
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Last Updated: Apr 30, 2021, 03:09 PM IST
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By reducing the ARN and EUIN registration and renewal fees, Amfi wants to encourage new and young individuals across the country to reach out to large base of small savers.
Agencies
New Delhi, Apr 30 : Mutual fund industry body Amfi on Friday said it has reduced the ARN (AMFI Registration Number) registration and renewal fees for most distributor types, including individual ones, by 50 per cent of the existing rates, effective from May 1. In addition, the EUIN (Employee Unique Identification Number) registration and renewal fees for employees cut down to Rs 500 from Rs 1,500 and Rs 750, respectively.
Amfi slashes ARN registration, renewal fees for mutual fund distributors by 50%
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Amfi slashes ARN registration, renewal fees for mutual fund distributors by 50%
PTI / Apr 30, 2021, 15:11 IST
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NEW DELHI: Mutual fund industry body Amfi on Friday said it has reduced the ARN (AMFI Registration Number) registration and renewal fees for most distributor types, including individual ones, by 50 per cent of the existing rates, effective from May 1.
In addition, the EUIN (Employee Unique Identification Number) registration and renewal fees for employees cut down to Rs 500 from Rs 1,500 and Rs 750, respectively.
By reducing the ARN and EUIN registration and renewal fees, Amfi wants to encourage new and young individuals across the country to reach out to large base of small savers, especially in the Tier II and III cities and towns, to channelise financial savings into mutual fund asset class, the industry body said in statement.
Updated Mar 16, 2021 | 18:12 IST
The Indian MF industry could be worth Rs 100 lakh crore in the next decade. However, currently, there is just 1 distributor for every 17,000 people, indicating a massive growth opportunity for insurance agents Top fund houses, NSE to add 50,000 new mutual fund distributors over next 3 years | Photo Credit: Thinkstock
India’s top Asset Management Companies (AMCs) along with NSE and CIEL joined hands to build 50,000 new to industry Mutual Fund Distributors over the next three years.
This is being done under the aegis of ExpertMFD, a first pan-India collaborative initiative comprising of top AMCs who manage over two-third of the total AUM in the mutual fund industry. These include marquee names like Aditya Birla Sun Life Mutual Fund, Axis MF, ICICI Prudential MF, L&T MF, Nippon India MF, SBI Mutual Fund and Sundaram MF who have joined hands with NSE (National Stock Exchange) and CIEL (Centre for Investment E
This is being done under the aegis of ExpertMFD,a first pan-India collaborative initiative comprising of top AMCs who manage over 2/3rd of total AUM in Mutual Fund Industry. The