1,000 MF distributors register with AMFI each month

India Infoline News Service | Mumbai |

The number of increase in mutual fund distributors is attributed to recent reduction in the ARN fee

Over 1,000 new distributors are getting registered every month with AMFI (Association of Mutual Funds in India), according to a media report.

The number of increase in mutual fund distributors is attributed to recent reduction in the ARN fee, opening of new cadre of distributors and zero fees for first time ARN registration, the report added.

In order to penetrate the sale of mutual funds in semi-urban and rural region, many large fund houses are recruiting a new cadre of distributors.

To expand the distributors and attract more retail participation, SEBI (Securities and Exchange Board of India) allowed retired bank officers, retired teachers, and postal agents to sell a limited range of schemes.
 

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