AMFI introduces District Adoption Program

AMFI introduces district adoption program as a part of its investor awareness campaign

August 23, 2013 7:19 IST | India Infoline News Service
Association of Mutual Funds in India (AMFI), today announced the launch of District Adoption Program (DAP), as a part of its Investor Awareness Campaign.

District Adoption Program (DAP) is the first ever financial inclusion initiative undertaken, by any industry body in the country. The initiative will involve voluntary participation of Mutual Fund players.

This was announced by Mr. H N Sinor, CEO, AMFI.

“We are happy to introduce the district adoption program to boost the financial literacy amongst the investors. Investor awareness is one of the key strategic issues of the industry and we are confident to transform the perception of people about Mutual Fund Industry.” said, Mr. H N Sinor, CEO, Association of Mutual Funds in India (AMFI).

Overall 200 districts across the country will be adopted by MF players as a part of this program. The allocation of the district will be basis on the MF player’s strong presence, in each district.

“Our objective is to expand the overall reach of the industry in Tier II and III cities. This initiative is a voluntary exercise with a common vision for all AMCs to enhance the retail participation in Mutual Fund,” said Mr. Sundeep Sikka, Vice Chairman, AMFI and, President & CEO, Reliance Capital Asset Management. He heads the Investor Awareness Committee at AMFI.

AMFI aims to conduct 5000 Investor Awareness Programs by end of FY 2014.

District Adoption Program (DAP), aims to create employment for nearly 2000 youths in Tier II and III cities, by inducting new cadre of Independent Financial Advisors (IFAs) in the Mutual Fund industry.

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