AMFI extends fee waiver for new distributors till Sept

India Infoline News Service | Mumbai |

AMFI hopes that it would be able to add up around 1 lakh additional MF distributors

The Association of Mutual Funds in India (AMFI) has extended the free registration for new distributors by three months till the end of September 2013. The earlier deadline was ending on 30 June.

In order to increase the number of distributors and enhance mutual fund sales, AMFI had made registration fees zero.

According to the rates put up on AMFI’s website, individuals have to pay Rs. 3,000 for the Amfi registration number (ARN), while the new cadre of distributors has to pay Rs. 1,500 for the registration. This fee has been waived off till the end of September.

There will be no registration fees for new distributors in the categories of Individuals (including senior citizen) and new cadre of distributors.
 
AMFI hopes that by this move it would be able to add up around 1 lakh additional distributors in the industry taking it to 1.5 lakh from the current 50,000 active distributors.

 

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