AMFI keen on regulation of MF distribution

KOLKATA: The Association of Mutual Funds of India (AMFI) is looking forward to a comprehensive regulation framework for distribution of mutual funds (MF) for which it said it is keen to work with Sebi.

Chairman of AMFI A P Kurian said at the Merchants' Chamber of Commerce meeting here today that there was a need to look at the distribution aspect of MFs.

He said that the Sebi chairman recently stressed upon the need to look into the aspect, adding that AMFI would be interested in partnering with the regulator in this regard.

The quality and professionalism of the distributors, Kurian said, would also have to be improved.

Speaking about the trends in the MF industry, he said that there had been clear shift in the preferences of investors towards equity from debt funds.

However, due to the recent volatility in the stock markets, there had been dip in assets under management (AUM) of Rs 10,000 crore.