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Press Release

The certification programme for distributors launched by AMFI towards the end of last month has been well accepted by the community of agent distributors as it will help them to enhance their level of knowledge of the working of mutual funds and the risk return profile of its various schemes. This would in turn give a great support to their profession of marketing mutual funds.  In order to help the agent distributors to take the test the UTI Institute of Capital Markets has taken the initiative of conducting workshops and training courses for agents. The first such workshop is planned for September 16 and 17, 2000. Agent distributors in and around Mumbai may contact the UTI Institute of Capital Markets, Plot No.82, Sector – 17, Vashi, Navi Mumbai – 400 075. Telephone No: 7892815/16 Fax No:7892851/7892824.
Other training institutes and organisations will also be coming up with training programmes. AMFI would thus help promote training programmes in order to facilitate agent distributors to take the test.  It is only after providing adequate infrastructure for training facilities across the country that the certification programme would be made mandatory. AMFI’s recommendation in this respect is that while certification should be made mandatory as in other countries, considering the large number of agency force spread over the entire country it should be made mandatory only over a period of time and in a phased manner with a provision for recognising the agent distributors who have long years of experience and successful record of service. AMFI in consultation with its members would make suitable recommendations in this regard to SEBI.

August 25, 2000

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