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.
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.
AMFIs 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