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Press Release

Shri D. R. Mehta, Chairman, SEBI today launched the revamped AMFI Website giving a single window for release of NAVs of all mutual funds on a real time basis.

The present system of releasing NAVs and its deficiencies

The need for a single window and a common platform

Benefits of the new system

AMFI Website Now a Multi-Dimensional Site


The present system of releasing NAVs and its deficiencies

Welcoming Shri D. R. Mehta and other dignitaries Shri A. P. Kurian, Chairman AMFI briefly mentioned the present system and the deficiencies. Currently, Mutual Funds release the NAVs directly to media, to AMFI and to others. AMFI, consolidates the NAVs received from members and transmits the same to media and others. This process involves manual intervention resulting in time gap between the date of NAV and the date of release in some cases. The reader more often is unable to view the NAVs of all funds listed category wise for specific days. Further, the user has to refer to several sources of publications to get complete picture of NAVs of all mutual funds.

The need for a single window and a common platform

In order to eliminate these deficiencies in the dissemination of NAVs and to enhance the quality, coverage and timeliness of availability of NAV data which could be easily accessible to all concerned – media, investors and general public – AMFI, at the instance of SEBI has developed a common platform providing NAVs of all Mutual Funds at one source.

This common platform is a web enabled portal which will gather the NAVs of all mutual funds and present the same in a meaningful manner as soon as the mutual funds have entered the data on AMFI’s portal. The NAV data will be presented type-wise – open end and close end and category wise – income, growth, balanced, liquid, money-market, Gilt and ELSS for each mutual fund. The data will pertain to NAV, sale Price and redemption price and the date.

As the members will be computing the NAV of open ended funds everyday, it is expected that by late evening the NAVs of all open ended schemes will become available from one source – The AMFI Website from which the media, investors and general public could read, download, print or access it in any manner.

Benefits of the new system

The new system of disseminating NAVs effective from today November 24, 2000 will result in

  1. Getting the latest NAVs – in most cases the day’s NAV on the same day itself thus eliminating the time gap.

  2. Getting the NAVs of all the mutual funds at one place and at one time in a meaningful, type-wise and category-wise presentation.

  3. The media need not wait for e-mail, faxes or call up funds; they need only visit AMFI website i.e www.amfiindia.com, go to the NAV page and view, download and print NAVs of all mutual funds meaningfully classified.

  4. Providing a mechanism to monitor disseminating of NAVs.

AMFI Website Now a Multi-Dimensional Site

The AMFI website has been revamped to enhance its contents and it would now provide:

  1. Updated information on various aspects such as Board of Trustees, Fund Managers, compliance officer, contact information etc of each mutual fund.

  2. Industry data Monthly and Quarterly.

  3. AMFI activities and publications.

It will be AMFIs endeavor to constantly upgrade and enhance the contents and features of the website in order to provide meaningful and updated information for the benefit of general public both in India and Abroad.

Prof. J. R. Varma, Member SEBI Board, Shri Ashok Kacker, Executive Director, SEBI and Shri P. S. Subramanyam, Chairman, Unit Trust of India also spoke on the occasion.

November 24, 2000

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