Amfi lists first-tier benchmarks for mutual fund schemes

The Association of Mutual Funds in India (AMFI) has published the list of indices intended to be used by AMCs as first-tier benchmarks.

A circular put out by the Securities and Exchange Board of India (Sebi) in October last year had asked the industry to bring in uniformity in the benchmarks of mutual fund (MF) schemes. The regulator had mandated a two-tiered structure for benchmarking of schemes for certain categories of schemes.  The first tier benchmark would be reflective of the category of the scheme, and the  second-tier benchmark  would be demonstrative  of  the investment  style and strategy  of  the