 "Mutual funds, MFs")
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
