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Mutual fund industry hit as new 'financial advisor' additions plunge

ARN is a unique code allotted to intermediaries by the Association of Mutual Funds in India (Amfi)

mutual funds
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Further, asset erosion in the recent market sell-off has hit revenues of distributors

Jash Kriplani Mumbai
The Rs 22-trillion mutual fund (MF) industry is facing growth hurdles not only from heightened market volatility but also from slowdown in the registration of new individual distributors or independent financial advisors (IFAs) entering the space.

Data shows, the number of new Amfi-registered number (ARN) for IFAs fell by 51 per cent year-on-year to 8,594 in 2019-20. Overall, the industry added 41,501 new distributors, down 26 per cent over 2018-19.

ARN is a unique code allotted to intermediaries by the Association of Mutual Funds in India (Amfi).

Earlier, the MF industry had set Rs 100 trillion as a potential target

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First Published: Apr 26 2020 | 8:58 PM IST

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