Several MF distributors may have to go for name change after Amfi diktat

Amfi has barred them from using nomenclatures that have references to advisors, following Sebi move to separate distribution and advisory for the Rs 27-trillion industry

Several mutual fund (MF) distributors may have to get themselves rechristened. Industry body Association of Mutual Funds in India (Amfi) barred distributors from using nomenclature that has references to advisors. The move follows the decision taken by market regulator Sebi to bifurcate distribution and advisory for the Rs 27-trillion MF industry.

“Pursuant to the regulatory amendment, mutual fund distributors whose registered name has the terms such as Adviser / Advisor / Financial Adviser/ Investment Adviser/ Wealth Adviser/Wealth Manager/Wealth Managers etc. are required get their registered name changed,”Amfi said in a circular.

The industry body issued a non-exhaustive list of names that are