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Mutual Funds - Is your mutual fund advisor genuine?

10 May 2004

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There are umpteen mutual fund advisors around and how would you know who is reliable? Wait a minute.

To make things easier for you the Securities Exchange Board of India (SEBI) and the Association of Mutual Funds of India (AMFI) have come out with a mandatory examination and certification system that aims at promoting best practices and ethical standards in the business of sale of mutual fund.

SEBI has made it mandatory for all agents/distributors to obtain AMFI certification prior to appointment.

And AMFI Certified Intermediaries engaged in marketing and selling of mutual fund schemes are required to be registered with AMFI after passing the necessary AMFI certification Test. After which a unique ARN photo identity card is issued.

So your mutual fund advisor must be AMFI certified and registered holding an ARN identity card.

If you think these cards can be forged, something that is quite common these days you could call up the mutual fund office to check out.

Alternatively you could even log on to the AMFI website which lists details of its dealers/agents with their ARN numbers.

An intermediary not registered with AMFI is not an authorised mutual fund agent and cannot be paid brokerage as per AMFI rules.

Source: dwt BACK

To be added soon

Priyanshu B. Tanna

SEBI registered IFA

ARN119467 & EUIN E-183966

To be added soon

Bharat Tanna

SEBI registered IFA

ARN26176 & EUIN E-044509

To be added soon

Kundan B. Tanna

SEBI registered IFA

ARN294073 & EUIN E-553599

Risk factor

Risk Factors – Investments in Mutual Funds are subject to Market Risks. Read all scheme related documents carefully before investing. Mutual Fund Schemes do not assure or guarantee any returns. Past performances of any Mutual Fund Scheme may or may not be sustained in future. There is no guarantee that the investment objective of any suggested scheme shall be achieved. All existing and prospective investors are advised to check and evaluate the Exit loads and other cost structure (TER) applicable at the time of making the investment before finalizing on any investment decision for Mutual Funds schemes. We deal in Regular Plans only for Mutual Fund Schemes and earn a Trailing Commission on client investments. Disclosure For Commission earnings is made to clients at the time of investments. Option of Direct Plan for every Mutual Fund Scheme is available to investors offering advantage of lower expense ratio. We are not entitled to earn any commission on Direct plans. Hence we do not deal in Direct Plans.

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