Will small AMCs move out of AMFI and set up parallel body?

Small and mid-sized mutual fund houses have raised questions at the functioning of their industry body – Association of Mutual Funds in India (Amfi). They allege is decision making process is tilted towards the sector’s top players, which they termed “irrational and dangerous”. Though the smaller players have been unhappy with Amfi for quite some time, the latest trigger for their angst is the industry body’s plan to stop payment of upfront commissions to distributors selling equity products. During interactions with Business Standard, more than half a dozen industry chief executives even went to the extent of saying that if the impact of big players continues unabated, they would prefer to move out from Amfi and form a parallel body.



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