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  1. Issue management, portfolio management, fund management, about the market scenerio and economic position of the country, potential areas and potential markets, basics of marketing.

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    AMFI-Mutual Fund (Basic) Module
    This module gives more than an elementary knowledge about the mutual funds. It covers the legal and regulatory environment in which the mutual fund industry works and also outlines the accounting, valuation and taxation issues related to mutual funds. This module has been developed by the Association of Mutual Funds in India (AMFI).

    AMFI- Mutual Fund (Advisors) Module is currently available in English, Gujarati and Hindi languages. The workbook for the module, which is available for a fee at AMFI, remains in English but the online test is conducted in Gujarati and Hindi languages also.

    Why should one take this course?
    To understand concepts and working of mutual funds.

    To learn about the fund distribution and sales practice.

    To learn about the fund performance and evaluation measures.

    To understand investment management.

    Who will benefit from this course?



    Mutual fund advisors and distributors engaged in marketing and selling of mutual funds

    Employees of corporate intermediaries

    Financial Planners

    Bank Employees

    Test details
    Duration: 90 minutes

    No. of questions: 62

    Maximum marks: 100, Passing marks: 50 (50%); There is negative marking for incorrect answers.

    Rs. 1,000 (Rupees One Thousand only).

    Course outline
    Concept, evolution and the role of mutual funds; Types of funds.

    Fund Structure and Constituents
    Legal structure of MFs in India, US and UK; Rights and responsibilities of the AMC directors, trustees; Role, function, rights and responsibilities of other market constituents; Fund mergers and scheme takeovers

    Legal and Regulatory Environment
    Role of the different regulators in India; Regulation vs. self regulation, Role of AMFI, Investor associations, Consumer forums/courts; Rights and obligations of the investor,

    The Offer Document
    Contents of the offer document as per SEBI format, Key information memorandum

    Fund Distribution and Sales Practices
    Distribution channels in India and challenges; Role of DMAs and Sales practice.

    Accounting, Valuation and Taxation
    SEBI regulations on NAV computation, pricing of units, fees and expenses, Initial Issue Expenses, disclosures and reporting requirements and accounting policies. Taxation and valuation aspects of MFs.

    Investor Services
    Application for account opening with MF, Repurchase and redemption options, Cut-off time for submissions of requests, Historical vs. Prospective NAVs; Different investment plans and services, Loans against units.

    Investment Management
    Equity and debt portfolio management, Use of derivatives for debt portfolio management, Interest rates and debt portfolio management, SEBI investment guidelines and restrictions on investment portfolios.

    Measuring and Evaluating Mutual Fund Performance
    Performance measures for equity, debt and liquid funds, NAV growth, total return, annualized return, expense ratio, portfolio turnover rate, fund size, transaction costs, cash flow; Benchmarking for performance evaluation; Tracking a funds performance and its Interpretation.

    Study material
    The Study material for the AMFI (Basic) module is available for sale at AMFI’s office:

    Association of Mutual Funds In India

    706-708, Balarama

    Bandra-Kurla Complex

    Bandra (East)

    Mumbai – 400 051

    Telephone: 26590206 / 26590243 / 26590246 / 26590382

    Fax: 26590209 /26590235

    Website: http://www.amfiindia.com

    AMFI-Mutual Fund (Advisors) Module