National News

AMC-NSE to build 50,000 new MF distributors in 3 years

Seven Indian Asset Management Companies (AMCs) have tied up with the National Stock Exchange (NSE) and the Center for Investment Education and Learning (CIEL) to create 50,000 mutual fund distributors in the next three years in the country. Under this, a new online skilling platform “Expert MDF” was launched on Tuesday. Aditya Birla Sun Life MF, Axis MF, ICICI Prudential MF, L&T MF, Nipan India MF, SBI MF, and Sundaram MF are among the AMCs to be involved in this initiative. Presently the presence of mutual fund distribution in the country is very low. There is only one mutual fund distributor for every 17,000 potential investors.

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