NISM-Series V-A: Mutual Fund Certification Exam Notes
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SEBI (Mutual Funds) Regulation, 1996 requires all Asset Management Companies and Trustees to abide by the Code of Conduct as specified in the Fifth Schedule to the Regulation. The AMFI Code has been drawn up to supplement that schedule.
While the SEBI Code of Conduct lays down broad principles, the AMFI Code of Ethics (ACE) sets more explicit standards for AMCs and Trustees.
AMFI has also framed a set of guidelines and code of conduct for intermediaries (known as AMFI Guidelines & Norms for Intermediaries (AGNI)), consisting of individual agents, brokers, distribution houses and banks engaged in selling of mutual fund products.
2 documents for understanding about the mutual fund scheme: a) Scheme Information Document (SID), which has details of the particular scheme b) Statement of Additional Information (SAI), which has statutory information about the mutual fund or AMC, that is offering the scheme.
A single SAI is relevant for all the schemes offered by a mutual fund.
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