CURRENT AFFAIRS

Detailed explanation-1: -A Balasubramanian, MD & CEO of Aditya Birla Sun Life Mutual Fund, has been re-elected as the Chairperson of Association of Mutual Funds in India (AMFI), at the recent Board Meeting of AMFI post the 27th AGM held in September 2022.

Detailed explanation-2: -Vishal Kapoor, Chief Executive Officer, IDFC Asset Management, has been re-elected as the Chairman of AMFI Committee of Certified Distributors (ARN Committee).

Detailed explanation-3: -The trustees appoints the AMC which manages the assets of a mutual fund. The trustees also appoint a custodian for safe-keeping of scheme assets. The main role of the trustee is to ensure that the interest of the investors are protected.

Detailed explanation-4: -The Association of Mutual Funds in India (AMFI) is dedicated to developing the Indian Mutual Fund Industry on professional, healthy and ethical lines and to enhance and maintain standards in all areas with a view to protecting and promoting the interests of mutual funds and their unit holders.