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NISM Certifications · NISM-Series-V-A: Mutual Fund Distributors · Fund Distribution and Channel Management Practices

Which of the following must a person obtain before being allowed to sell mutual fund units as a distributor in India?

A mutual fund distributor must hold a valid AMFI Registration Number, which is granted after the person passes the NISM-Series-V-A Mutual Fund Distributors examination. Other licences such as stock broking, portfolio management or banking are not the prerequisite for selling mutual fund units.

  1. AA valid AMFI Registration Number (ARN) after passing the NISM-Series-V-A examinationCorrect
  2. BA stock broker licence from a recognised stock exchange
  3. CA portfolio manager registration from SEBI
  4. DA banking licence from the Reserve Bank of India

Explanation

Distributors of mutual fund units must hold a valid ARN issued by AMFI, which requires passing the NISM-Series-V-A certification (or an accepted equivalent). A broker licence, PMS registration or banking licence is not the qualifying requirement for distributing mutual funds.

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