While touching upon the future initiatives that need to be focused upon by the grouping, Puri emphasised that "trust and participation of Amfi members have been "greatly strengthened" in the last one year.
He also expressed satisfaction over Amfi's performance on distribution, ETF and investor education.
In a letter written to his colleagues, Puri has "urged the board to seriously pursue steps for strengthening the secretariat based on a clarified mission statement, streamline board governance, participation and tenures, reviewing long term funding plans and initiatives that can only strengthen the association."
"I have decided to hold to my stated views. I will therefore not participate in the election. I felt this should be communicated early enough so that there is enough time before the board meeting to plan a proper election and transition process," Puri said.
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"I also think it is best to have a cooling off period, and a past chairman continuing can sometimes cast a shadow, so will also step off the board soon thereafter," he added.
Puri, managing director of UTI Mutual Fund, had replaced Reliance MF chief executive Sundeep Sikka.
"A chairman's role is to interpret the pulse of our members, to build consensus on critical issues, and to resolve conflicts equitably. It is not to impose views, and I therefore did not wish to push the issue of our governance reform in the absence of such consensus," Puri said.