Mutual funds cheer move to allow celebrity endorsements

Industry body Amfi to hold meeting to decide on road map

Mutual funds have welcomed the regulator’s decision to allow celebrity endorsements. The Association of Mutual Funds in India (Amfi) is planning to come up with a road map soon. Just like other financial products, such as banking, insurance, and home loans, mutual funds will be able to rope in big stars to create awareness and increase reach of their offerings.
 
Celebrity endorsement was a long-standing demand of Amfi, a move that faced resistance due to fears of mis-selling.
 
However, with strict rules in place to prevent mis-selling, industry players say the latest move will help improve their reach,