AMC (Asset Management Company)
The SEBI-registered entity that runs mutual fund schemes.
Examples in India: HDFC AMC, Nippon India Mutual Fund, ICICI Prudential AMC, SBI Mutual Fund, Axis Mutual Fund. The AMC is the operating company; the trust holds the assets in custody. AMCs employ fund managers, charge expense ratios, and are regulated by SEBI under the Mutual Funds Regulations, 1996. When you buy an HDFC mutual fund directly via the HDFC AMC website or app, you avoid distributor commissions and get the lower 'direct' expense ratio.
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