The Association of Mutual Funds of India (AMFI), the industry lobby group for asset management companies, spent about 89% of the investor awareness and education fund expenses on media campaigns through digital platforms and an advertising agency, according to the organisation’s filings with the Ministry of Corporate Affairs (MCA).

AMFI is registered as a Section 8 company or a non-profit organisation with the MCA, and it is mandated that it file its annual returns.