AMFI Reports Download
Posted under case studies on May 29 , 2020 by Aniket Mahadik
The Association of Mutual Funds in India (AMFI) is dedicated to developing the Indian Mutual Fund Industry on professional, healthy and ethical lines and to enhance and maintain standards in all areas with a view to protecting and promoting the interests of mutual funds and their unit holders.
AMFI Reports are used to demonstrates the performance of all the schemes in each mutual fund . The fund managers and finance team require these AMFI Reports to analyze the performance and to know how all schemes are performing in the mutual fund to protect the interest of investors/unit holders.
The reports include overall returns (1Y, 3Y, 5Y, 10Y, Return since Launch), Daily AUM and Latest NAV (Both Direct and Regular) of all the schemes in that particular Fund.
Scope of the Problem:
The process was instituted by Finance Team of our AMC Client to monitor the daily performance of the Schemes for all the Mutual Fund. The Process involves downloading of reports for all the mutual fund present on the AMFI website to check the performance of their schemes and compare it with other mutual funds.
- Initially the user needs to visit to the AMFI website and provide all the necessary inputs on the website.
- To check the performance all the schemes in a particular fund the user need to pass parameters like Type of Fund (Open ended/ Close Ended), Category (Equity/Debt/Hybrid/Solution Oriented/Other) and depending upon the category selected the user need to enter the sub category (For eg: if user select Equity then subcategory consists of Large Cap/Large & Mid Cap/Multi Cap/Mid Cap/Small Cap/Value/ELSS/Contra/Dividend Yield/ Focused/ Sectoral Thematic) and Date.
- It becomes tedious job for the user to fill all the parameters and download the reports for all the mutual fund and make a consolidated report which contains performance of all schemes for all Mutual Funds.
- The manual effort required to download all the reports was substantial and would consume some productive hours of the employers.
- The Finance Department performs this task every day.
It is a repetitive and complex process, since it is based on multiple metrics related to Mutual Fund level. When it was being done manually, the report took 7-8 hours to just collate the data. This report is sent to everyone via email excel attachments hence it was visible to all.
Automating it with SheetKraft:
The team at SheetKraft with its expertise in automating business processes identified that this process has a logical structure and can be automated. Automation will drastically increase the process efficiency and reduce the time spent on this process.
- SheetKraft has capability to consume APIs (Application Programming Interface, which is a software intermediary that allows two applications to talk to each other). Consuming an API here means creating a client which can send requests to the API that you build which can handle Create, retrieve data of a resource.
- Using SheetKraft, we connect to API of other applications using HTTP Request methods
- Using HTTP Methods we fetch the data for the input (Date) given by the user and generate report for all mutual funds and consolidate all the reports in a single file internally using SheetKraft Functions.
- Once the Report are fetched it is stored in Database for further use.
- Automation of this process by SheetKraft, our client derived ~ 1 man-year annual savings.
- The digital setup for this Process has made it more flexible to use the report as it can be accessed easily through SheetKraft portal.
- Employees can go through their report and see the performance of all mutual funds at any point.
- Being able to track the performance of all mutual fund has a huge positive impact on the fund managers and finance team.