The mutual fund industry added 7,846 new distributors in the calendar year 2017. As a result, the number of total individual ARN distributors was at 75,866 as on August 2017, shows AMFI data.
Swarup Mohanty, CEO, Mirae Asset Mutual Fund says that growing popularity of mutual funds has attracted many people to opt mutual fund distribution. “Distributors can expect better revenue from mutual fund distribution considering its growing demand. The industry has been witnessing continues growth in the number of folios and SIPs. Moreover, as a majority of distributors work under trail model, only serious distributors have been entering the profession which is a healthy sign,” says Swarup.
The data shows that the total number of mutual fund distributors registered with AMFI including non-individual ARN holders increased by 9684 to 92,565 in 2017.
If we include EUIN holders (employees of distribution firms), the total number of distributors goes up to 2.02 lakh, as on August 2017. It went up by 35,533 from 1.67 lakh in December 2016. “Increase in EUIN number does not indicate that these employees are active since many employees left the distribution after initial months,” says Ashutosh Bishnoi, CEO, Mahindra Mutual Fund.
Of the 75,866 individual ARN holders, 38,593 or 51% are from B15 cities and 37,273 are from the T15 cities.
|
Category |
August-end |
December-end |
Difference |
|
Individual ARN |
75,866 |
68,020 |
7,846 |
|
EUIN holders |
116,735 |
90,229 |
26,506 |
|
Total |
1,92,601 |
1,58,249 |
34,352 |
Source: AMFI
