A. Balasubramanian, CEO, Aditya Birla Sun Life MF in a press conference today shared their plan to activate new distributors such that the distributor fraternity grows from the current 1.3 lakh to five lakh over the next few years. According to Balasubramanian, strengthening the distribution fraternity will help increase the overall reach of the mutual funds industry.
To strengthen the distributor community, Aditya Birla Sun Life MF is running distributor engagement programs throughout the country. In these events, the company shares actionable ideas with existing distributors to motivate them to increase their business.
The fund house also reaches out to insurance agents who would like to distribute mutual funds. They are also targeting postal agents, retired teachers, retired government and semi-government officials who can sell simple schemes as defined by SEBI.
The fund house also has a dedicated team, which works on increasing distributor engagement and activating new distributors.
The fund house also plans to increase their footprint in all the 542 Lok Sabha constituencies from 260 locations at present. Balasubramanian, feels that having a ground level staff in every market lets them tap more retail investors. It also allows them to develop the distributor base in the region.
They are planning to activate 40 locations every year. Out of the total 542 locations, some will be virtual locations as the company will have an employee in the market but no physical branch.