AMFI data analysis of top 20 schemes largest schemes shows that 16% of the assets of these schemes has come through direct plan as on December end. This is in line with the industry average of 16% assets coming through the direct route.
For the purpose of this analysis, we have included all pure equity, ELSS and hybrid category of funds. Arbitrage and ETF funds have been excluded from the list.
Scheme-wise, Motilal Oswal Multicap 35 Fund (39%), HDFC Equity Fund (31%) and SBI Bluechip Fund (26%) top the list with the highest direct AUM in % terrms.
Other schemes having over 20% of their assets in direct plans are Aditya Birla Sun Life Frontline Equity Fund, ICICI Prudential Bluechip Fund, Kotak Standard Multicap Fund Regular Plan and Franklin India Equity Fund.
Meanwhile, SBI Equity Hybrid Fund (4%), Reliance Equity Hybrid Fund (6%) and HDFC Balanced Advantage Fund (7%) have the least amount of assets invested under direct plan. Moreover, three of the biggest schemes in terms of AUM (HDFC Balanced Advantage Fund (7%), ICICI Prudential Balanced Advantage Fund (9%) and SBI Equity Hybrid Fund (4%) have direct assets below 10%.
Direct plans have been launched in 2013. In a span of six years these 20 schemes have managed to get direct inflows of Rs.62,000 crore, a significant amount. The growth in online digital platforms and RIAs may have helped in the growth of direct assets.
Direct AUM of Top 20 schemes
Source: AMFI
