India’s top 10 mutual fund distributors now manage 18% of industry’s total AUM, shows an analysis of AUM data available with a few AMCs.
This data shows that these distributors manages close to Rs.4.35 lakh crore as on January 2019. (Data for 5 AMCs which account for 5% of total AUM was not available).
In FY 2017-18, the top 10 distributors reported assets under advisory (AUA) of Rs. 3.89 lakh crore, indicating that the top MF distributors have already registered growth of 12% in first ten months of the current financial year.
HDFC Bank continue continued to hold the mantle of being the largest distributor in terms of AUA.
Interestingly, SBI Bank has overtaken NJ India and Axis Bank in terms of AUA. The PSU bank holds Rs.68,000 crore whereas NJ India holds AUA of Rs.61,930 crore. SBI Bank stood at fourth position in FY 2017-18.
Axis Bank is at fourth position in terms of AUA ranking with assets of Rs.48477 crore, followed by ICICI Bank (Rs.40964 crore) and Kotak Mahindra Bank (Rs. 36252 crore).
Assets under advisory of top 10 distribution as on January 2019
MF Distributor |
AUM as on January 2019 |
HDFC Bank Limited |
70,973.00 |
State Bank of India |
68,027.00 |
NJ IndiaInvest Pvt Ltd |
61,930.00 |
Axis Bank Limited |
48,477.00 |
ICICI Bank Limited |
40,964.00 |
Kotak Mahindra Bank Limited |
36,252.00 |
ICICI Securities Limited |
33,589.00 |
IIFL Wealth Management Limited |
29,187.00 |
Citibank N.A |
26,533.00 |
Prudent Corporate Advisory Services Ltd |
19,461.00 |
Total |
4,35,393.00 |