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  • MF News India’s top 10 distributors hold 18% of industry’s total AUM

    India’s top 10 distributors hold 18% of industry’s total AUM

    While HDFC Bank continue to be a largest distributor in terms of assets, SBI Bank has overtaken NJ India and Axis Bank to become the second largest distributor.
    Team Cafemutual Feb 21, 2019

    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

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    7 Comments
    Subhash Khemani · 5 years ago `
    Banks should be banned for selling mutual funds and life insurance. All the consultants to gather should raise the voice in front of AMFI , SEBI and IRDAI. This will create the career opportunities as well for new advisors who wish to join this industry.
    Pulkit · 5 years ago
    Yes
    Dinesh Singh Kushwaha · 4 years ago
    Banks have made a mockery of Mutual Funds. They working is like guidance by a blind person.
    Reply
    Dhanesh Bhagwat · 5 years ago `
    With TER rationalization, bank will not promote MFs aggressively. They will prefer Insurance rather than MF.
    ARUN SRINIVAS SHENOY · 5 years ago `
    THIS SHOWS THAT BANKS INSTEAD OF PROMOTING THEIR OWN PRODUCTS i.e. FIXED DEPOSITS, TERM DEPOSITS ETC PROMOTE MUTUAL FUND PRODUCTS TO EARN BROKERAGE AND COMMISSION AND SHORE UP THEIR EARNINGS. ALSO IS IT NOT A CONFLICT OF INTEREST WHEN THEY PROMOTE MF PRODUCTS OF MFs PROMOTED BY THEIR OWN PARENT COMPANIES OR THEM SELVES
    IN FACTS MOST EMPLOYEES IN BANKS HAVE A TARGET TO GET INVESTMENTS IN MFs AND REMAIN KEEN TO DO THIS ACTIVITY RATHER THAN BANKING ACTIVITY
    Fauzan Ansari · 5 years ago `
    Some banks have own AMC. So no need to sell mf that banks. Like SBI, HDFC, ICICI, Axis, BoB, IDBI, Yes, etc. SEBI should ban on these banks for selling mf.
    Piyush Trevadia · 5 years ago
    All ifa should write latter to sebi to stop selling mutual funds and insurance by banks. I already wrote.
    Reply
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