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MF News 5 out of 10 SIPs created by IFAs and NDs

5 out of 10 SIPs created by IFAs and NDs

CAMS data, which covers 67% of the industry’s AUM shows that IFAs and NDs have created 52% of the total SIPs in April-December 2018.
Nishant Patnaik Mar 14, 2019

IFAs and national distributors have created 52% of the total SIPs activated between April and December 2018, shows CAMS data that covers 67% of the industry AUM.

Of the different distributor categories, IFAs have created highest SIP accounts in April-December 2018. Of the total 45 lakh SIP accounts created in April-December 2018, IFAs have added 13.64 lakh SIP accounts i.e. 30% of the total new SIP accounts. While IFAs account for 30% share in the new SIP accounts in T30, they have created 32% SIPs in B30 locations.

Experts attribute this to increasing popularity of SIP drives among IFAs. In fact, quite a few IFAs have activated over 1500 SIPs in a single day using online platforms in the last few months.

NDs followed IFAs with 22% share in the new SIP accounts. The data shows that NDs have created 10 lakh new SIPs in the first nine months of the current financial year.

Meanwhile, banks account for 21% of the total SIP accounts with 9.77 lakh SIP accounts. While private banks have added over 5 lakh SIP accounts, their PSU counterparts have created 4.71 lakh new SIPs in April-December 2018.

Direct plans have added over 7 lakh new SIP accounts with 16% share in the total SIP accounts. Most direct plans account were added in T30 cities. The increased participation in SIPs through direct plans is largely due to emergence of online distribution such as Paytm Money, said experts.

Overall, the regular plans account for 84% of the total SIPs with 38 lakh such accounts in April-December 2018.

SIPs accounts created by distributor type April-December 2018

Distributor

T30

B30

Total

IFA

815717

548399

1364116

ND

683653

324509

1008162

PSU bank

221083

250755

471838

Other bank

310497

194368

504865

Regional distributor

68663

27779

96442

Others

214923

130624

345547

Direct

446461

263551

710012

Grand Total

2760997

1739985

4500982

 

Source: CAMS

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