Just three states, Maharashtra, Tamil Nadu and Gujarat account for over 51% of the distributors in the mutual fund industry.
Maharashtra holds the top position in terms of new ARN and EUIN registration. The state accounts for 32% of the new ARN registration, shows recent AMFI data on geographical spread of the new ARN holders for the period April-September 2019.
Since Maharashtra is the commercial hub of India, the state has added highest number of new ARNs and particularly EUINs through corporate employees, said experts.
Tamil Nadu and Gujarat followed Maharashtra for second and third positions respectively. Both Tamil Nadu and Gujarat have contributed 11% and 8% of the new distributors.
In April-September 2019, the industry added close to 20,029 new distributors, of which 11026 are individuals and 9003 are corporate employees. A rough calculation shows that Maharasthra has added 6400 new ARN and EUINs. Similarly, Tamil Nadu and Gujarat have added 2200 and 1600 new ARNs and EUINs respectively.
AMFI data further shows that 40% of overall registration were from B30 towns.
