Top 20 fund houses which manage over 96% assets of the MF industry get 48% of their business from non-associate distributors.
As of January this year, the AAUM of the top 20 fund houses stood at Rs 27.22 lakh crore. Of this, nearly 48% or Rs 13.11 lakh crore of AAUM has come through non-associate distributors. The rest 52% assets have come through direct plan and associate distributors.
Roughly put, associate distributors are those distributors who share parentage with the AMCs. For instance, HDFC Bank/SBI/ICICI Bank/Axis Bank are considered as associate distributors of HDFC AMC/SBI MF/ICICI Pru AMC/Axis MF respectively; similarly, Aditya Birla Capital is an associate distributor of Aditya Birla Sun Life Mutual Fund.
Non-associate distributors include national distributors and individual MFDs working on their own without sharing parentage with any AMCs.
Among fund houses, HDFC MF has emerged as the top company in bringing AUM through non-associate distributors. Recent data shows that Rs.1.97 lakh crore or 50% of HDFC MF’s total AAUM in January has come through non-associate distributors.
Next in the list is ICICI Prudential MF which has accumulated Rs 1.71 lakh crore, 46% of ICICI Prudential’s total AAUM in January via non-associate distributors.
The third largest fund house in this list is Aditya Birla Sun Life MF. Of its Rs 2.59 lakh crore AAUM in January, Rs 1.29 lakh crore or nearly 50% has come from non-associate distributors.
Apart from these fund houses, there were 2 others - Nippon India and UTI - which have more than Rs 1 lakh crore AAUM coming via non-associate distributors.
Here are a few more interesting facts.
Among the top 20 fund houses in terms of assets, LIC MF relies the most on non-associate distributors with nearly 87% of its AAUM coming via non-associate distributors. LIC MF does not have a captive distribution network.
As many as 13 fund houses accumulate more than 50% of their total AAUM through non-associate distributors.
|
Fund house |
AAUM via non-associate distributors (in Rs crore) |
Total AAUM (in Rs crore)
|
Share of non-associate distributors (in %) |
|
HDFC |
197,550.79 |
388,112.11 |
51% |
|
ICICI Pru |
170,661.03 |
368,437.10 |
46% |
|
ABSL |
129,402.87 |
259,188.76 |
50% |
|
Nippon India |
114,533.31 |
210,025.65 |
55% |
|
UTI |
103,818.31 |
161,590.88 |
64% |
|
FT |
89,242.64 |
126,997.10 |
70% |
|
SBI |
83,869.36 |
383,028.14 |
22% |
|
Kotak |
80,062.42 |
192,925.11 |
41% |
|
Axis |
56,856.99 |
139,229.17 |
41% |
|
DSP |
49,477.65 |
83,123.64 |
60% |
|
IDFC |
48,944.72 |
106,922.69 |
46% |
|
L&T |
45,310.86 |
74,917.68 |
60% |
|
Mirae Asset |
31,727.01 |
44,253.13 |
72% |
|
Tata |
29,391.11 |
57,493.23 |
51% |
|
Sundaram |
21,263.06 |
33,069.12 |
64% |
|
Edelweiss |
18,839.73 |
24,423.77 |
77% |
|
Invesco |
13,073.73 |
27,009.86 |
48% |
|
Canara Robeco |
12,921.70 |
18,071.04 |
72% |
|
Motilal Oswal |
12,127.33 |
20,967.22 |
58% |
|
LIC |
1,799.15 |
2,070.90 |
87% |
|
Total |
13,10,873.77 |
27,21,856.30 |
48% |
