Maharashtra tops industry’s new ARN registration followed by Gujarat

Not just in terms of industry AUM, Maharashtra continues to lead the top spot in terms of addition of new mutual fund distributors too.

Maharashtra accounts for 20% of the new ARN and EUIN registrations, shows the latest AMFI data on geographical spread of the new ARN holders as on October 2020.

Maharashtra also accounts for the highest number of new ARNs and particularly EUINs through corporate employees as it is the commercial capital of India. Even in terms of AUM, Maharashtra contributes nearly 44% to the industry AUM.

Gujarat and Uttar Pradesh are in the second and third positions in bringing new distributors in the industry. Gujarat and Uttar Pradesh have contributed 10% and 8% new distributors. The top three states collectively contribute 39% of the new ARN and EUIN registrations.

In October, the industry has added 1,334 new ARNs, of which 453 were individual distributors. At the same time, 2,628 MFDs have renewed their ARNs, of which 1,565 were individual distributors.

As on October 2020, of the total 90,234 ARN holders, 54% or 48,676 operate from T30 cities while the remaining 46% or 41,558 are from B30 cities.

Overall, the mutual fund industry has over 2.32 lakh ARNs of which over 90,234 are individual distributors and 1.26 lakh are employees.

State-wise new ARN registration as on October 2020: