ARN renewal goes up in pandemic year

Despite nationwide lockdown, the MF industry recorded a positive though marginal growth in ARN renewals.

The industry has witnessed renewal of 20,709 ARNs in FY 2020-21 compared to 20,606 ARNs in FY 2019-20. The marginal growth has come despite complete lockdown in April and May across the country when a little over 800 ARNs were renewed.

The renewal number started picking up since June after the launch of eCPE by NISM. eCPE is NISM’s Continuing Professional Education (CPE) program delivered in online mode. In a conventional CPE, participants are required to physically visit the CPE venue and attend a full-day training program. With eCPE, candidates can access the training program from their home/office at their convenience.

ARN holders from T-30, B-30 cities

AMFI data shows that 46% of the individual distributors has come from B30 cities as of March 2021. Of the 94,510 registered individual distributors, 43,823 has come from B30 cities while the remaining 50,687 or 54% distributors were from T30 cities.

B30 cities have added 3,405 new individual MFDs while T30 cities saw an addition of 3,475 new MFDs under individual category in the last one year.

State wise ARN registration

Maharashtra continues to be the top state to add the highest number of new MFDs/EUIN in the industry. Maharashtra accounts for 25% of the new ARN and EUIN registrations, shows the latest AMFI data on geographical spread of the new ARN holders as on March 2021.

Meanwhile, Gujarat and Uttar Pradesh have secured second and third position in terms of bringing in new distributors in the industry. Gujarat and Uttar Pradesh have contributed 12% and 8% new distributors, respectively. The top three states collectively contribute over 45% of the new ARN and EUIN registrations.