India's top 20 regular plan distributors bring in 37% of the total monthly SIP inflows, according to MFDex data. Of the total Rs 8,596 crore SIP inflow in April, these distributors together account for Rs 3,179 crore.
NJ India, which continues to firmly sit at the top of the table, has alone brought business of Rs 703 crore. This is 8% of the total SIP inflow in April.
State Bank of India is a distant second with Rs 471 crore contribution. ICICI Securities, Prudent Corporate Advisory and HDFC Bank take the next three spots.
In terms of SIP count, SBI is marginally ahead of NJ India with 25.7 lakh SIP transactions in April.
The top five list (as per SIP amount) has seen only one change since January. Prudent Corporate Advisory has risen to the fourth spot from sixth with 22% growth in contribution. The previous fourth-ranked distributor ICICI Bank has slipped to the sixth spot.
Groww continues to be the only online direct plan distributor in the top-10 list. The online distributor occupies the eighth spot with Rs 143 crore SIP inflows in April. However, the online distributor is much ahead in terms of SIP count. With over 10 lakh transactions, the company occupies the third spot only after SBI and NJ India.
SIP data of other online direct plan distributors Patym Money and ET Money also present a similar picture —high SIP count but comparatively low amount.
Interestingly, Sapient Wealth is the only distribution firm run by individual MFDs in the top 25 list. The distribution firm has a monthly SIP book of Rs 30 crore.
*All amount are in Rs crore, except for SIP count and rankings
*Green means rise in ranking, red denotes decline (rankings are as per SIP amount)
Zerodha Coin has not found a place in the list as the SIP it offers is technically not an SIP. "At Zerodha, we simulate SIPs. All our transactions (including SIPs) are essentially lumpsum orders," informed a Zerodha employee.
PS: MFDex data does not includes figures from fund houses like Invesco and Canara Robeco.
