The top five mutual fund companies in India together paid Rs.3,384 crore as gross commission to their top distributors in FY 2020-21. HDFC Bank and ICICI Securities got a good chunk of it by virtue of being major distributors for all the top five MFs — SBI MF, HDFC MF, ICICI Prudential MF, ABSL MF and Kotak MF.
HDFC Bank received gross commission of Rs.219 crore from these fund houses and a large portion of it (Rs. 92 crore) came from HDFC MF. ICICI Securities received commission of Rs.139 crore. ICICI Prudential MF was the highest contributor for ICICI Securities with gross commission of Rs.45 crore.
However, the last financial year was not rewarding for both the distributors. Their clients took out more money than they invested through them in the top four MFs. SBI MF, HDFC MF, ICICI Prudential MF and ABSL MF reported negative inflows from both the distributors.
The top five distributor data shows that SBI leads all other distributors in terms of gross commission with Rs.477 crore largely due to contribution from SBI MF. The bank has an AAUM of Rs.93,932 crore in SBI MF.
|
SBI MF |
|||
|
Name of the ARN Holder |
Commission paid in FY21 |
Net Inflows |
AAUM for FY21 |
|
State Bank of India (Sponsor) |
477.35 |
8,629.66 |
93,931.97 |
|
NJ IndiaInvest |
90.81 |
436.18 |
8,404.83 |
|
ICICI Securities |
25.60 |
-62.70 |
3,259.14 |
|
Prudent Corporate Advisory Services |
22.43 |
198.14 |
2,089.42 |
|
HDFC Bank |
18.09 |
-1,340.17 |
3,738.78 |
|
Total |
884.56 |
11,622.52 |
1,55,884.21 |
|
HDFC MF |
|||
|
HDFC Bank (Associate) |
91.90 |
-2,341.22 |
21,055.04 |
|
NJ IndiaInvest |
90.11 |
-1,775.79 |
10,089.55 |
|
Prudent Corporate Advisory |
33.81 |
-210.23 |
3,829.73 |
|
ICICI Securities |
31.24 |
-709.94 |
5,785.81 |
|
IIFL Wealth |
15.30 |
-2,236.73 |
6,361.90 |
|
**Total |
637.85 |
-12,811.26 |
1,31,983.65 |
|
ICICI Pru MF |
|||
|
ICICI Bank (S ponsor) |
158.00 |
-2841.69 |
26,942.49 |
|
Darshan Services |
50.72 |
9,598.37 |
8,700.78 |
|
ICICI Securities (Group Company) |
45.05 |
-353.12 |
7,040.53 |
|
HDFC Bank |
40.07 |
-1627.65 |
9,010.84 |
|
Axis Bank |
29.67 |
-808.12 |
4,104.83 |
|
Total |
826.12 |
1,306.24 |
1,51,773.02 |
|
ABSL MF |
|||
|
NJ IndiaInvest |
80.23 |
-898.10 |
6,608.42 |
|
Prudent Corporate Advisory |
28.70 |
-194.61 |
2,618.65 |
|
HDFC Bank |
20.95 |
-1,840.46 |
4,821.27 |
|
ICICI Securities |
16.00 |
-467.37 |
2,580.71 |
|
Axis Bank |
10.63 |
-317.96 |
1,462.05 |
|
Total |
441.15 |
-10,601.88 |
78,374.06 |
|
Kotak MF |
|||
|
NJ IndiaInvest |
82.60 |
542.42 |
6,287.55 |
|
HDFC Bank |
48.13 |
407.67 |
7,177.74 |
|
Darshan Services |
27.32 |
5,836.74 |
4,208.87 |
|
ICICI Securities |
21.23 |
372.42 |
2,334.17 |
|
Anand Rathi Wealth |
20.49 |
-107.21 |
2,165.39 |
|
Total |
594.23 |
12,353.22 |
80,218.78 |
*All numbers are in Rs crore
**The total is the aggregate of all mutual fund distributors and not just top 5 alone
