An analysis of quarterly data by Cafemutual shows that half of the total assets managed by top 25 fund houses has come from their non-associate distributors like individual MFDs and NDs.
Over 47% of their assets has come from non-associate distributors as on June 2021. The remaining 53% of the total assets has come from direct plans and associate distributors.
The data shows that HDFC MF enjoys the largest contribution of non-associate distributors in absolute terms. Of the total assets of Rs. 4.27 lakh crore, Rs. 2.03 lakh crore has come from non-associate distributors, which is 48% of its total assets.
ICICI Prudential MF (Rs. 2.00 lakh crore), Aditya Birla Sun Life MF (Rs. 1.36 lakh crore), UTI MF (Rs. 1.32 lakh crore) and Kotak Mahindra MF (Rs. 1.13 lakh crore) followed HDFC MF in terms of contribution from non-associate distributors.
Nippon India MF, SBI MF and Axis MF were the other three fund houses where the share of non-associate distributors exceeded Rs. 1 lakh crore.
In percentage terms, 12 fund houses derive more than 50% of their assets from MFDs and national distributors. Edelweiss MF garners 84% of its assets through non-associate distributors. Franklin Templeton MF (79%), BNP Paribas MF (76%), Sundaram MF (72%) and PGIM India MF (70%) have the next highest share. This is because these companies do not have associate distributors.
Here is the contribution of non-associate distributors in the assets of the top 25 fund houses as on June 21. Figures mentioned are in crore.
|
Fund House |
AAUM through Non - Associate Distributors |
Total AAUM |
% |
|
SBI MF |
1,12,391 |
5,37,704 |
21% |
|
HDFC MF |
2,03,358 |
4,26,933 |
48% |
|
ICICI Prudential MF |
1,99,970 |
4,23,207 |
47% |
|
Aditya Birla Sun Life MF |
1,35,558 |
2,83,657 |
48% |
|
Kotak Mahindra MF |
1,13,184 |
2,53,437 |
45% |
|
Nippon India MF |
1,12,731 |
2,48,129 |
45% |
|
Axis MF |
1,00,103 |
2,18,638 |
46% |
|
UTI MF |
1,32,014 |
1,93,573 |
68% |
|
IDFC MF |
57,985 |
1,26,324 |
46% |
|
DSP MF |
66,689 |
1,04,823 |
64% |
|
Mirae Asset MF |
57,280 |
82,619 |
69% |
|
L&T MF |
44,695 |
76,708 |
58% |
|
Tata MF |
38,728 |
68,347 |
57% |
|
Franklin Templeton MF |
48,954 |
62,010 |
79% |
|
Edelweiss MF |
47,635 |
56,433 |
84% |
|
Invesco MF |
21,813 |
39,732 |
55% |
|
Canara Robeco MF |
22,619 |
35,201 |
64% |
|
Sundaram MF |
23,581 |
32,683 |
72% |
|
Motilal Oswal MF |
13,122 |
27,839 |
47% |
|
LIC MF |
8,214 |
18,364 |
45% |
|
PPFAS MF |
4,519 |
12,629 |
36% |
|
HSBC MF |
2,252 |
10,866 |
21% |
|
Baroda MF |
1,309 |
10,453 |
13% |
|
BNP Paribas MF |
6,385 |
8,447 |
76% |
|
PGIM India MF |
6,179 |
8,830 |
70% |
|
Total |
15,81,266 |
33,67,584 |
47% |
