ICICI Prudential MF, HDFC MF and UTI MF get highest business from MFDs and NDs

Non-associate distributors like MFDs and NDs bring almost half of the business of top 25 mutual funds. Further, ICICI Prudential, HDFC and UTI get the highest share of this business. They together command a 34% share in the total non-associate AUM, shows an analysis of December AUM data published by fund houses.

Of ICICI Prudential's Rs. 4.60 lakh crore average monthly AUM, non-associate distributors have a 48% share (Rs. 2.23 lakh crore). HDFC sits at the second spot in the list with a non-associate AUM of Rs. 2.19 lakh crore. Third-placed UTI has the highest dependence on MFDs and NDs as it gets 70% of the business (Rs. 1.5 lakh crore AUM) through them.

ABSL, Kotak Mahindra, SBI, Nippon India and Axis come next in the list and are the only other fund houses with over Rs. 1 lakh crore non-associate AUM. SBI, which is the largest fund house, ranks sixth in the list as it gets 21% of the business through MFDs and NDs.

On the other hand, Franklin, Edelweiss and BNP Paribas have the highest dependence on MFDs and NDs. 78-80% of their business comes from non-associate distributors.

Overall, non-associate distributors have an AUM of Rs.17.7 lakh crore in the top 25 fund houses. This is 48% of their total AUM of 37 lakh crore.

Here’s a list of top 25 AMCs with their non-associate distribution AUM:

*All numbers are in Rs crore