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Mutual fund distribution firm Prudent Corporate Advisory is now a listed firm on stock exchanges. The shares of the company got listed at a premium of nearly 5% on Friday.
Prudent has become the fourth advisory/MF distribution firm to get listed. IIFL Wealth, Anand Rathi Wealth and Wealth First Portfolio Managers are the other three.
In FY 2021, Prudent was the 6th largest mutual fund distributor in terms of commission earnings. The average AUM of the distributor during the previous financial year was Rs. 24,914 crore.
The company acts as an interface between AMCs and individual mutual fund distributors. Started in 2000, the distributor claims to have over 17,000 MFDs registered on its platform.
