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Non-associate distributors like MFDs and NDs account for 67% of growth/equity-oriented average AUM, shows an analysis of monthly average AUM data of the top 30 fund houses done by Cafemutual.
Of the total equity assets of Rs.16.16 lakh crore of the top 30 fund houses, MFDs and NDs bring in equity assets of Rs.10.82 lakh crore.
On the other hand, direct plans account for 24% or Rs. 3.95 lakh crore and associate distributors have a modest share of 9% or Rs. 1.39 lakh crore in the total equity assets.
In March 2021, non-associate distributors, direct plans and associate distributors account for 69%, 22% and 9% of the total equity AAUM, respectively. This indicates that the share of direct plans has increased in a year.
* Figures mentioned above are Rs in crore
Fund house wise details
As on March 2022, 8 fund houses receive over 80% of their equity assets from MFDs and NDs. These include Mahindra Manulife MF (96%), Sundaram MF (86%), LIC MF (84%), Franklin Templeton MF (82%), IDFC MF (82%), Nippon India MF (82%), L&T MF (81%) and Invesco MF (80%).
In absolute terms, ICICI Prudential MF (Rs. 1.30 lakh crore), HDFC MF (Rs. 95,870 crore), Nippon India (Rs. 92,537 crore), Kotak Mahindra MF (Rs. 89,074 crore), Axis MF (Rs. 83,579 crore), Aditya Birla Sun Life MF (Rs. 76,559 crore), SBI MF (Rs. 70,494 crore) and UTI (Rs. 64,234 crore) receive the highest contribution from MFDs and NDs.
* Figures mentioned above are Rs in crore
Here is a detailed break-up of the top 30 fund houses’ equity AAUM.
* Figures mentioned above are Rs in crore
*1 - Baroda MF and BNP Paribas MF formed ‘Baroda BNP Paribas MF’ in Mar 2022
*2 - NJ MF currently has its presence in the hybrid space
