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HDFC Bank and ICICI Securities are among the top five distributors of top five fund houses — SBI MF, HDFC MF, ICICI Prudential MF, ABSL MF and Kotak Mahindra MF. The two distributors received gross commissions worth Rs. 370 crore and Rs. 200 crore, respectively from the five fund houses, shows an analysis of commission disclosures released by fund houses.
NJ IndiaInvest and Prudent Corporate Advisory Services are other distributors who feature in the top five distributor list of at least four fund houses.
The commissions to the top five distributors range between 35-70% of the total commission outgo towards top distributors. For example, the top five distributors of SBI MF received Rs. 963 crore in FY 2022, which is 70% of the total gross commission outgo (Rs. 1,372 crore) of SBI MF towards top distributors. Of this, its associate distributor SBI cornered the biggest chunk at Rs. 712 crore.
In line with the overall growth in total commission payouts, the commission payments to these top distributors have risen significantly in FY 2022 as against FY 2021. For example, ICICI Prudential paid Rs. 241 crore to ICICI Bank as commission in the last financial year compared to Rs. 158 crore in FY 2021. A similar trend is visible across fund houses.
|
SBI |
|||
|
Name |
Commission |
Net Inflows |
AAUM |
|
State Bank of India |
712 |
15,860 |
1,19,793 |
|
NJ IndiaInvest |
140 |
1,349 |
12,259 |
|
Prudent Corporate Advisory |
40 |
767 |
4,086 |
|
ICICI Securities |
38 |
248 |
4,272 |
|
HDFC Bank |
33 |
1,176 |
4,988 |
|
ICICI Prudential |
|||
|
Name |
Commission |
Net Inflows |
AAUM |
|
ICICI Bank |
241 |
849 |
33,027 |
|
HDFC Bank |
79 |
1,335 |
12,092 |
|
ICICI Securities |
64 |
371 |
9,265 |
|
Darshan Services |
59 |
-4,442 |
9,050 |
|
Prudent Corporate Advisory Services |
49 |
227 |
5,683 |
|
HDFC |
|||
|
Name |
Commission |
Net Inflows |
AAUM |
|
HDFC Bank |
140 |
-1,193 |
23,385 |
|
NJ IndiaInvest |
110 |
-1,435 |
11,880 |
|
Prudent Corporate Advisory Services |
50 |
-116 |
6,507 |
|
ICICI Securities |
41 |
-513 |
6,814 |
|
IIFL Wealth Prime |
18 |
-506 |
6,043 |
|
ABSL |
|||
|
Name |
Commission |
Net Inflows |
AAUM |
|
NJ IndiaInvest |
99 |
119 |
7,975 |
|
HDFC Bank |
45 |
1,838 |
6,622 |
|
Prudent Corporate Advisory Services |
42 |
114 |
4,101 |
|
Axis Bank |
24 |
254 |
2,150 |
|
ICICI Securities |
21 |
-130 |
2,993 |
|
Kotak Mahindra |
|||
|
Name |
Commission |
Net Inflows |
AAUM |
|
NJ IndiaInvest |
130 |
1,584 |
9,696 |
|
Kotak Mahindra Bank |
80 |
328 |
10,538 |
|
HDFC Bank |
74 |
864 |
9,455 |
|
Darshan Services |
42 |
-786 |
6,462 |
|
ICICI Securities |
35 |
406 |
3,533 |
*All numbers are in Rs crore
