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Non-associate distributors like MFDs and NDs contribute Rs. 18.80 lakh crore to the total business of the top 25 fund houses (in terms of Sept 2022 quarterly average AUM). As on Sept 2022, the monthly average AUM of these fund houses is Rs. 39.36 lakh crore, of which 48% came through this channel.
An analysis of the fund house wise average AUM shows that HDFC MF, ICICI Prudential MF and UTI MF received Rs. 2.31 lakh crore, Rs. 2.25 lakh crore and Rs. 1.67 lakh crore from MFDs and NDs - the highest amongst other fund houses.
SBI MF and Aditya Birla Sun Life MF received the next highest assets of Rs. 1.43 lakh crore and Rs. 1.40 lakh crore, respectively.
In percentage terms, 15 fund houses received over 50% of their business from MFDs and NDs. Franklin Templeton MF, Edelweiss MF and Sundaram MF received the highest share of 80%, 79% and 79% respectively.
*Rs. in crore
Non - Associate Distributors Vs Direct Plans Vs Associate Distributors
Non-associate distributors contributed 48% to the total business of the top 25 fund houses, slightly higher than direct plans, which contributed 45% or Rs. 17.71 lakh crore.
On the other hand, associate distributors formed 7% or Rs. 2.85 lakh crore of the total monthly average AUM of these fund houses. Associate distributors include distributors who share parentage with the AMCs. For example, HDFC Bank and ICICI Bank are associate distributors of HDFC AMC and ICICI Prudential AMC.
