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MFDex data, which covers 96% of the total industry AUM reveals that individual MFDs and NDs account for 35% of the total MF assets.
However, their proportionate share declined due to a host of factors like emergence of direct plans and segregation between advisory and distribution activity.
The report shows that MFDs occupied 24% of the industry assets in 2010 and held a similar share in 2015. Though the share slightly dipped in June 2022, they continued to hold over 20% in the MF assets.
Sharing his views at Cafemutual Confluence 2022, Anuj Kumar, MD, CAMS said that despite the upheavals, the small to medium distributors have held their share over a long period of time and there is no reason for the trends to change further.
However, the share of national distribution weakened from 36% in 2010 to 14% in June 2022.
Also, there is no denial about the rise in the contribution of direct plans. Their AUM share jumped from 12% in 2010 to 43% in June 2022.
Here is how the share of industry participants changed over time.
*AUM in Rs lakh crore
** Source: CAMS MFDEx which represents 96% as at June 2022 industry AUM
