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The top 25 fund houses drive 49% of their MF business from non-associate distributors like MFDs and NDs, shows an analysis of AUM details. As on December 2022, of the total Rs. 40.32 lakh crore, non-associate distributors manage Rs. 19.56 lakh crore.
With a share of Rs. 17.89 lakh crore and Rs. 2.86 lakh crore, direct plans and associate distributors manage 44% and 7%, respectively.
Fund house-wise non-associate average AUM
HDFC MF has the largest non-associate average AUM of Rs. 2.43 lakh crore. Notably, this forms 53% of the fund house’s total assets. With an almost similar asset base (Rs. 2.34 lakh crore), ICICI Prudential MF takes the next spot.
UTI MF (Rs. 1.74 lakh crore), SBI MF (Rs. 1.49 lakh crore) and Aditya Birla Sun Life MF (Rs. 1.41 lakh crore) follow next.
Apart from these top five, three more fund houses namely - Kotak MF, Nippon India MF and Axis MF manage over Rs. 1 lakh crore of non-associate average AUM.
In percentage terms, 14 fund houses derive more than 50% of their assets from national distributors like MFDs and NDs. With an 80% share in the total average AUM, Franklin Templeton MF takes the lead here. Edelweiss MF (79%), Sundaram MF (77%), UTI MF (72%), and Canara Robeco MF (70%) have the next highest share.
* Figures in crore
