Listen to this article
Associate distributors contribute 7% or Rs. 2.88 lakh crore to the total assets of the top 30 fund houses. These fund houses collectively manage Rs. 39.86 lakh crore as on March 2023.
Associate distributors are group companies and banking channels that understandably promote the products of their group AMC.
In absolute terms, SBI MF receives the highest contribution of Rs. 1.44 lakh crore and is the only fund house to have over Rs. 1 lakh crore of associate assets.
ICICI Prudential MF and Axis MF follow SBI MF with assets of Rs. 38,396 crore and Rs. 27,187 crore, respectively. Next are HDFC MF and Kotak MF with an associate asset share of Rs. 26,223 crore and Rs. 10,843 crore, respectively.
In percentage terms, NJ MF (91%), IDBI MF (49%), Union MF (44%), Baroda MF (33%), and IIFL MF (26%) are the top five fund houses in terms of associate assets.
Fund houses who do not have associate distributors are Nippon India MF, Franklin Templeton MF, PGIM India MF, PPFAS MF and quant MF and hence have no associate assets.
Share of associate distributors
|
Fund House |
Monthly AAUM |
Share of Associate Distributors |
% |
|
SBI |
7,04,886 |
1,43,682 |
20.38% |
|
ICICI Prudential |
4,94,117 |
38,396 |
7.77% |
|
Axis |
2,37,185 |
27,187 |
11.46% |
|
HDFC |
4,45,168 |
26,223 |
5.89% |
|
Kotak |
2,89,424 |
10,843 |
3.75% |
|
Aditya Birla Sun Life |
2,67,523 |
8,657 |
3.24% |
|
Baroda BNP Paribas |
24,272 |
8,131 |
33.50% |
|
Canara Robeco |
62,097 |
5,568 |
8.97% |
|
Union |
9,820 |
4,333 |
44.12% |
|
NJ |
4,175 |
3,786 |
90.67% |
|
UTI |
2,34,614 |
2,588 |
1.10% |
|
IDBI |
3,603 |
1,759 |
48.82% |
|
IIFL |
4,654 |
1,231 |
26.45% |
|
Motilal Oswal |
29,554 |
1,200 |
4.06% |
|
Sundaram |
44,011 |
1,190 |
2.70% |
|
Tata |
98,860 |
1,076 |
1.09% |
|
LIC |
17,668 |
771 |
4.36% |
|
Edelweiss |
1,01,751 |
348 |
0.34% |
|
Bandhan (Erstwhile IDFC) |
1,14,339 |
296 |
0.26% |
|
HSBC |
82,445 |
247 |
0.30% |
|
Mahindra Manulife |
9,691 |
114 |
1.17% |
|
DSP |
1,11,729 |
20 |
0.02% |
|
Invesco |
45,273 |
19 |
0.04% |
|
ITI |
3,720 |
10 |
0.28% |
|
Mirae Asset |
1,15,275 |
4 |
0.00% |
|
Nippon India |
2,92,873 |
- |
0.00% |
|
Franklin Templeton |
62,208 |
- |
0.00% |
|
PGIM India |
21,379 |
- |
0.00% |
|
PPFAS |
34,658 |
- |
0.00% |
|
quant |
19,507 |
- |
0.00% |
|
Total |
39,86,480 |
2,87,677 |
7.22% |
* Figures in crore
Methodology of our analysis
We have considered the top 30 fund houses in terms of quarterly average total AUM as on March 2023. We have then taken the share of associate distributors from the monthly AAUM of these fund houses.
