Listen to this article
State Bank of India is the top distributor as per AMFI latest data. The country’s largest bank reports an average AUM of Rs 1.44 lakh crore for FY 2022-23, 17% more than FY 2021-22.
With a 13% growth, NJ IndiaInvest’s average AUM increased to Rs 1.24 lakh crore and it occupies the second spot.
Notably, these are the only two distributors with assets of over Rs 1 lakh crore.
However, HDFC Bank is not far away as it manages the third-largest average AUM of Rs. 96,729 crore. Following behind are Axis Bank and Prudent Corporate Advisory Services with an average AUM of Rs 69,697 crore and Rs 53,164 crore, respectively.
The above five distributors also report the highest annual growth in absolute terms.
In percentage terms, eight distributors reflect a double-digit growth. These are Axis Bank (30%), Anand Rathi Wealth (21%), HDFC Securities (19%), State Bank of India (17%), Prudent Corporate Advisory Services (17%), HDFC Bank (15%), NJ IndiaInvest (13%) and Deutsche Bank AG (12%).
Here is how the average AUM data of these and other top distributors looks like.
|
No |
Name |
AAUM (Rs in crore) |
Change |
||
|
FY 2022-23 |
FY 2021-22 |
Absolute |
Percent |
||
|
1 |
State Bank of India |
1,44,301 |
1,23,801 |
20,500 |
17% |
|
2 |
NJ IndiaInvest |
1,24,025 |
1,09,296 |
14,729 |
13% |
|
3 |
HDFC Bank |
96,729 |
84,455 |
12,274 |
15% |
|
4 |
Axis Bank |
69,697 |
53,466 |
16,231 |
30% |
|
5 |
Prudent Corporate Advisory Services |
53,164 |
45,625 |
7,539 |
17% |
|
6 |
ICICI Securities |
51,770 |
47,527 |
4,243 |
9% |
|
7 |
ICICI Bank |
50,447 |
47,683 |
2,764 |
6% |
|
8 |
Kotak Mahindra Bank |
40,693 |
38,606 |
2,087 |
5% |
|
9 |
HSBC |
22,421 |
21,035 |
1,386 |
7% |
|
10 |
Julius Baer Wealth Advisors |
20,851 |
20,007 |
844 |
4% |
|
11 |
Anand Rathi Wealth |
20,562 |
16,925 |
3,637 |
21% |
|
12 |
Standard Chartered Bank |
18,926 |
17,971 |
955 |
5% |
|
13 |
360 ONE Distribution Services (Erstwhile IIFL Wealth Distribution Services) |
17,080 |
* |
* |
* |
|
14 |
Aditya Birla Finance |
13,271 |
13,433 |
-162 |
-1% |
|
15 |
JM Financial Services |
12,009 |
12,052 |
-43 |
-0.4% |
|
16 |
Bajaj Capital |
11,936 |
11,367 |
569 |
5% |
|
17 |
360 ONE Prime (Erstwhile IIFL Wealth Prime) |
11,844 |
* |
* |
* |
|
18 |
Batlivala & Karani Securities India |
11,240 |
11,289 |
-48 |
-0.4% |
|
19 |
HDFC Securities |
10,816 |
9,076 |
1,740 |
19% |
|
20 |
Deutsche Bank AG |
10,668 |
9,535 |
1,134 |
12% |
* 360 ONE Distribution Services demerged from 360 ONE Prime, an NBFC on March 14, 2023 to form an exclusive distribution arm. The AAUM for 360 ONE Prime for FY 2021-22 is Rs 25,662 crore
These top 20 distributors collectively report average AUM of Rs 8.12 lakh crore for FY 2022-23 which forms 33% of the total average AUM under regular plan.
