Meet this year’s top 30 individual MFDs of India

An analysis of AUM disclosure of the top distributors shows that the top 30 distributors manage assets of Rs.19,000 crore as on March 2023.

Pune’s Madhav and Gaurav Ganpule, Mumbai’s Ganesh Shanbag and Bangalore’s Manjula S are the three largest individual mutual fund distributors of the MF industry in FY 2023.

Madhav Ganpule is the largest individual MFD of India with AUM of Rs.1547 crore in FY 2023. His AUM grew by 9% from Rs.1425 crore in FY 2022. 

Ganesh Shanbhag holds the second position with AUM of Rs.1242 crore in FY 2023. He witnessed a 5% growth in AUM over the last one year.

Woman MFD Manjula S commands the third position in the MF industry with AUM of Rs. 1041 crore in FY 2023.

Mumbai’s Ranjan Panigrahi and Sadashiv Phene captured fourth and fifth spot, respectively. 

Among other top 10 MFDs as on March 2023 are Hari Kamat (Panaji, Goa), Mukund Seshadri (Mumbai), Jennifer Mendez (Mapusa, Goa), Rakesh Pasricha (New Delhi) and Mukesh Dokania (Kolkata).

In absolute terms, Ranjan Panigrahi, Mukund Sheshadri and Salil Kothari have witnessed highest growth in terms of AUM. While Ranjan has witnessed his assets increase by over Rs.320 crore, Mukund and Salil saw AUM growth of over Rs.120 crore each. 

In percentage terms, Ranjan (57%), Salil (31%) and Ramkumar Barchha (24%) are the top three distributors. 

Majority of top distributors are from Mumbai and Pune. Only four distributors – Hari Kamat (Panaji), Jennifer Mendez (Mapusa), Ramkumar Barchha and Rashmi Thukral made it to the top 30 list from non-metro cities. 

Also, 6 women MFDs made it to the top 30 – Manjula S (3rd), Jennifer Mendez (8th), Nonie Kapoor (22nd), Rashmi Thukral (27th), Zeenat Jagani (28th) and Preeti Kucheria (30th).

Let us look at the complete list of the top 30 MFDs: