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An analysis of FY 2022-23 net inflows data of the top 20 distributors (based on gross commission) reveals that SBI has brought the highest net inflows of Rs 10,411 crore. NJ IndiaInvest follows next with net inflows of Rs 8,959 crore. The inflows here form 13% and 28% of their respective gross inflows.
HDFC Bank, Prudent Corporate Advisory Services and Anand Rathi Wealth are the next three names in the top-five list. They have infused net flows of Rs 5,509 crore, Rs 4,907 crore and Rs 2,232 crore, respectively to the industry. Among these, HDFC Bank has the lowest net to gross ratio of 6%. Prudent Corporate Advisory Services and Anand Rathi are comparatively stronger with a ratio of 25% and 19%, respectively.
However, of the top 20, five distributors - Citibank N.A, Julius Baer Wealth Advisors, IIFL Wealth Prime, ICICI Bank and Axis Bank witnessed net outflows.
Further analysis shows that HDFC Securities, NJ IndiaInvest, Geojit Financial Services, Prudent Corporate Advisory Services and Bank of Baroda are the only five distributors to have a net to gross ratio of over 20%. On the other hand, Bajaj Capital and Kotak Mahindra Bank report net to gross ratio of 1% each.
Overall, given the total net inflows of Rs 33,735 crore against Rs 4.22 lakh crore of gross inflows, the net to gross ratio of the top 20 distributors is 8%.
Here is the complete inflows data of the top 20 distributors (based on gross commission).
|
Distributor |
Gross Inflows (Rs in crore) |
Net Inflows (Rs in crore) |
Net to Gross Ratio |
|
State Bank of India |
81,466 |
10,411 |
13% |
|
NJ IndiaInvest |
31,576 |
8,959 |
28% |
|
HDFC Bank |
95,242 |
5,509 |
6% |
|
Prudent Corporate Advisory Services |
19,790 |
4,907 |
25% |
|
Anand Rathi Wealth |
11,728 |
2,232 |
19% |
|
ICICI Securities |
15,828 |
1,655 |
10% |
|
Bank of Baroda |
7,892 |
1,645 |
21% |
|
HDFC Securities |
4,040 |
1,424 |
35% |
|
Standard Chartered Bank |
6,820 |
592 |
9% |
|
Sapient Wealth Advisors And Brokers |
7,217 |
538 |
7% |
|
Geojit Financial Services |
1,848 |
458 |
25% |
|
HSBC |
9,836 |
458 |
5% |
|
Wealth India Financial Services |
2,141 |
258 |
12% |
|
Kotak Mahindra Bank |
26,195 |
253 |
1% |
|
Bajaj Capital |
2,700 |
26 |
1% |
|
Citibank N.A |
391 |
-467 |
-120% |
|
Julius Baer Wealth Advisors |
15,696 |
-474 |
-3% |
|
IIFL Wealth Prime |
22,561 |
-560 |
-2% |
|
ICICI Bank |
16,383 |
-924 |
-6% |
|
Axis Bank |
42,615 |
-3,164 |
-7% |
|
Total |
4,21,966 |
33,735 |
8% |
Disclaimer: Citi bank and Axis bank has been merged
