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According to data presented by Mirae Asset Mutual Fund at the recently held Cafemutual Confluence 2023, individual MFDs manage 24% of the total MF AUM as on August 2023.
Such a contribution has increased from 14% in FY 2018-19 to 24% in FY Aug 2023, shows the data.
Of the total AUM of Rs.47 lakh crore as on August 2023, individual MFDs manage AUM of Rs.11.35 lakh crore. This data does not capture AUM of national distributors who have a sub-broking arm.
Makhdoom Ansari, National Head-Retail Sales, Mirae Asset MF told Cafemutual that the data captures 98% of the industry AUM. The share of individual MFDs could be more than 25% in reality.
The findings show that 185 MFDs manage assets of over Rs. 500 crore. Further, 1675 individual MFDs manage AUM in the range of Rs.100 crore – Rs.500 crore as on August 2023.
Majority of MFDs i.e. 1.14 lakh individual MFDs manage AUM of less than Rs.100 crore.
Interestingly, the report pointed out that top 185 MFDs follow asset allocation with 21% of their assets coming from pure debt funds i.e. debt funds other than liquid and overnight funds. Such a ratio was 16% for MFDs in the AUM range of Rs.100 crore – Rs.500 crore and 10% for rest of the MFDs.
Also, top 185 individual MFDs have close to 5% exposure to passives as against just 2% of individual MFDs having AUM of less than Rs.100 crore.
Here is the complete table released by Mirae Asset MF at Cafemutual Confluence 2023.
