Listen to this article
December 2023 average AUM numbers showcase the importance of non-associate distributors like MFDs and NDs in the MF ecosystem. An analysis of these numbers reveals that they contribute 49% or Rs 24.69 lakh crore to the total average AUM of the top 30 fund houses (in terms of December 2023 ranking) that manage assets of Rs 50.80 lakh crore.
A fund house wise analysis shows that HDFC MF gets the highest business in absolute terms (Rs 3.14 lakh crore) and is followed by ICICI Prudential MF (Rs 3.07 lakh crore). To note, these are the only two fund houses to have non-associate assets of over Rs 3 lakh crore each.
UTI MF follows next with non-associate assets of Rs 2.06 lakh crore.
Further, five more funds derive over Rs 1 lakh crore each from MFDs and NDs.
These are SBI MF (Rs 1.88 lakh crore), Nippon India MF (Rs 1.88 lakh crore), Kotak MF (Rs 1.79 lakh crore), Aditya Birla Sun Life MF (Rs 1.59 lakh crore) and Axis MF (Rs 1.22 lakh crore).
Next, on their path to Rs 1 lakh crore are Mirae Asset MF (Rs 98,932 crore) and Edelweiss MF (Rs 90,808 crore) who receive the ninth and ten-largest contribution in absolute terms.
What is the contribution in percentage terms?
Of the top 30 fund houses, 16 receive 50% or more of their business from MFDs and NDs.
Mahindra Manulife MF (83%), WhiteOak Capital MF along with Franklin Templeton MF (80% each), Sundaram MF (77%), Edelweiss MF (76%) and UTI MF (72%) are the top five.
Likewise, PGIM India MF (70%), Canara Robeco MF (69%), Mirae Asset MF (64%), DSP MF (62%) and Motilal Oswal MF (58%) are the next top five names.
Here is how the contribution of MFDs and NDs stands across fund houses. Figures mentioned are in crore.
|
Sr No |
Mutual Fund |
Non-Associate Avg AUM |
Total Monthly Avg AUM |
Non-Associate as a % of Total |
|
1 |
HDFC (3) |
3,14,351 |
5,74,415 |
55% |
|
2 |
ICICI Prudential (2) |
3,06,709 |
6,39,974 |
48% |
|
3 |
UTI (7) |
2,05,607 |
2,84,835 |
72% |
|
4 |
SBI (1) |
1,88,422 |
8,80,143 |
21% |
|
5 |
Nippon India (4) |
1,87,972 |
3,93,958 |
48% |
|
6 |
Kotak (5) |
1,78,890 |
3,62,441 |
49% |
|
7 |
Aditya Birla Sun Life (6) |
1,58,563 |
3,17,642 |
50% |
|
8 |
Axis (8) |
1,21,914 |
2,65,609 |
46% |
|
9 |
Mirae Asset (9) |
98,932 |
1,54,729 |
64% |
|
10 |
Edelweiss (13) |
90,808 |
1,20,228 |
76% |
|
11 |
DSP (10) |
87,155 |
1,40,750 |
62% |
|
12 |
Tata (11) |
71,928 |
1,38,854 |
52% |
|
13 |
Franklin Templeton (16) |
66,052 |
82,769 |
80% |
|
14 |
Bandhan (12) |
61,562 |
1,29,493 |
48% |
|
15 |
Canara Robeco (15) |
57,006 |
83,029 |
69% |
|
16 |
HSBC (14) |
55,790 |
1,05,538 |
53% |
|
17 |
Sundaram (19) |
41,007 |
53,363 |
77% |
|
18 |
Invesco (17) |
37,616 |
66,431 |
57% |
|
19 |
Motilal Oswal (21) |
23,786 |
40,795 |
58% |
|
20 |
quant (20) |
21,780 |
45,498 |
48% |
|
21 |
PPFAS (18) |
21,095 |
57,091 |
37% |
|
22 |
PGIM India (24) |
16,257 |
23,367 |
70% |
|
23 |
Mahindra Manulife (25) |
13,778 |
16,538 |
83% |
|
24 |
LIC (23) |
11,783 |
27,049 |
44% |
|
25 |
Baroda BNP Paribas (22) |
10,996 |
33,201 |
33% |
|
26 |
Union (26) |
5,740 |
13,869 |
41% |
|
27 |
WhiteOak Capital (28) |
5,688 |
7,126 |
80% |
|
28 |
360 ONE (27) |
3,171 |
8,334 |
38% |
|
29 |
Bank of India (30) |
2,366 |
6,111 |
39% |
|
30 |
Bajaj Finserv (29) |
2,291 |
6,686 |
34% |
|
Grand Total |
24,69,017 |
50,79,868 |
49% |
|
Notes
* We have collated and reviewed the data of fund houses occupying the top 30 spots in December 2023 rankings. Click here to view the ranking
* Fund houses are serially mentioned in the order of December 2023 non-associate assets
* Numbers mentioned in brackets are December 2023 rankings
