SBI MF, ICICI Prudential MF, HDFC MF derive the highest AUM through associate distributors

An analysis of AUM data shows that SBI MF, ICICI Prudential MF and HDFC MF command the highest AUM through their associate partners.

Associate distributors are affiliated to the sponsors of the AMCs. For instance, HDFC Bank is the associate distributor of HDFC Mutual Fund.

SBI MF has 21% of its total AUM coming from its sponsor. It commands associate AUM of Rs.2.12 lakh crore.

ICICI Prudential MF and HDFC MF have the second and third highest associate AUM of Rs. 57,400 crore and Rs. 42,500 crore, respectively.

Next are Axis MF and Kotak MF with associate AUM of Rs. 31,200 crore and Rs. 14,500 crore, respectively.

Other fund houses with considerable associate AUM are Baroda BNP Paribas MF, Aditya Birla MF, Canara Robeco MF, HSBC MF and Union MF.

in terms of fund houses with the highest share of associates in their total AUM, NJ MF leads the way with about 80% of its AUM coming through associates.

Union MF comes a distant second with over 34% of its AUM coming through associates. Baroda BNP Paribas MF is the third largest fund house with 31% of its MF AUM coming through associates.

Other fund houses with over 20% of associate share in their MF AUM include Shriram MF, BOI MF and SBI MF.  

Overall, associates contribute Rs. 4.21 lakh crore of the total industry AUM, which is around 7% of the total AUM of the MF industry.

Let us look at the table to know more.