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Prudent Corporate Advisory has surpassed the AUM milestone of Rs.1 lakh crore in mutual funds.
With this, the company has become the second non-banking MF distributor to achieve this milestone.
The ND attributes this growth to its network of over 30,000 partners and more than 17 lakh investors. The company’s equity AUM went up by 5 times in 5 years. Also, the monthly SIP flow has grown to Rs.800 crore in July 2024.
In a press release, Sanjay Shah, Chairman & Managing Director of Prudent Group said, “This has been a remarkable journey and would not have been possible without the support of our partners, investors and the Prudent team. As we celebrate this achievement, we are more excited about the future of the mutual fund industry. With only 4.69 crore unique mutual fund investors in a population exceeding 140 crore, the industry's focus towards 'Har Ghar SIP' is set to drive significant growth in these numbers.
Attributing this milestone to MFDs, Shirish Patel, Chief Executive Officer (CEO) of Prudent Group said “Today, distributors play a pivotal role beyond investment facilitation. They assist clients in defining financial goals, assessing risks, selecting suitable assets and providing behavioral coaching to ensure clients stay on course with their financial plans. This added value is evident with distributors managing 79% of the industry’s individual equity AUM. Distributors are the backbone of our industry, and I encourage more professionals to embrace this fulfilling career path, offering abundant opportunities to positively impact clients’ financial futures.”
