HDFC MF, ICICI Pru MF and Nippon India MF get the highest contribution from MFDs, banks/NDs

An analysis of AUM data by Cafemutual shows that HDFC MF, ICICI Pru MF and Nippon India MF are the top three fund houses in terms of assets from non-associate partners.

Non associate distributors are essentially those who are not affiliated to the sponsors of AMC. In other words, this comprises individual MFDs, non-affiliated banks and non-affiliated NDs.

HDFC MF is the leader in the segment with Rs. 4.19 lakh crore coming from the non-associate partners. The fund house derives 53% of its total assets from such partners.

ICICI Prudential MF and Nippon India MF occupy the second and third position with non-associate AUM of Rs. 4.01 lakh crore and Rs. 2.63 lakh crore, respectively. The fund houses receive over 45% of its assets from non-associate distributors.

UTI MF and SBI MF are the next two with non-associate assets of Rs. 2.52 lakh crore and Rs. 2.48lakh crore, respectively.

Other fund houses in the top 10 list in terms of non-associate AUM include Kotak MF, Aditya Birla Sun Life MF, Axis MF, Mirae Asset MF and DSP MF.

If we look at the proportion of AUM of non-associate distributors with respect to the total assets, Samco MF has the highest share of its AUM coming from non-associates at 88%.

WhiteOak Capital MF is the second with non-associate partners contributing 86% to its AUM. Mahindra Manulife MF occupies the third spot with 84% of its AUM coming from non-associate partners.

Other fund houses with over 80% contribution from non-associate distributors are Taurus MF and Franklin Templeton MF.

Overall, the non-associate distributors contribute Rs. 32.71 lakh crore to the industry AUM, about 47% of the total industry AUM of Rs. 69.22 lakh crore in December 2024.

Let us look at the table to know more.