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2024 ended on a good note for the MF industry.
AMFI data shows that the MF industry has added over 29,435 new ARN holders in 2024 compared to 22,657 new ARN holders in 2023, a healthy growth of 30% in one year.
Overall, the total number of new ARN registrations has witnessed a growth of 23% in 2024. The industry has added a total of 61,646 new ARNs across categories throughout the year 2024 while this number was 49,857 in 2023.
Here are the key trends in the ARN registrations:
- In 2024, the individual ARN registrations, which grew by around 30%, grew twice as fast than the corporate employees’ registrations which grew by 15%
- In 2024, 29,435 new ARNs registered under the individual category while 30,108 ARNs were registered under the corporate employees’ category
- 1,817 ARNs registered under corporate ARN which is 61% more than the 1,125 ARNs under this category in 2023
- ARN registrations under categories like private limited companies, private partnership firms & etc. also grew by 62%. In 2024, the ARNs under this category stood at 1799 ARNs compared to 1,106 ARNs in 2023
- As on December 2024, the total ARN holders stood at 173664 and 87147 ARNs out of the these belong to T-30 cities while 86517 ARNs are from B-30 towns
- Overall, if we include EUIN holders, the industry has 293525 foot soldiers
VN Chalasani, CEO, AMFI attributes this to ‘MFD karein shuru’ campaign. He said that AMFI has launched this campaign to increase the number of distributors in India. Also, the demand of mutual funds as a product has gone up, which encouraged many individuals to join the distribution work force, he added.
Saugata Chatterjee, Chief Business Officer at Nippon Mutual Fund, said that the industry, as a whole, is going through an expansion phase and the new generation distributors are opting to look at mutual fund industry as a viable career option.
Further, various digital initiatives by different virtual platforms are also helping the new and potential distributors to become interested in MF as a career option and many wealth managers and bankers are also showing keen interest in working with MF Industry as distributors, he added.
Ravi Kumar Jha, MD & CEO, LIC MF pointed out that the mutual fund industry is growing at a very rapid pace. In the last three years, the assets under management in the industry have doubled which is why many people are of the thought that it is a good time to establish themselves as mutual fund distributors (MFDs).
Akhil Chaturvedi, Executive Director and Chief Business Officer of Motilal Oswal MF said that the industry is also driving the MFD sandbox program to attract new talent in the industry.
