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An analysis of AUM data done by Cafemutual reveals that associate distributors contribute Rs. 4.43 lakh crore out of the total MF industry assets of Rs. 66.71 lakh crore. This indicates associates contribute about 7% of the total industry AUM.
Associate distributors are affiliates of fund houses. For instance, Axis Bank is the associate distributor of Axis MF.
Fund houses with large associates like SBI MF, ICICI Prudential MF and HDFC MF are the top players in terms of AUM from associate distributors.
SBI MF has the highest associate AUM of Rs. 2.26 lakh crore, making up 21% of its overall assets.
ICICI Pru MF is at the second position with about Rs. 62,100 crore contributed by associate distributors while HDFC MF is the third with an associate AUM of about 42,600 crore. Both fund houses derive 7% and 6% of their total assets from associates, respectively.
Axis MF and Kotak MF are the next with associate AUM of Rs. 31,700 crore and Rs. 15,000 crore, respectively. Both fund houses see 10% and 3% of their total assets coming through associate distributors, respectively.
Other fund houses with healthy AUM from associate distributors include Baroda BNP Paribas MF, Aditya Birla Sun Life MF, Canara Robeco MF, HSBC MF and Union MF.
12 out of the 44 fund houses including Zerodha MF, Helios MF, Groww MF, PPFAS MF, Quant MF don’t have any AUM from associate distributors.
In terms of percentage of associate distributors AUM to the total AUM of the fund house, NJ MF has the highest share of its assets coming from such distributors at 79%.
Union MF is the second with associates contributing 29% of its assets while Baroda BNP Paribas MF has 27% of its AUM contributed by associates.
SBI MF and Bank of India MF have also recorded 21.3% and 21% of their assets coming from associate distributors.
Further, Shriram MF and Axis MF are other fund houses with over 10% of their total AUM coming from associate distributors.
Let us look at the table to know more:
|
Sr. No. |
Fund House |
Associate AUM |
Total AUM |
Associate AUM (%) |
|
1 |
SBI |
226615 |
1061990 |
21.34 |
|
2 |
ICICI Pru |
62092 |
874334 |
7.1 |
|
3 |
HDFC |
42585 |
762539 |
5.58 |
|
4 |
Axis |
31743 |
314489 |
10.09 |
|
5 |
Kotak |
14967 |
477737 |
3.13 |
|
6 |
Baroda BNP Paribas |
12125 |
45003 |
26.94 |
|
7 |
Aditya Birla Sun Life |
8519 |
378506 |
2.25 |
|
8 |
Canara Robeco |
8049 |
101895 |
7.9 |
|
9 |
HSBC |
7806 |
119065 |
6.56 |
|
10 |
Union |
5796 |
19700 |
29.42 |
|
11 |
NJ |
5014 |
6326 |
79.26 |
|
12 |
UTI |
3427 |
338362 |
1.01 |
|
13 |
Motilal Oswal |
3282 |
91740 |
3.58 |
|
14 |
LIC |
2642 |
36054 |
7.33 |
|
15 |
Bank of India |
2387 |
11351 |
21.03 |
|
16 |
Sundaram |
1633 |
64746 |
2.52 |
|
17 |
Tata |
1145 |
186009 |
0.62 |
|
18 |
Bandhan |
896 |
164640 |
0.54 |
|
19 |
Mirae Asset |
868 |
182680 |
0.48 |
|
20 |
JM Financial |
645 |
13596 |
4.74 |
|
21 |
Mahindra Manulife |
285 |
27090 |
1.05 |
|
22 |
360 One Asset |
246 |
11231 |
2.19 |
|
23 |
Shriram |
186 |
917 |
20.28 |
|
24 |
Samco |
97 |
2754 |
3.52 |
|
25 |
Trust |
71 |
2753 |
2.58 |
|
26 |
Bajaj Finserv |
63 |
20821 |
0.3 |
|
27 |
DSP |
26 |
183223 |
0.01 |
|
28 |
Invesco |
25 |
104173 |
0.02 |
|
29 |
ITI |
16 |
9014 |
0.18 |
|
30 |
WhiteOak Capital |
9 |
17093 |
0.05 |
|
31 |
Old Bridge |
3 |
1258 |
0.24 |
|
32 |
Taurus |
1 |
852 |
0.12 |
|
33 |
Zerodha |
0 |
5310 |
0 |
|
34 |
Helios |
0 |
3507 |
0 |
|
35 |
Groww |
0 |
1594 |
0 |
|
36 |
PPFAS |
0 |
103462 |
0 |
|
37 |
Quant |
0 |
86016 |
0 |
|
38 |
Edelweiss |
0 |
142796 |
0 |
|
39 |
Navi |
0 |
7126 |
0 |
|
40 |
Quantum |
0 |
2595 |
0 |
|
41 |
Nippon India |
0 |
556530 |
0 |
|
42 |
Franklin Templeton |
0 |
106246 |
0 |
|
43 |
PGIM India |
0 |
23450 |
0 |
|
44 |
Unifi |
0 |
320 |
0 |
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