The company’s assets under advisory in mutual funds increased from Rs. 11,928 crore in March 2014 to Rs. 20,000 crore in December.
Gujarat based national distributor - NJ India’s assets under advisory (AUA) in mutual funds has crossed Rs. 20,000 crore in December. NJ India, which was managing Rs. 11,928 crore as on March 2014 has recorded 68% growth in its assets under advisory in less than one years’ time.
Neeraj Choksi, Jt. Managing Director, NJ India attributed the growth to the rising equity market and strong pick up in mutual fund business. NJ India has the largest sub-broker networks in the country.
Recently, another national distribution firm Prudent Corporate Advisory’s assets under advisory reached Rs. 5,000 crore in December. Prudent was managing Rs. 3,594 crore as on March 2014.
Among banks, Citibank was the largest MF distributor last year with assets under advisory of Rs. 15,792 crore. In the national distribution space, NJ India was the top distributor with AUA of Rs. 11,928 crore as on March 2014.
