Individual mutual fund (MF) distributors earning more than Rs 1 crore in commissions rose 83 per cent to 110 in 2016-17, from 60 a year before. In 2011-12, only 22 individuals earned more than Rs 1 crore in commissions.
The increase in wealthy distributors comes on the back of a three-fold increase in the sector's assets under management (AUM), from Rs 6.6 lakh crore to Rs 18.6 lakh crore during the past five years.
Overall commission paid to distributors during 2016-17 hit a record high at Rs 4,987 crore, up 36 per cent over the previous year.
