Top 30 mutual fund distributors manage 25% of industry AUM

Top 30 mutual fund distributors manage one-fourth of the total assets managed (AUM) by the mutual fund industry, according to Amfi data. The data shows that the top 30 ARN holders managed assets worth Rs 6.41 lakh crore in FY 2018-19. Total AUM of the mutual fund industry stood at Rs 25.43 lakh crore as on May 31, 2019.

Banks remained the top mutual fund distributors in the country in FY19. HDFC Bank was the largest distributor which managed AUM of Rs 72,944 crore, followed by State Bank of India with Rs 64,280 crore AUM.

However, NJ India Invest, a financial services distributor's network, took first place in terms of gross commissions and expenses received during FY 19, shows Amfi data. It manages assets worth Rs 62,947 crore, third largest AUM after HDFC Bank and State Bank Of India.


Only 20 distributors out of a total of 1,037 ARN holders held assets worth over Rs 10,000 crore. In total, they manage 22 per cent of the industry’s assets.

Amfi has released data of 1,037 ARN holders instead of 1,017 distributors last year.

Here is a list of the top distributors in our country. We have taken the ARN holders managing average assets of at least Rs 4,000 crore.

Name of the ARN Holder	Gross commission & expenses received(Rs crore)	AAUM for 2018-19 (Rs crore)
HDFC Bank	497	72,944
State Bank Of India	488	64,280
NJ IndiaInvest	808	62,947
Axis Bank	556	52,923
ICICI Bank	355	41,803
Kotak Mahindra Bank	255	37,555
ICICI Securities	319	34,510
IIFL Wealth Management	176	30,568
Citibank NA	182	28,664
Prudent Corporate Advisory	235	19,033
Hongkong & Shanghai Banking Ciorporation	114	18,107
Standard Chartered Bank	151	17,905
Julius Baer Wealth Advisors (India)	91	13,838
SPA Capital Services	48	12,817
JM Financial Services	62	11,926
Aditya Birla Finance	53	11,273
Anand Rathi Wealth Services	121	11,242
Karvy Stock Broking	88	10,170
Bajaj Capital	92	10,128
L&T Capital Markets	52	10,043
Deutsche Bank	51	9,788
LICHFL Securities	4	9,716
Tata Securities	5	7,679
Batlivala & Karani Securities	19	7,227
Indusind Bank	95	6,795
Pioneer Client Associates	59	6,319
Darshan Services	29	5,525
Srividya Enterprises LLP	10	5,511
Wealth India Financial Services	46	5,440
Canara Bank	48	4,733
Barclays Securities (India)	20	4,725
Mata Securities India	8	4,705
Cedrus Consultants	29	4,697
Credit Suisse Securities India	20	4,681
HDFC Securities	48	4,616
IDBI Bank	31	4,609
IIFL Wealth Asvisors India	23	4,350
Motilal Oswal Waelth Management	27	4,152

Source: Amfi