Top 30 Individual Mutual fund Distributors in India 2023FInancial NewsTop 30 Individual Mutual fund Distributors in India 2023

Top 30 Individual Mutual fund Distributors in India 2023

Top 30 Individual Mutual fund Distributors in India 2023

Who are India’s Top 30 individual Mutual fund distributors and what is their AUM?

In March 2023, a comprehensive analysis of Assets Under Management (AUM) disclosure among India’s top mutual fund distributors revealed an impressive total AUM of Rs. 19,000 crore. Let’s delve into the rankings and discover some fascinating insights from the Indian Mutual Fund industry for the fiscal year 2023.

Top 30 Individual Mutual fund Distributors in India 2023

1. Madhav Ganpule: India’s Leading Individual MFD

  • AUM FY 2023: Rs. 1,547 Crore
  • Growth: 9% (from Rs. 1,425 Crore in FY 2022)

2. Ganesh Shanbhag: Securing the Second Spot

  • AUM FY 2023: Rs. 1,242 Crore
  • Growth: 5%

3. Manjula S: A Strong Third Position

  • AUM FY 2023: Rs. 1,041 Crore

4. Ranjan Panigrahi: Emerging at Fourth Place

  • AUM FY 2023: Rs. 887 Crore
  • Growth: 57%

5. Sadashiv Phene: Fifth Place Holder

  • AUM FY 2023: Rs. 851 Crore
  • Growth: 15%

Notable Growth:

  • In absolute terms, Ranjan Panigrahi, Mukund Sheshadri, and Salil Kothari witnessed the highest AUM growth, with Ranjan leading the pack with an increase of over Rs. 320 Crore.
  • In percentage terms, Ranjan (57%), Salil (31%), and Ramkumar Barchha (24%) were the top three distributors in terms of growth.

Regional Diversity:

  • While most of the top distributors hail from Mumbai and Pune, it’s encouraging to see four distributors from non-metro cities making it to the top 30 list: Hari Kamat (Panaji, Goa), Jennifer Mendez (Mapusa, Goa), Ramkumar Barchha, and Rashmi Thukral.

Empowering Women MFDs:

  • Six women Mutual Fund Distributors secured their places in the top 30, showcasing their growing influence in the industry: Manjula S (3rd), Jennifer Mendez (8th), Nonie Kapoor (22nd), Rashmi Thukral (27th), Zeenat Jagani (28th), and Preeti Kucheria (30th).

Dynamic Mumbai Dominance:

  • Mumbai remains the epicenter of Mutual Fund distribution in India, with a significant number of top-ranking MFDs headquartered in the financial capital.
  • The city’s vibrant financial ecosystem continues to attract talent and nurture industry leaders.

Growing Interest in Non-Metro Cities:

  • The presence of MFDs like Hari Kamat (Panaji, Goa) and Jennifer Mendez (Mapusa, Goa) on this list underscores the growing interest in non-metro cities. This indicates the industry’s expanding reach and potential beyond major urban centers.

Diverse Investment Strategies:

  • While the top MFDs come from different cities, their success highlights diverse investment strategies and approaches that cater to a wide range of investors.

Impact of Economic Trends:

  • The substantial growth in AUM, especially in terms of percentage, reflects the resilience of the Mutual Fund industry in navigating economic fluctuations and uncertainties.

The Role of Women in Finance:

  • The presence of six women MFDs in the top 30 demonstrates the increasing role of women in finance and their ability to excel in this competitive field.

Here is the complete list of India’s top 30 Mutual Fund Distributors for the fiscal year 2023, along with their respective cities, AUM figures for FY 2023 and FY 2022, and the corresponding changes:

MFDsCityAUM FY 2023 (Rs.)AUM FY 2022 (Rs.)Change (Rs.)Change (%)
Gaurav GanpulePune1,5471,4251229%
Ganesh ShanbhagMumbai1,2421,188545%
Manjula SBangalore1,0411,346-305-23%
Ranjan PanigrahiMumbai88756432357%
Sadashiv PheneMumbai85174310815%
Hari KamatPanaji, Goa8367587810%
Mukund SeshadriMumbai70857413423%
Jennifer MendezMapusa, Goa6816067512%
Harish KotianMumbai672637355%
Mukesh DokaniaKolkata6185269217%
Rakesh PasrichaNew Delhi618583356%
Divyesh RachMumbai61650211423%
Rajbir SinghMumbai611578336%
Saibal BiswasKolkata6055416412%
Anandbir SinghMumbai5775255210%
Dhananjay KalePune5604867415%
Yogesh ShahAhmedabad549528214%
Salil KothariMumbai54641812831%
Ravindra OberoiMumbai514487276%
Deepesh AroraAhmedabad510466449%
Ramkumar BarchhaRajkot5094129724%
Nonie KapoorNew Delhi504550-46-8%
Ajay MishraMumbai450Not foundNot foundNot found
Nayan SaraiyaMumbai4403806016%
Mukesh KumarBangalore4343864812%
Rajinder Pal Singh AnandMumbai431419123%
Rashmi ThukralVaranasi421552-131-24%
Zeenat JaganiMumbai417396215%
Drumesh PandyaAhmedabad414421-7-2%
Priti KucheriaMumbai413392215%

Top 30 Individual Mutual Fund Distributors in India 2023

This comprehensive ranking not only highlights the leading individual Mutual Fund Distributors in India but also provides insights into the industry’s dynamics, regional diversity, and the increasing prominence of women in finance. As the Mutual Fund industry continues to evolve, these insights offer valuable perspectives for both investors and professionals in the field.

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