Many investors risk their entire savings by directly taking exposure in stock markets or mutual funds, mostly based on advice received from their friends.
This, however, is a very risky proposition. And when they lose money, they hold the mutual fund sector accountable.
Mutual fund distributors, who are trained for the job, can help investors to understand the risk-return ratio, evaluation of the mutual fund scheme, its various objectives and most importantly, whether its objective matches with the goal of the investor.
Meet the top 20 mutual fund distributors of our times.
Axis Bank
Axis Bank is well positioned to take advantage of the growth of mutual fund distribution. In fact, mutual fund distribution forms an integral part of the bank’s overall consumer banking strategy. The bank, currently, has asset under management (AUM) worth 50,000 crore and continues to add more than one lakh new investors every year. The gross commission earned shot up by 116 per cent in Financial Year (FY) 2018 to 538 crore from 249 crore in FY 2017. Recently, the bank has also introduced its online banking and phone banking facilities.
HDFC Bank
Among the distributors of mutual fund products, HDFC Bank has emerged as the biggest beneficiary in FY 2018. Its gross commission earned during the year shot up by 61 per cent to 641 crore. The bank had earned 397 crore in FY 2017. Besides mutual funds, the bank also distributes other financial products like life insurance and general insurance products.
Sharekhan
This story is from the October 2018 edition of Outlook Money.
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This story is from the October 2018 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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