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A mutual fund distributor, also known as a mutual fund agent, is an individual/business entity that assists investors in purchasing and managing mutual fund investments. In India, the Securities and Exchange Board of India (SEBI) and Association of Mutual Funds in India (AMFI) regulate and monitor the mutual fund distributors.
In this blog post, we shall discuss the top mutual fund distributors in India.
Our list of the top 10 mutual fund companies comprises the leading businesses across the country. We are sure you have heard some of these names already.
|
S. No. |
Mutual Fund Distributor’s Name |
|
1. |
State Bank of India (SBI) Mutual Fund |
|
2. |
NJ IndiaInvest |
|
3. |
HDFC Mutual Fund |
|
4. |
Axis Mutual Fund |
|
5. |
Prudent Corporate Advisory Services |
|
6. |
ICICI Prudential Mutual Fund |
|
7. |
ICICI Securities |
|
8. |
Kotak Mahindra Bank |
|
9. |
360 ONE |
|
10. |
Anand Rathi Wealth |
State Mutual Fund is a leading mutual fund distributor in India. The SBI bank, which has its reach in some of the most remote parts of the country, is a sponsor and has a significant stake in SBI MF. The company offers various MF schemes that are designed to help investors achieve various financial goals, including wealth creation, retirement planning, tax saving, and liquidity parking.
SBI MF is one of India’s largest bank sponsored MFs and has an enviable track record when it comes to judicious investments and consistent wealth creation. The largest banking company in India, SBI, is the fund's parent. Since its founding, the organization has expanded significantly, and today it is the biggest bank in India, with more than 80% of the nation's leading corporations as its clients. The State Bank of India and Société Générale Asset Management, one of the top fund management firms in the world with over $500 billion in assets under management, had partnered to create the SBI Mutual Fund.
The fund has introduced 38 projects throughout its 20 years of operation, and 15 of them have been successfully redeemed. It has provided steady returns to its investors, rewarding them handsomely in the process. More than 5.8 million investors have put their trust in the MF's ability to generate wealth. MF schemes of SBI MF have continuously beaten benchmark indexes, making them the go-to investment for millions of investors and high net worth individuals.
The fund currently oversees assets worth over Rs. 42,100 crores and has a wide range of investors who actively park their money in 38 different schemes. Through a network of more than 130 sites of acceptance, 29 investor service centers, 59 investor service desks, and 6 investor service locations, the fund reaches out to their large family of investors. The Resurgent India Opportunities Fund is the first offshore fund introduced by a bank-sponsored fund, SBI. SBI MF's motto is "growth through innovation and stable investment policies."
NJ India Invest, also known as NJ Wealth, is a leading mutual fund distributor in India. It is famous for having a large network and significant assets under management (AUM). It is a part of NJ Group - a key player in the financial services industry of the country in today’s time.
The group’s journey began in 1994 with the establishment of NJ India Investment Private Limited to serve the needs of investors in the financial services industry. In 2003, NJ Wealth - Financial Products Distributors Network was established after roaming through initiatives in various B2C services. The company is now among the largest network of financial products distributors in the country.
NJ Group, over the years, has entered other businesses and now, it has presence across various businesses like financial products distribution, NBFC, real estate, asset management, insurance broking, training and development, FMCG, interior solutions and technology. It has a rich experience in the financial services domain, and has executional capabilities and strong process and system orientation. This has helped the company shape a path of rising growth in its business.
HDFC Mutual Fund, otherwise known as HDFC Asset Management Company, is presently one of the largest mutual fund and actively-managed equity MFs in India. It is one of the most profitable AMCs in India. Currently, it manages assets worth Rs. 7,93,714.25 cr and 30 schemes in total (as of April, 2025).
The incorporation of HDFC Asset Management Company (AMC) was done under the Companies Act 1956. It was established on 10 December 1999. Its registered office address is Ramon House, 3rd Floor, H.T. Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai - 400 020.
Through 210 locations located in more than 200 Indian cities, the company provided services to over 75,000 empanelled distribution partners. On June 30, 2000, HDFC Asset Management Company Ltd. was granted permission by SEBI to operate as an AMC, with registration number MF/044/00/6. Since September 18, 2016, it has also provided portfolio management and non-binding investment advisory services under the SEB registration code PM /INP000000506.
Axis Mutual Fund is yet another company in the list of top 10 mutual fund distributors in India. The company launched its very first scheme in October 2009. Since its inception, Axis MF has grown significantly. The company attributes its success far to its 3 founding principles - (i) long term wealth creation, (ii) outside in (customer) view and (iii) long term relationship.
The formal name of Axis MF is Axis Asset Management Company Ltd. It is the MF-investment wing of the Axis Bank, which is one of the largest private banks of India. The AMC’s 74.99% shares are held by Axis Bank. Schroder Singapore Holdings Private Limited holds the remaining 24%.
As of April, 2025, Axis MF has AMC of Rs. 3,27,278.18 cr. It operates in 19 countries in the Middle East, Europe, America, and Asia with 31 investment teams. Axis MF offers more various distinct schemes in its product lineup. It has more than lakhs of active investor accounts and is present in more than 100 cities.
Prudent Corporate Advisory Services comes with over 20 years of experience. It was set up in 2000, and made a market debut as a publicly listed company in 2022. It offers a wide range of financial products and services. This includes MFs, stock broking, fixed deposits, loan products and insurance among other investment products.
Prudent Corporate Advisory Services delivers comprehensive and remarkable services to individuals, corporate, high net worth individuals, and ultra high net worth individuals. It matches investment aspirations and risk appetite of its clients through a team of more than 1400 highly qualified professionals & 32,000 well trained and qualified prudent partners.
Prudent’s market dominance over a period of time has earned it not just trust and confidence but many awards. Currently, it has presence across India through its 135 branches over 21 states with its strong digital presence.
The ICICI Prudent Asset Management Company manages the ICICI Prudential Mutual Fund. The fund offers a range of investment options. The expertise of ICICI Prudential MF lies in their diverse fund choices and their commitment to delivering consistent returns. This makes the company a reliable choice for the investors who seek growth and financial stability.
ICICI Prudential AMC was set up as a partnership between ICICI Bank and Prudential PLC in 1993.The Prudential Corporation Holdings Ltd. is a famous UK-based global insurance company. Even today, ICICI Prudential AMC remains one of the most profitable MFs in the Indian market. As of April 2025, ICICI Prudential’s AUM is Rs. 9,08,282.10 cr. and its no. of schemes is 338.
ICICI Securities Limited is one of the best mutual fund distributors in India. It is an AMFI-registered Mutual Fund Distributor. ICICI Securities is a securities firm that offers a variety of financial services like retail and institutional broking, merchant banking, financial products distribution, private wealth management, and issuer and advisory services. It is one of the pioneers when it comes to the e-broker business.
It is a leading MFD that provides a range of financial products like MFs, Exchange Traded Funds, National Pension Scheme, RBI bonds, Sovereign Gold Bonds, Protection and Loan Products, Corporate Fixed Deposits and Real Estate Investment Trusts (REITs).
According to brokerage revenue and active clients in stocks on the National Stock Exchange, the company has been among the biggest equity brokers in India since fiscal 2014. By connecting its electronic brokerage platform with customers' savings bank and dematerialized accounts held with ICICI Bank, the company's retail brokerage and financial product distribution businesses enable its clients to access the Indian financial capital markets through their ICICIdirect platform and offer a smooth settlement process through a 3-in-1 account.
Its digital brokerage platform offers its retail clients a range of transaction options as well as an integrated interface that lets them monitor the success of their assets and other portfolio metrics.
Kotak Mahindra Mutual Fund is a key MF company in India. It is backed by Kotak Mahindra Bank, and has a large network of distributors. The KMB is an Indian banking and financial services company with its headquarters in Mumbai, Maharashtra.
It provides banking products and financial services for both corporate as well as retail customers in the fields of personal finance, investment banking, wealth management and life insurance. Kotak Mahindra Bank is the Kotak Group’s flagship company.
It is one of the fastest growing banks and the most admired financial institutions in the country. The Bank arranges initial public offerings (IPOs), runs lending verticals, offers transaction banking, and makes working capital loans. The Bank's primary business operations are divided into treasury, corporate banking, commercial banking, consumer banking, and other financial services. The Bank provides its clients with a wide range of financial products and services through its subsidiaries. Commercial banking, investment banking, stock broking, auto financing, asset management, consulting services, life insurance, and general insurance are its main operations.
KMB offers full financial solutions for the endless needs of individual and non-individual customers depending on their needs. It delivers solutions through its state of art technology platform. They also sell gold coins and bars, MFs, life insurance, and other investment goods. They provide convenient banking options through mobile banking, SMS services, Netc@rd, home banking, and bill payment, in addition to phone and internet banking. Customers can hold government securities, bonds, equity shares, and other securities in electronic or Demat formats thanks to the Bank's depository services.
360 ONE WAM Ltd, previously IIFL Wealth Management Ltd/IIFLW, was registered as a public limited company on 17 January 2008. It is a holding company of its subsidiaries engaged in wealth and asset management services like financial asset distribution, lending, credit and investment solutions, broking, and asset and portfolio management.
360 ONE offers transaction structuring and advisory services pertaining to financial products to its customers. In 2009, IIFL Inc established international offices in Mauritius, Dubai and Singapore as a global footprint. Also in 2011, Finest Wealth Managers was acquired by IIFL Wealth Management, which added nearly Rs. 1700 AUM. Then, in 2012, the wealth management of the company was Rs. 25000 crores AUM.
The company acquired Chennai-based wealth advisors India and Bangalore-based Altiore Advisors in 2018. During 2022-23 period, 360 ONE launched 360 ONE Equity Opportunity Fund (CAT III AIF) and 360 ONE Equity Opportunity Fund Series 2 (CAT III AIF) mainly investing in listed equities to hedge portfolio return. It also launched 360 ONE Special Opportunity Fund - Series 11 and 360 ONE Mid-Stage Venture Fund I, earlier known as TrueScale Venture Growth Fund I. The company increased its investments in the Commercial Yield Fund (Category II AIF), a private credit strategy that isn't tied to any specific sector and focuses on high-quality loans backed by strong collateral. It also launched the Income Opportunities Fund Series 4 (Category II AIF), which mainly invests in unlisted infrastructure and real assets, along with several large-value funds.
On the listed equity side, 360 ONE Asset kept investors informed with regular updates on product performance and features. They continued to grow by partnering with new distributors and scaling up existing products like the Multicap PMS and Phoenix PMS.
Additionally, they introduced a new debt portfolio strategy called the Managed Credit Solution Portfolio, and launched the 360 ONE ELSS Nifty 50 Tax Saver Index Fund (previously known as the IIFL ELSS Nifty 50 Tax Saver Index Fund).
Anand Rathi Wealth Limited, a publicly listed company, has been engaging in the Private Wealth sector since 2002 and has been serving high-net-worth individuals (HNIs). It is also registered with AMFI as an MFD. Anand Rathi Group’s founder is Mr. Anand Rathi.
He is a gold medalist chartered accountant who is a leading financial and investment expert in India and within the South-East Asian region. Before he laid the foundation of the Anand Rathi Group, he had an illustrious career with the Birla Group. As a core member of the Group, he played an important role in the cement business. He spearheaded the Group’s entrance in several manufacturing and service sectors.
He became Bombay Stock Exchange’s president in 1999. BSE Online Trading System (BOLT) system’s rapid expansion during Mr. Rathi’s tenure speaks volume about his farsightedness. Additionally, he set up the Trade Guarantee Fund and played an important role in establishing the Central Depository Services (CDS). He is ICAI’s popular member and comes up with over 50 years of experience in various sectors. He is the Managing Director of Anand Rathi Global Finance Limited.
On March 22, 1995, Anand Rathi Wealth Limited was first established under the name Hitkari Finvest Private Limited. Through its representative office in Dubai, the company has expanded its services to the non-resident Indian population over the years. All of the major Indian cities are served by the company's vast network of relationship managers, which guarantees standardized and objective solutions to satisfy the financial goals of their clients.
In this blog post, we discussed the to 10 mutual fund distributors in India. From NJ India Invest to Anand Rathi Wealth, there are several prominent players that offer a wide range of investment solutions depending on the needs of corporate and individual clients. If you want to become a mutual fund’s distributor, connect with the Registrationwala team. We will help you get MFD license by helping you out in the application filing process with AMFI.
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