Prudent Corporate Advisory Services, one of the leading diversified financial services groups, has surpassed the ₹1 lakh crore of mutual fund assets under management.
Prudent became the second non-banking mutual fund distributor to achieve this milestone last Friday.
The equity asset of the company has increased five times in the last five years and has climbed to become the fourth largest from eighth place. It has surpassed some of the largest banks in terms of MF distribution.
The monthly SIP flow has significantly grown to ₹800 crore last month. It has a network of over 30,000 partners and more than 17 lakh investors.
Mutual fund distributor’s traction towards partnering with technology-led platforms has grown multi-fold post COVID.
In five years, the number of MFDs joining Prudent platform has grown by almost 3 times, Equity AUM has grown at a CAGR of 40 per cent versus industry’s 28 per cent, while the monthly SIP flow has increased at a CAGR of 26 per cent against industry’s 21 per cent.
Sanjay Shah, Chairman and Managing Director, Prudent Group said the industry’s focus towards ‘Har Ghar SIP’ is set to drive significant growth with only 4.69 crore unique mutual fund investors in a population of 140 crore.
Shirish Patel, Chief Executive Officer, Prudent Group said the Rs 1 lakh crore mutual fund AUM is a testament that mutual fund distributors find immense value in partnering with Prudent due to its technology offerings and on-ground support.
The comprehensive platform offers mutual fund products, insurance, broking, PMS, AIF, peer-to-peer lending, Corporate Fixed Deposits, Primary and Secondary Bonds and smallcase enabling MFDs to meet clients needs under one roof, he said.
The role of distributors in the MF industry is significant as they manage 79 per cent of the industry’s individual equity AUM, he added.