Distributors flock to MFs as returns and flows improve, shows data

Industry onboards 11,600 distributors since April, over 2x FY23's

An improved showing of mutual funds (MFs) is helping the industry attract distribution talent at a brisk pace. The industry has onboarded a net of 11,600 individual distributors in the first seven months of 2023-24 (FY24) compared to just 5,555 distributors in the whole of 2022-23 (FY23), according to data from the Association of Mutual Funds in India.

Like most financial products, MFs also have significant reliance on individual distributors to sell their products, even as digital platforms are gaining popularity.

As of October 2023, distributors, banks included, accounted for 57 per cent of the Rs 46.7 trillion assets under