Indian Mutual Fund Industry 2.75 lakh MFDs in July 2024
AMFI ((Association of Mutual Funds in India) data shows that the MF (Mutual Fund) industry had 2.75 lakh MFDs (Mutual fund distributors) in July 2024 compared to 2.43 lakh MFDs in July 2023, an increase of 32,000 MFDs. The data includes all ARN (AMFI Registration Number) and EUIN (Employee Unique Identification Number ) holders.
Of these 2.75 lakh MFDs, 54% or 1.48 lakh MFDs are individual distributors. Interestingly, more than half of this number or 74,700 individual MFDs are from B30 cities.
The data further reveals that the industry has 6,672 senior citizen distributors and 7,345 corporates. In terms of EUIN holders, the industry has a sales force of 1.13 lakh employees.
Let us check the table to learn more:
| Category | T - 30 | B - 30 | Total |
| Individual | 73,465 | 74,731 | 1,48,196 |
| Senior Citizen | 2,628 | 4,044 | 6,672 |
| New Cadre | - | 2 | 2 |
| Corporate | 5,571 | 1,774 | 7,345 |
| Individual MFD Employees | 75,051 | 37,864 | 1,12,915 |
| Corporate Employees | 206 | 132 | 338 |
| Total | 1,56,921 | 1,18,547 | 2,75,468 |
AMFI data further reveals that about 22,300 distributors renewed their ARN between April & July 2024 as against 12,144 distributors during the corresponding period in 2023. This data includes all ARN & EUIN holders. Of the 22,300 distributors, 65% or 14,385 individual MFDs renewed their ARN; this number was 7,085 in April-July 2023.
Furthermore, the data also indicates that over 7,300 EUIN holders renewed their ARN.
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