Even as the commission-free ‘direct’ plans are gaining momentum when it comes to mutual fund (MF) investment, the distribution business continues to chart its own growth path.
In the financial year 2023-24 (FY24), nearly 2,500 major MF distributors (MFDs) raked in over Rs 14,850 crore in commissions, with most large distributors registering a sharp surge in income.
In the previous year (FY23), the Association of Mutual Funds in India (Amfi) had pegged the total commission income of leading 1,781 distributors at Rs 12,071 crore. In FY22, 1,544 distributors had made Rs 1,544 crore.
According to top MF
