India’s mutual fund industry reached a historic AUM (Assets Under Management) of ₹74.79 lakh crore in June 2025, showing an unprecedented growth of about 22–23% over the previous year. With this rapid expansion, choosing the right mutual fund distributor is more critical than ever. Whether you’re searching for the top mutual fund distributors in India, the biggest industry players, or reliable personal advisors and brokers, making an informed choice can significantly impact your investment journey.
In this guide, we will discuss the most trusted and trending mutual fund distributors of 2025 that can help make your investment journey easier.
Who are Mutual Fund Distributors?
Mutual fund distributors are individuals or institutions that help investors invest in different mutual fund schemes. These distributors are registered with AMFI (Association of Mutual Funds in India) and work under an ARN (AMFI Registration Number). Their job is to suggest the right scheme, help with documentation and provide investment related information to their clients.
Types of Mutual Fund Distributors
- Institutional Distributors: Such as NJ Wealth, Prudent, ICICI Securities etc. who do sell mutual funds on a large scale.
- Bank Distributors: Such as banks like SBI, HDFC, Axis who have the advantage of branch network.
- Fintech Platforms: Such as Groww, Zerodha, ET Money which sell mutual funds through digital channels.
- Individual ARN Holders: Independent financial advisors who provide personal guidance on a small scale.
Top 10 Mutual Fund Distributors in India 2025
| Distributor Name | Distributor Type | AUM (FY 25) (₹ Cr) | Coverage & Highlights |
|---|---|---|---|
| State Bank of India | Bank | 1,73,756 | Largest network, deep penetration among rural investors |
| NJ Wealth | National Distributor | 1,60,999 | 33,000+ ARN holders, digital and in-person support |
| HDFC Bank | Bank | 1,19,188 | Extensive branch network and reliable customer service |
| Axis Bank | Bank | 74,290 | User-friendly app, faster digital growth |
| Prudent Corporate | Institutional Distributor | 69,785 | 31% growth rate, Pan-India branch network |
| ICICI Bank | Bank | 55,749 | Extensive branch network and digital reach |
| Kotak Mahindra Bank | Bank | 46,100 | Focus on HNI and mid-level investors |
| 360 ONE Distribution Services | Institutional Distributor | 29,905 | 75% YoY Growth, App-based wealth management |
| Anand Rathi Wealth | Institutional Distributor | 28,342 | Targeted advice for NRI and HNI investors |
| HSBC Bank | Bank | 26,546 | 18% year-on-year growth |
Overview of the Top Mutual Fund Distributors in India
An overview of the top 10 mutual fund distributors in India is given below:
1. State Bank of India
SBI leads the mutual fund distribution industry in India with an AUM of ₹1,73,756 crore. It offers equity, debt, hybrid and ETF schemes. SBI’s strength is its extensive branch network, which helps it offer investment schemes to every corner of the country—city and village. Their Balanced Advantage and Bluechip Fund are preferred investment choices among common investors.
Read Also: SBI Case Study
2. NJ Wealth
Started in 2000, NJ Wealth has today become the country’s largest fund distribution network with 33,000+ ARN holders and an AUM of around ₹1,60,999 crore. Schemes of many AMCs are available at one place on its platform. The mix of tech-enabled and personal dealing makes it a trusted choice among investors.
3. HDFC Bank
HDFC Bank mutual fund distribution segment, with assets under management of ₹1,19,188 crore, maintains a strong presence in the distribution landscape through its extensive banking channels and reputation for reliable customer service. Its schemes—such as Flexi Cap and Balanced Advantage offer predictable returns. Its digital reach along with its branch network has made HDFC a trusted asset among retail investors.
Read Also: HDFC Bank Case Study
4. Axis Bank
Axis Bank’s mutual fund distribution segment has an AUM of around ₹74,290 crore. This AMC is known as the digital avatar of mutual funds with research-driven equity funds and strong SIP growth campaigns. Bluechip and Midcap are its key identities.
Read Also: Axis Bank Case Study
5. Prudent Corporate
Prudent Corporate, holding ₹69,785 crore in AUM, is noted for its rapid growth rate and robust pan-India branch network. It operates primarily on the IFA network and offers client-customized digital tools. Its presence in Tier‑2/3 cities is steadily growing.
6. ICICI Bank
ICICI Bank’s mutual fund distribution business, with an AUM of ₹55,749 crore, relies on a multi-channel model that combines its extensive branch network with robust digital offerings, delivering mutual fund solutions to a broad spectrum of clients. With funds like Balanced Advantage and Bluechip Equity leading the way, its distribution network offers investors access to a wide range of mutual fund schemes, supported by consistent performance and strong brand trust.
Read Also: ICICI Bank Case Study
7. Kotak Mahindra Bank
Kotak Mahindra Bank The bank’s mutual fund distribution business has an AUM of ₹46,100 crore. The bank’s mutual fund distribution team utilizes the bank’s brand name, branch network and digital channels to effectively reach its client base.
8. 360ONE Distribution (ET Money)
360 ONE Distribution Services reports an AUM of ₹29,905 crore. Recognized for its substantial year-on-year growth, this institutional mutual fund distributor employs app-based wealth solutions and has developed a reputation for technological innovation in serving affluent and HNI clients.
9. Anand Rathi Wealth
Anand Rathi Wealth, with an AUM of ₹28,342 crore in mutual fund distribution business, focuses predominantly on NRI and HNI clients. The firm is acclaimed for its professional research, personalized advice, and broad spectrum of wealth management services, including mutual funds and portfolio management.
10. HSBC Bank
HSBC Bank is among India’s leading mutual fund distributors, managing approximately ₹26,546 crore in AUM as of FY 2023–24. Leveraging its global expertise and strong digital platform, HSBC delivers curated multi-AMC mutual fund solutions to retail and affluent clients
Top 10 Individual Mutual Fund Distributors in India
| Rank | ARN Holder Name | AUM (₹ Cr, FY 2024) |
|---|---|---|
| 1 | Gaurav Ganpule | ₹1,887 Cr |
| 2 | Ganesh Shanbhag | ₹1,494 Cr |
| 3 | Ranjan Panigrahi | ₹1,251 Cr |
| 4 | Sadashiv Phene | ₹1,079 Cr |
| 5 | Mukund Sheshadri | ₹1,020 Cr |
| 6 | Hari Kamat | ₹979 Cr |
| 7 | Jennifer Mendes | ₹892 Cr |
| 8 | Sandeep Borse | ₹884 Cr |
| 9 | Harish Kotian | ₹829 Cr |
| 10 | Ajay Mishra | ₹828 Cr |
Read Also: Mutual Fund Fees & Charges in India 2024
How to Choose the Right Distributor in
As important as it is to invest in mutual funds, it is equally important to choose a reliable mutual fund distributor. In 2025, market competition and the growing number of digital platforms have given investors many options. But the right choice is the one that strikes a balance between your investment goals, convenience, and cost.
- Verify ARN registration and validity : All mutual fund distributors must be registered with AMFI (Association of Mutual Funds in India). Verify whether the distributor’s ARN number is valid and active by visiting the AMFI website.
- Experience and quality of investment advice : Choose a mutual fund distributor who can provide you additional services like goal-based investing, risk profiling, and periodic portfolio reviews. Years of experience and client retention are important indicators.
- Digital platforms : A good mutual fund distributor gives you an easy-to-use digital platform — where you can track your funds, manage SIPs, and easily buy or sell when needed. Also look at the security features and user interface of the app.
- Reporting and data transparency : Does the distributor regularly provide you with Consolidated Account Statement (CAS), Portfolio Report and Tax Summary? All these reports help in your financial planning and monitoring.
- Client support and response time : A professional distributor should respond to your queries in a timely manner. Check if they have a dedicated support team and whether they provide regular follow-ups and updates.
- Variety of product coverage and advice : The distributor should not be limited to just 1–2 AMCs. It is better to find a distributor who provides you access to mutual funds from multiple AMCs.
Read Also: Mutual Fund Taxation – How Mutual Funds Are Taxed?
Conclusion
Mutual fund investing offers a wide range of choices, but not all are aligned with your financial goals, risk profile, or time horizon. That is why it is important to select a reliable mutual fund distributor who understands your needs and helps you make better decisions. Advice, platform features, and tracking tools—all these aspects are now as important as the performance of the mutual fund itself. So, select your mutual fund distributor carefully and begin investing in mutual funds today after consulting your investment advisor.
| S.NO. | Check Out These Interesting Posts You Might Enjoy! |
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| 1 | History of Mutual Funds in India |
| 2 | Mutual Fund Factsheet: Definition And Importance |
| 3 | What is an Open-Ended Mutual Fund & How to Invest in it? |
| 4 | How to Invest in Mutual Funds? |
| 5 | Equity Mutual Funds: Meaning, Types & Features |
Frequently Asked Questions (FAQs)
What is a mutual fund distributor?
A mutual fund distributor is a person or institution that acts as an intermediary, helping investors buy, sell, and manage mutual fund investments.
How do I check if a distributor is registered?
To check whether the distributor is registered or not, you can visit the AMFI website and enter their ARN number and verify the details.
Are online platforms better than traditional distributors?
If you prefer digital convenience and investing on your own, then online platforms may be a better option.
Do mutual fund distributors charge fees from investors?
No, in the regular plans their commission is paid by the AMC, no separate charges are taken from the investor.
Can I switch my mutual fund distributor later?
Yes, you can change your distributor or transfer to a direct plan anytime you wish.
