8 out of top 10 Mutual Fund Distributors by Commission are Banks. With more than 3200 cr of commission income in between them.
Strategy is Highly Biased ?
State Bank of India makes 99% of its mutual fund commission income from distributing schemes of SBI Mutual Fund.
SBI seems to have picked up distributing mutual funds only in last 3 years.
In last 1 year commission income has gone up from 178.7 cr to 557.9 cr !!!
ICICI Bank gets 73% of the mutual fund commission income from distributing ICICI Prudential Mutual Fund.
But ICICI Securities only gets 18.5% of the commission income by distribution of ICICI Pru MF. Is it because one cannot buy Regular Plans through ICICI Direct but account holders have a choice to select their own preferred AMC ?
|ICICI Securities Limited||316.53||58.45||18.5|
Websites of respective Mutual Funds