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Key Highlights
- 2nd largest non-banking mutual fund distributor (based on commissions earned in FY22)
- Scales to changing into 5th largest participant total in FY2022, from being 12th largest in FY2017 (based on commissions earned)
- Commissions grew by 35% CAGR v/s Industry Growth Rate of 16% (FY2017-22)
- AUM grew by 41% CAGR v/s Industry Growth Rate of 15% (FY2017-22)
- Market share in Total Commissions stands at 4.23% in FY2022 v/s 1.98% in FY2017
AHMEDABAD, India, Sept. 6, 2022 /PRNewswire/ — Based on the newest information printed by the Association of Mutual Funds in India (AMFI), Prudent Corporate Advisory Services Limited (Prudent) proclaims that it has develop into the 5th largest Mutual Fund Distributor based on commissions earned throughout FY2022. It can also be now the 2nd largest non-banking mutual fund distributor (based on commissions earned), overtaking established legacy gamers.
Prudent’s AUM grew at 41% CAGR in the FY2017-22 interval versus the business CAGR of 14.5% for the identical interval. Backed by a stupendous progress in AUM, commissions grew at the quickest tempo, pipping the progress fee of the high 4 gamers. Commission revenue at ₹440.9 crore by the finish of FY022, has elevated by 35% CAGR throughout FY2017-22 interval versus an business progress fee of 16%. Prudent’s market share of the business’s fee revenue has elevated from 1.98% in FY2017 to 4.23% in FY2022.
Commenting on the outcomes, Mr Sanjay Shah, Chairman and Managing Director, stated, “The improvement in our overall ranking is testimony to our agility in our abilities and offerings. We started our journey in 2000 and within two decades, we are part of India’s elite top 5 peer group. This is a remarkable feat, given how fiercely competitive the Industry is, and is the ultimate validation of our business model over the years. Our whole team, including our MFD partners, have been the driving force behind this meteoric growth trajectory. Currently, there is a significant under-penetration of MFDs within the country. As on 31 March 2022, while there are almost 25 lakh insurance agents in the country, the count of AMFI Registration Number (ARN) holders is just 1.16 lakh. Consequently, as more MFDs join the industry, we expect incremental benefits to accrue to us and we are extremely optimistic about the future of our business. The in-organic opportunities, coupled with a strong cult towards systematic investment into mutual funds, give us good growth leeway to reach the Rs 1,00,000 crore AUM mark in the next four years. We believe our framework, approach and strategy will create outstanding value for all our stakeholders in coming years.”
About Prudent Corporate Advisory Services Limited
Prudent Corporate Advisory Services Limited (NSE: PRUDENT) (BSE: 543527) Prudent Corporate Advisory Services Limited (Prudent) is a retail wealth administration providers group based in India. The Company is amongst the high mutual fund distributors relating to property below administration (“AUM”) and fee acquired. With its distinctive business-to-business-to-consumer (“B2B2C”) business mannequin, and thru its technology-enabled, complete funding and monetary providers platform, Prudent supplies end-to-end options important for monetary merchandise distribution to people, corporates, excessive internet value people (HNIs), and extremely HNIs in India.
The Company works by 113 places in over 20 states and has a sturdy digital presence. It has advanced into a number one and revered distributor of mutual funds, insurance merchandise, stockbroking, portfolio administration schemes, unlisted securities, bonds/fastened deposits, various funding funds, and nationwide pension schemes.
Today, with a crew power of 1,070+ extremely expert professionals and 23,760+ well-trained and certified channel companions, Prudent is certainly one of India’s fastest-growing monetary providers teams. Prudent Corporate Advisory Services Limited was based in 2003 and is headquartered in Ahmedabad, India.
For extra info, please go to our site www.prudentcorporate.com.
Forward-Looking Statement:
Certain statements on this doc could also be forward-looking statements. Such forward-looking statements are topic to sure dangers and uncertainties like regulatory modifications, native political or financial developments, technological dangers, and lots of different components that might trigger our precise outcomes to vary materially from these contemplated by the related forward-looking statements. Prudent Corporate Advisory Services Ltd is not going to be chargeable for any motion based on such statements and undertakes no obligation to publicly replace these forward-looking statements to mirror subsequent occasions or circumstances.
