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Mutual fund industry

Prudent Crosses 1 Lakh Crore AUM Milestone, Becomes 2nd Non-Banking Mutual Fund Distributor to Achieve This Milestone

Strategic Insights

— 1 min read

Prudent Corporate Advisory Services Limited (Prudent) has announced that its Assets Under Management (AUM) have surpassed the 1 Lakh Crore mark as of July 26, 2024. This significant achievement represents a 5x increase in Equity AUM over the past five years. Prudent has grown its industry ranking for mutual fund commissions received from 8th place five years ago to an impressive 4th place, surpassing some of the nation's largest banks. The company attributes its growth to its network of over 30,000 partners and more than 17 lakh investors.

Key Takeaways:

  • Prudent has achieved a 5x increase in Equity AUM over the past five years, making it the 2nd non-banking mutual fund distributor to achieve this milestone.
  • The company has grown its industry ranking for mutual fund commissions received from 8th place five years ago to 4th place, surpassing some of the nation's largest banks.
  • Prudent's network of over 30,000 partners and more than 17 lakh investors has contributed to the company's growth.
  • The monthly SIP flow has significantly grown to Rs 800 crores in July 2024.
  • Prudent's comprehensive platform offers mutual fund products, as well as insurance, broking, PMS, AIF, Peer-to-Peer Lending, Corporate Fixed Deposits, Primary & Secondary Bonds, and Smallcase.
  • The company's integrated approach strengthens its partnership with MFDs and empowers them to expand their revenue streams.
  • Distributors play a pivotal role beyond investment facilitation, assisting clients in defining financial goals, assessing risks, selecting suitable assets, and providing behavioral coaching to ensure clients stay on course with their financial plans.
  • Distributors manage 79% of the industry's individual equity AUM.

Statistics:

  • Prudent's Equity AUM has grown at a CAGR of 40% versus the industry's 28% over the past five years.
  • The number of MFDs joining Prudent's platform has grown by almost 3x in five years.
  • The monthly SIP flow has grown at a CAGR of 26% versus the industry's 21% over the past five years.
  • The number of investors and folios has grown at a CAGR of 21%.

Sources:

  • Ahmedabad, July 29 -- Prudent has crossed 1 Lakh Crore AUM Milestone, (Business Wire India)

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