mutual funds: Prudent surpasses Rs 1 lakh crore in MF assets under management

Prudent Corporate Advisory Services announced that its assets under management (AUM) have surpassed the Rs 1 lakh crore mark as of July 26, 2024. Prudent has become the second non-banking mutual fund distributor to achieve this milestone, representing a fivefold increase in equity AUM over the past five years.The traction of mutual fund distributors towards partnering with technology-led platforms has grown multifold post-COVID.

According to the company, over the past five years, the number of MFDs joining their platform has nearly tripled. Equity AUM has grown at a CAGR of 40% compared to the industry’s 28%. Monthly SIP flow has grown at a CAGR of 26% versus the industry’s 21%, and the number of investors and folios has grown at a 21% CAGR.

Commenting on the milestone, Sanjay Shah, Chairman & Managing Director of Prudent Group, stated, “With only 4.69 crore unique mutual fund investors in a population exceeding 140 crore, the industry’s focus towards ‘Har Ghar SIP’ is set to drive significant growth in these numbers.”

He added, “The most satisfying part of this Rs 1 lakh crore milestone for me is that we are helping over 17 lakh investors achieve financial freedom.”