List of Top Mutual Fund Distributors in India 2025

Mutual funds have found special favour in India from diverse investors including first-timers in the market and more seasoned players. One reason for this is the simplistic nature of the product. Mutual funds are easy to understand, are transparent and require no special expertise other than basic know-how. The second reason is the reach and availability of schemes through different types of mutual fund distributors.

In this article, we will understand what a mutual fund distributor is, the top mutual fund distributors in India, and how you can select the best mutual fund distributor platform.

What is a Mutual Fund Distributor?

A Mutual Fund Distributor or MFD is an intermediary between mutual fund AMCs (Asset Management Company) and investors. They distribute mutual fund schemes to the public on behalf of various mutual fund houses and earn commissions. MFDs are registered and regulated by SEBI and AMFI. 

MFDs go beyond only selling the schemes, they work as long-term partners and financial advisors to investors by providing guidance and support in investing.

50 Best Mutual Fund Distributors in India 2025

The Indian mutual funds industry has grown in leaps and bounds in the last decade, from an AUM (Asset Under Management) of Rs. 10.51 trillion in 2014 to Rs. 66.93 trillion in 2024, a six-fold growth.

There were 22.50 crore mutual fund accounts or folios in existence as of December 2024, with 17.90 crore folios coming from retail customers.

This strong participation from the retail segment is largely due to widely available information, awareness, and product distribution by mutual fund distributors via various platforms such as physical branches, individual advisors, and online platforms and apps. In the digital world, investing in mutual funds is a simple swipe and distributors play an important role in wealth creation for investors.

Let us look at the largest AMFI-registered mutual fund distributor list to give you an overview of the types of distributors in India and their average AUM for FY 2023-24.

The top 10 mutual fund distributors in India are a mix of Banks, National Distributors, and boutique wealth firms.

State Bank of India is the largest mutual fund distributor in India complemented with the largest branch banking network in the country and reach in the most remote parts of the country.

Surat-based financial product distribution platform NJIndiaInvest holds the second spot with mutual fund AUM of over Rs. 1,60,000 cr. Other than this, publicly listed financial services group Prudent Corporate Advisory and boutique wealth management company 360 ONE Distribution Services also feature in the list of top 10 mutual fund distributors in India.

Private banks feature in the list of top 20 mutual fund distributors in India with HDFC Bank, AXIS Bank, ICICI Bank, ICICI Securities, Kotak Mahindra Bank, HSBC Banks, Standard Chartered, HDFC Securities, Deutsche Bank in the list of India’s top mutual fund distributors.

These top 50 MFDs manage over 11 lakh crore AUM, more than 20% of total mutual fund assets.

With this size of assets being managed by mutual fund distributors, let us understand what these entities are and how you can use their services.

Benefits of Becoming an MFD with Rupeezy

Rupeezy is a growing fintech that offers mutual funds, stocks, derivatives, and commodities through its comprehensive investment platform. Rupeezy has a market presence of over 20 years and serves more than 1.5 million traders and investors across India.

• Rupeezy app offers 1500+ mutual fund schemes from 40+ AMCs. Advanced analytical features such as MF Lab, Risk Return Graph, Portfolio Overlap make DIY investing simple and fun.

• 100% Commission: Rupeezy offers 100% commission sharing and commissions at 0 registration fees.

• Free MFD Training Masterclass: When you register with Rupeezy as MFD, you get a free two-week masterclass covering NISM MFD Certification, equity and mutual funds concepts, business expansion, client acquisition, and building social media presence.

• Business Support: Rupeezy will support you with quality leads every week to help you rapidly grow your business to 100+ clients quickly.

• All-in-1 mobile dashboard: Tracking your client portfolio, leads and payouts is simple with an All-In-One dashboard and single-screen view of your business.

• Dedicated Relationship Manager: A dedicated Rupeezy RM will support you for quick client query resolution and marketing assistance.

• Full ARN Fees Refund: Avail special offer of Rs. 5,000 on attaining Rs. 20 lakhs AUM or Rs. 50k SIP in 6 months.

• Wide Product Range: You can earn higher commissions by adding more products from Rupeezy such as stocks, F&O, commodities, etc.

How to Become an MFD with Rupeezy

• Download the Rupeezy Partner mobile app now to onboard with us

• Get started and enrol with Rupeezy

• Pass the NISM Series V-A certificate exam

• Get the ARN-AMFI Registration Number

• Help clients buy mutual funds and get paid for it

How MFDs at Rupeezy Help You With Your Mutual Funds Investments

Rupeezy MFD is your one-stop mutual fund investment advisor who assists you in portfolio assessment to design a financial plan and selecting the right product. MFD helps you in:

Assessing Requirements

MFDs do not simply sell mutual funds schemes but engage with you to assess your current investments, risk appetite, financial goals and expectations. This helps them decide on suitable asset classes and the right mix of schemes for you.

Investment Planning

MFDs explain and shortlist different categories of funds, their benefits, performance, risks, and help you select the right funds. They also explain the charges and other costs clearly.

Support

MFDs help you in opening an account with Rupeezy and investment process. MFDs also maintain your records safely and help with any queries or changes in personal details.

Review

MFDs periodically review your portfolio to compare performance with benchmark and other schemes and share your portfolio reports. They advise any action to be taken such as adding a new fund or switching a scheme.

Who should Invest through MFDs?

New investors with no experience in the market often get baffled by complex investment jargon, multiple choice in schemes and AMCs, fund categories, and noise from the media. This leads to delayed or ill-informed investment decisions. 

New Investors

A new investor must take the services of a qualified and experienced MFD to invest methodically. Mutual funds have many choices available for different investment needs. There is no one-size-fits-all product and a qualified MFD can help you design the best portfolio. 

Time Constraints

Busy professionals with limited time to manage their investments take the services of MFDs to conduct adequate research into various schemes and design a suitable portfolio of funds to fit into unique financial needs. MFDs also help them with periodic portfolio review and rebalancing as per the market situation.

Financial Planning

Investors looking for a long-term investment plan with multiple goals in the future such as children’s education, retirement, home purchase, etc. require expert knowledge and planning and not just a one-time mutual fund investment. MFDs help investors manage their investments over the long term with regular overview and changes.

Factors to Consider When Choosing a Mutual Fund Distributor

Here are some important points to note so that you can choose the best mutual fund distributor platform for your mutual fund investments:

Professional Experience

MFDs are regulated by SEBI and AMFI. While choosing an MFD, it is crucial to find out if the MFD is SEBI-registered and AMFI-certified. It is important to check for MFDs credentials and professional qualifications.

Financial Advisory Process

An MFD must take you through the financial planning process before advising any product or scheme. They must make an effort to understand your current financial situation and financial objectives. If an MFD cuts short this process to simply sell a fund quickly, you should be wary of investing with them.

Understanding Risk

Financial markets can be risky due to volatile market conditions, sentiment, macroeconomic factors, global concerns, geo-political issues, etc, especially in the short term. A credible MFD must explain the risk associated with each investment.

Transparency

Mutual funds bear the cost of running and managing the fund and overall operations and distribution. These charges are expressed as expense ratios. MFDs earn commissions, they do not charge anything from investors for their services nor is there any upfront fee. SEBI mandates transparency in explaining charges, commissions, entry-exit loads, etc in the interest of investors. 

Portfolio Review

MFD’s work does not stop at selling a fund to investors, they also keep you informed of any developments in the market affecting your investment. They periodically review and analyse your portfolio and advise appropriate actions.

Digital Platform

In the digital age, MFDs use technology-powered platforms where investors have access to fund relation information, take informed decisions and transactions can be executed online.

Support

Apart from professional experience, evaluate the customer support MFD provides in terms of availability, quality of support, operational issues, handling urgent queries, etc. 

Product Portfolio

Some MFDs also offer a wider choice of products and categories apart from mutual funds. A multi-product distributor can offer you a variety of products such as stocks, bonds, ETFs, commodities, etc as you gain more investing experience.

Direct Mutual Fund vs Distributor Route: Which One is Better?

Conclusion

Mutual Fund Distributors simplify the process of investing in mutual funds with their expertise and experience in managing investments. MFDs handhold investors to the right investment plan suitable for their profile and goals, helping them make well-informed decisions and select the right funds among hundreds of funds in the market.