In order to add 50,000 new mutual fund distributors over the next three years, the NSE, the top seven Asset Management Companies, and the Centre for Investment Education and Learning have joined hands together.

 

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This novel initiative will be carried out by ExpertMFD, which has built up a holistic infrastructure for nurturing financial entrepreneurs and mutual fund distributors through its platform. This is a first-of-its-kind move taken by seven mutual funds: Axis MF, Birla Sun Life MF, ICICI Prudential MF, L&T MF, Nippon India MF, Sundaram MF, and SBI MF who manage over two-thirds of the total mutual fund industry AUM. ExpertMFD will offer end-to-end support to anyone desiring to make their career as a financial distributor. The single requirement for joining the mutual fund industry is to have a robust understanding of the subject. Apart from having the flexibility to work from home, this job also offers recurring income opportunities.

The mutual fund industry maintains Rs 32 lakh crore assets and has merely a single distributor for every 17,000 investors currently, this indicates a huge possibility of growth. Topmost individual mutual fund distributors gain over Rs 1 crore in annual gross commissions. According to the experts, there are roughly 2.3 crore unique mutual fund investors in India. Yet, the growth of mutual fund distributors has not kept pace with the growth of assets in the industry.

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