The Moneycontrol Mutual Funds summit 2024 is the third edition of the hugely successful event held in 2022 and 2023. While the first one ran on the theme of growth “Targeting 100 Trillion”, the event this year lays focus on Mutual Fund Distribution with its theme “How SIPs Are Empowering Bharat”.
Not only does this year’s Mutual Fund summit lay keen emphasis on how SIPs are driving growth in the MF sector, it also has incorporated an aspect of recognition, establishing the Mutual Fund Distributor Awards, honouring the movers and shakers in the MF distribution space.
Retail participation in the financial sector through Mutual Funds can be one of the key drivers in the success story that Viksit Bharat will be, and this initiative acts as a catalyst towards that glorious end goal.
The Power of Mutual Funds in India
To underline the importance of mutual funds in the Indian investments universe, here are three snapshots:
● Mutual fund transactions on a typical trading day in July 2024 showed equity mutual funds seeing gross purchases of ₹11,243.35 crore and net investments of Rs 4,251.79 crore [SEBI].
● There was a record inflow of Rs 34,697 crore into equity mutual funds in May 2024 [Moneycontrol].
● As of June 2024, the Assets Under Management (AUM) of the Indian mutual fund industry reached Rs 61.16 trillion. A six-fold increase in a decade and more than double in the past five years alone [AMFI India].
● From 2021-22 to 2022-23, the Assets Under Management (AUM) from SIPs increased from Rs 5.76 lakh crore to Rs 6.83 lakh crore with SIP AUM reaching approximately Rs 9.31 lakh crore by November 2023.
It is then obvious that SIPs are empowering the retail investors of Bharat in securing their financial futures.
Why Recognising MF Distributors is Essential
No matter how brilliant an MF / SIP, it cannot succeed in the market without a push from Mutual Fund Distributors. These professionals are the primary link between said financial products and investors. They play a crucial role in financial markets by guiding investors through complexities of various investment opportunities in MFs and help shape desired financial futures.
Remove Mutual Fund Distributors from the ecosystem and investors, especially the non-seasoned category would be completely at sea trying to pick the right product, while the industry would be awash with brilliant products without knowing who to sell them to.
It is obvious that the Mutual Fund distributors’ efforts in expanding the mutual fund investor base are vital for the growth and stability of the financial sector.
Therefore, it is necessary to recognise these key players.
Which is what the Moneycontrol Mutual Funds Summit, under its theme "How SIPs are empowering Bharat,” aims to do with the Mutual Fund Distributor Awards.
The Mutual Fund Distributor Awards set a platform to celebrate outstanding achievements in mutual fund distribution across India.
By recognising these distributors, the summit aims to amplify the importance of their contributions to financial literacy, market expansion, and the democratization of wealth creation.
Spotlight on the Award Categories
The 2024 summit features ten prestigious awards, each highlighting different aspects of excellence in the MF distribution space:
- SIP ChampionAwarded for registering the most new SIPs in FY 23-24, showcasing exceptional disciplined investment promotion.
- Distributor of the Year AwardGiven to the MFD with the highest number of new investors onboarded in FY 23-24, highlighting significant market expansion.
- National Distributor AwardRecognizes a National Distributor achieving the highest number of new mutual fund investors in FY 23-24.
- B30 ChampionHonors the MFD managing the largest AUM in cities beyond the top 30 for FY 23-24, noting their role in financial inclusion in emerging markets.
- Bank Accelerator AwardAwarded to the bank that opened the most new mutual fund accounts in FY 23-24, driving financial growth among customers.
- Digital ChampionCelebrates a MFD who executed over 1,000 unique digital transactions in FY 23-24, enhancing investor convenience and engagement.
- Lifetime AchievementPresented to an MFD with over 25 years in the industry, recognizing their dedication and influence on the industry’s growth.
- Naari Shakti AwardCelebrates a female distributor managing the highest AUM across all schemes in FY 23-24, acknowledging her leadership in the industry.
- Youth Investment ChampionRecognizes a young MFD under 25 for onboarding the most investors in FY 23-24, promoting financial literacy and investment among youth.
- Fintech Impact AwardGiven to the fintech platform with the most new investor accounts in FY 23-24, recognizing its significant impact on the industry's digital transformation.
Awarding these top performers not only motivates industry professionals but also sets benchmarks for success and innovation. It draws attention to best practices and inspires others in the industry to strive for excellence.
Celebrating these achievements at the Moneycontrol Mutual Funds Summit provides a platform for acknowledging and rewarding the hard work and contribution of MF distributors that drive the mutual fund industry forward.
Join Us in Celebration
The Moneycontrol Mutual Funds Distributor Awards is not just an awards ceremony; it is a celebration of the spirit of grit, innovation and excellence in the mutual fund industry.
We invite all stakeholders from the mutual fund ecosystem to join us in recognising the remarkable contributions of these champions who drive the industry's growth.
For more details and to view the full list of categories, visit the Moneycontrol Summit Awards page.
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