Hyderabad, 28 September 2023: In Hyderabad, there are a total of 1037 distributors empaneled with NJ, with 193 of them being women and 844 being male.
Mutual funds have become a crucial part of investments, wealth building, and regular savings. Despite the growing awareness of mutual funds, it is estimated that only 2.6% of India's population has invested in mutual funds, as per the Association of Mutual Funds In India (AMFI). Further, the mutual fund penetration is also significantly lower than other countries' penetration rates when seen as the ratio of mutual fund AUM to the GDP ratio, where India’s standing is at a mere 17%, compared to the US, France, and the UK's 140%, 80%, and 67%, respectively (AMFI & World Bank, 2021).
The number of mutual fund distributors in India is also a matter of concern. Currently, there are only 1.31 lakh distributors, which means less than one distributor for every 10,000 individuals (AMFI, 2023). NJ Wealth, one of the largest mutual fund distributors in India, has been playing an active role in getting more people to join the mutual fund distribution business and see it as a promising business opportunity. Today, NJ Wealth has 32,500+ active distributors spread across India who are working towards spreading financial awareness and providing access to mutual funds to the masses.
The geography, the diversity and the disparity in terms of financial literacy and access to new-age financial products is a big challenge in India. However, this is also an opportunity for aspiring entrepreneurs and the youth of the country to become mutual fund distributors and promote financial inclusion to potential investors. India is today poised to take a giant leap in transforming its economy and the markets, and the vision ‘Amrit Kaal’ will extend to also how people will save and invest. The encouraging growth of the industry in recent years is just the beginning. What is needed today is for more youth to see the opportunity in the transformation waiting to unfold in the coming decades and pursue mutual fund distribution as a career opportunity. For investors, the stage is already set, and we only hope to see more and more people participating in India’s growth story with mutual funds.