MF distributors' income drops 23% to Rs 3647 crore in FY'16

Mutual funds paid 497 large distributors ₹3647.63 crore by way of gross commissions in 2015-16, a year-on-year drop of 23 per cent from the preceding financial year. This is evident from the data compiled from industry body AMFI from all the AMCs. SEBI had, in 2011 directed individual asset management companies (AMCs) to disclose the total commission and expenses paid each year to their large distributors. All distributors who receive an aggregate commission of more than ₹1 crore from all AMCs or get a fee of ₹50 lakh from single fund house or operate from more than 20 locations, are required to make such disclosures. SEBI in 2012 had also asked fund houses to make additional disclosures regarding distributor-wise gross inflows, net inflows, average assets under management and the ratio of AUM to gross inflows on th