Big churn in mutual funds

61-90 days

IDBI Capital Market Services

25.5

74.6

ABN Amro Bank NV

20.8

48.4

IDBI Bank

14

46.1

SBI Capital markets

16.7

41.6

Standard Chartered

15.3

35.5

NJ India Invest

18.3

35.5

SPA Capital Services

17.2

35.3

Bajaj Capital

16.3

32.7

Karvy Stock Broking

12.8

31.1

0-30 days

61-90 days

India Infoline

8.8

26

Birla Sunlife Distribution

9.3

21.9

JM Morgan Stanley

10.7

20.7

Citibank NA

7.3

20.4

Kotak Mahindra Bank

7.9

18.7

HSBC

8.3

17.9

HDFC Bank

4.8

17.8

ICICI Bank

4.4

15.3

Kotak Securities

4.5

14.6

Anand Rathi Securities

1.4

12.3

DSP Merrill Lynch

5.0

8.6

This data is only for equity and balanced funds

 About 30 per cent were redeemed within three months and nearly 50 per cent within a year.  The top churners during the year were big banks apart from several institutional brokers and distributors.  Among the top 20 distributors on the basis of sales, the top churner has been IDBI Capital Market services, which collected Rs 376 crore during the financial year while clocking redemptions worth Rs 357 crore.  Two distributors