(The AMCs mentioned in the blog are as per Assets Managed (as of 31-Mar-2024))
It is indeed a brilliant plan to have a financial adviser in charge of your money, and this is particularly relevant if you don’t understand the functions and workings of the stock market, and that is when a mutual fund investing corporation or an Asset Management Company (AMC), walks in to save the day.
Mutual Fund AMCs, also known as Asset Management Companies, invest their client’s money in a variety of asset classes.
This blog contains a list of the largest and the top Mutual Funds in India, their Assets Under Management (AUM), and other pertinent information.
Meaning of AMC (Asset Management Company)
An Asset Management Company (AMC) is a company that invests financial assets, such as funds and money from investors, companies, or other AMC, in companies that use those assets as a financial investment, operational investment, or any other type of investment to grow the investment.
Following that, the returns are due to the actual investor, with a small portion of the returns held back as AMC fees. Fund houses, money managers, and money management firms are all terms used to describe these entities.
An AMC company may manage several funds with various investment and financial objectives. Fund managers manage these, set the financial and investment goals, assess the risk and reward profile, and then choose an investment strategy.
Meaning of AUM (Assets Under Management)
The total market value of the investments or assets maintained by a mutual fund, hedge fund, wealth management firm, portfolio manager, or other financial services firm is called Assets Under Management (AUM). In other words, assets under management refer to the total amount of money controlled by a person or entity.
In some cases, assets under management refer to the total value of all assets managed by an entity for all clients. For example, AUM stands for Assets Under Management, which refers to the total market value of assets managed for specific clients.
List of Top Asset Management Companies in India 2024
Here is a list of some of the top AMC companies in India-
S.No. | AMC | Assets Managed (as on 31-Mar-2024) |
1. | SBI Mutual Fund | ₹ 919,519.99 crore |
2. | ICICI Prudential Mutual Fund | ₹ 716,867.52 crores |
3. | HDFC Mutual Fund | ₹ 614,665.43 crores |
4. | Nippon India Mutual Fund | ₹ 438,276.85 crores |
5. | Kotak Mahindra Mutual Fund | ₹ 381,239.57 crores |
6. | Aditya Birla Sun Life Mutual Fund | ₹ 315,777.58 crores |
7. | UTI Mutual Fund | ₹ 286,593.27 crores |
8. | Axis Mutual Fund | ₹ 266,826.23 crores |
9. | DSP Mutual Fund | ₹ 138,986.33 crores |
10. | Bandhan Mutual Fund | ₹ 134,908.07 crores |
New entrants in the AMC World in India
1. | Groww Mutual Fund |
2. | White Oak Mutual Fund |
3. | Bajaj Finserv Mutual Fund |
4. | Helios Mutual Fund |
5. | Shriram Mutual Funds |
6. | Zerodha Mutual Funds |
Overview of the Top 10 AMCs in India
Here is an overview of some of the AMCs that are top in India-
1) SBI Mutual Fund
As a joint venture between the State Bank of India (SBI) and the AMUNDI, the SBI Mutual Fund was founded in 1987. The fund house uses SBI's extensive distribution network and AMUNDI's fund management competence to provide top-tier service and solutions to all its investors.
Along with overseas funds, the fund house provides a wide selection of domestic mutual fund schemes in the equity, debt, and balanced categories.
The goal of SBI Mutual Fund is to become the most dependable and admired asset manager. The fund house's primary goal is to beat the benchmark through actively managing client portfolios and research-supported investment in Indian stocks.
Since its launch, it has made its place as a Top AMC in India and is also known as the largest mutual fund in India.
2) ICICI Prudential Mutual Fund
In 1998, ICICI Bank and Prudential Plc formed a joint venture (JV) to create ICICI Prudential Mutual Fund. The fund house takes advantage of its parent companies' and sponsors' extensive financial knowledge and experience. It is one of the oldest and most profitable Mutual Funds. ICICI Prudential is widely known as the best AMC in India.
To become one of the top AMCs in India, it has leveraged a fantastic combination of investing competence, resource capacity, and process focus.
It provides a wide selection of mutual fund schemes in the equity, debt, and hybrid categories, along with exchange-traded funds and solution-oriented schemes.
The fund company makes an effort to give its investors a positive investing experience that will make building wealth easier.
3) HDFC Mutual Fund
A joint venture between the Housing Development Finance Corporation Limited (HDFC) and Standard Life Investments Limited created the HDFC Mutual Fund in 1999 (SLI).
With the aid of specific and easily accessible investment products, methodical transactions, remarkably steady administration, and a vast distribution network, the fund house has become one of India's largest and most lucrative mutual fund managers.
Along with fund of fund schemes and exchange-traded funds, it provides a full range of mutual fund schemes in the equity, debt, and hybrid categories.
The company aims to offer successful investment options so investors can invest without being concerned about market volatility. It is also known as the top Asset Management Company in India.
4) Nippon India Mutual Fund
In 1995, Nippon India Mutual Fund was founded to introduce fund schemes that would allow investors to invest in a variety. It is India's largest and fastest-growing AMCs in terms of AUM.
The fund house provides a wide selection of exchange-traded funds, retirement funds, and mutual fund schemes in the equities, debt, and balanced categories.
With a focus on customer service and a culture of good corporate governance, it strives to become a respected wealth generator on a worldwide scale.
Some of its endeavours to provide value to investors include innovative product offers and customer service programs. As a result, Nippon India is considered the best asset management company in India.
Explore more AMCs at Groww here.
5) Kotak Mahindra Mutual Fund
To provide mutual funds that meet the needs of investors with different risk-return profiles, Kotak Mahindra Mutual Fund was founded in 1998. It started small but has become one of India's top AMCs.
The fund house has produced many investor folios thanks to an exceptional selection of investment products across asset classes. Along with fund of fund schemes and exchange-traded funds, it provides a broad selection of mutual fund schemes in the equity, debt, and hybrid categories. Moreover, to ensure customer satisfaction, the fund firm works to consistently outperform the benchmark across all of its products.
In addition, it strives to be an ethical competitor in the Indian mutual fund market. As a result, it is touted as a critical market member and has been in the Top 10 AMC in India 2024 for the past many years.
6) Aditya Birla Sun Life Mutual Fund
A joint venture between the Aditya Birla Group and Sun Life Financial Inc. of Canada resulted in the creation of Sun Life Mutual Fund in 1994. Since then, it has expanded to rank among India's largest AMCs.
The fund house has generated many investor folios thanks to an excellent combination of broad reach, innovative product offerings, and reliable investment performance.
The fund house provides a wide selection of mutual fund schemes in equity, debt, and balanced funds, in addition to fund of fund schemes and offshore funds.
7) UTI Mutual Fund
UTI Mutual Fund was founded in 2003 to give investors chances to build wealth via participation in the capital market. With industry-led best practices, a long-term outlook, and a robust business strategy, the fund company has emerged as one of India's top AMCs.
In addition to domestic mutual funds, portfolio management services, international business, retirement solutions, venture funds, and alternative investment funds are among the several investment options it provides.
The fund house strives to provide best-in-class services focusing on country growth while continuing to be the most popular mutual fund.
8) Axis Mutual Fund
Axis Mutual Fund provides top-notch financial and investing solutions with a strong focus on risk management and planning, which has been a critical factor in helping the fund house to acquire a sizable number of investor folios.
A wide range of mutual fund schemes covering the equity, debt, and hybrid categories, as well as fund-of-fund schemes and special circ*mstance funds, are among its intelligent products.
Customer-focused service, a more straightforward digital investment procedure, and the finest of fund products have helped Axis Mutual Fund expand its reach farther into the country.
9) DSP Mutual Fund
As a joint venture between Merrill Lynch Investment Managers and DSP Merrill Lynch Ltd., DSP Mutual Fund was founded in 1996. The fund company has developed since it was launched into one of India's top AMCs.
Along with international funds of funds, exchange-traded funds, and close-ended funds, it provides a wide selection of mutual fund schemes in the equity, debt, and hybrid categories.
The fund house has been able to establish a significant number of investor folios because of its dedication to prioritizing the interests of its customers and its focus on delivering outstanding performance.
10) Bandhan Mutual Fund
In terms of Asset Under Management (AUM), Bandhan Mutual Fund (formerly IDFC Mutual Fund) is one of the biggest Mutual Fund firms in the nation.
It was set up on 13 March 2000. Its leading team has Ms Veena Mankar as the Chairman and Mr Vishal Kapoor as the CEO/MD.
IDFC Asset Management Company was acquired by the Bandhan Mutual Fund, which includes Bandhan Financial Holdings Limited, GIC, and ChrysCapital. Note Bandhan holds 60% of the acquired entity, along with having control of operations. The rest two will hold 20% each in the Asset Management Company.
The fund house, which has a robust research division, provides a wide selection of mutual fund schemes.
Conclusion
This was the list of the Top 10 AMCs in India. We hope this article helps you get a better picture of the meaning and workings of these top AMC in India.
Before investing in any Mutual Fund, it is essential to study it in detail because hasty decisions may lead you toward experiencing the opposing sides of investing. You can even use an Online SIP Calculator to project your returns on mutual fund investments that are made through SIP.
Thus, to become a lead player in the Investing game, ensure you have all of your facts straight and a detailed understanding of all the necessary things.
Happy Investing!
Disclaimer: This blog is solely for educational purposes. The securities/investments quoted here are not recommendatory.
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Research Analyst - Aakash Baid
