Having a financial adviser managing your finances is an ingenious idea, especially if you do not know how to operate the stock market, and this is where a mutual fund investment or an Asset Management Company (AMC) comes into the picture.
The Asset Management Companies also called Mutual Fund AMCs utilize the funds of their clients in different classes of assets.
This post has covered the largest and top Mutual Funds in India, their Assets Under Management AUM, and also related information.
Definition of Asset Management Company
An Asset Management Company (AMC) refers to a type of corporation that manages financial assets through buying and managing among others, the funds and money of investors, other companies, or other AMCs, in enterprises that deploy those assets for the purposes of financial, operational, or any other type of investments, with a view to maximizing the returns on the investments.
Subsequently, the residual returns’ amounts become payable to the conclusive investor while a portion of the returns is usually withheld in the form of AMC charges. Such organizations are also known as fund houses or money management firms.
One AMC may operate different funds with different purposes and objectives of the finance. These are handled and administered by the fund managers who also determine the objectives, evaluate the risks and returns, and then formulate the investment approach.
The definition of AUM (Assets Under Management).
Assets Under Management (or AUM) is defined by the total market value, which is applied to the investments or assets that are held either by a mutual fund, a hedge fund, a wealth management company, a portfolio management entity, or any other financial management company. In simple term assets under management mean the total funds handled by an individual or an organization.
At times, assets under management will also mean the aggregate value of all the assets managed by the said institution for all its clients. For example, assets under management, AUM, denotes the market value of holdings that are managed for particular clients.
Ranking of Best Asset Management Companies in India in 2024
Following is the list of few of the AMCs 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. | Mirae Asset Mutual Fund | ₹ 1,73,787 crores |
| 10. | DSP Mutual Fund | ₹ 138,986.33 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 |
Top 10 AMCs in India – Synopsis
Here is a synopsis of some of the AMCs which are the best in India-
1) SBI Mutual Fund
SBI AMUNDI Asset Management was established as one of the very first joint ventures in the Mutual Fund industry in India between State Bank of India (SBI) and AMUNDI in the year 1987. Therefore, the fund house benefits from SBIs vast distribution channels and AMUNDI’s fund management expertise to offer the best services and solutions to all its clients.
The fund house also invests in overseas funds and offers a range of domestic mutual fund schemes in equity, debt, and balanced funds.
SBI Mutual Fund, endeavours to be the most trusted and respected asset management company. The core focus of the fund house is to overcome the benchmark through the active management of the investor’s portfolio and informed strategic investment in Indian equities.
It has been one of the Top AMCs in India right from its inception, and it is also the largest mutual fund in the country.
2) ICICI Pru Mutual Fund
ICICI Prudential Mutual Fund is a joint venture between ICICI Bank and Prudential Plc which was established in 1998. The fund house is able to make use of the wealth of financial knowledge and experience provided by the parent companies and sponsors. It is the one of earliest and bulkiest Mutual Fund. ICICI Prudential is well known as top AMC in the country.
In its quest to go beyond that, it has, out of necessity, drawn on an extraordinary mix of investment skill, capacity and process, so as to emerge as one of the leading AMCs in the India.
It offers a large number of mutual fund schemes in equity, debt and hybrid, as also exchange-traded funds and solution-oriented schemes.
The fund company endeavours to provide all its investors an enjoyable experience of investing which in turn would help in making the process of wealth creation easier.
3) HDFC Mutual Fund
HDFC Mutual Fund was conceived in 1999 as a result of a joint partnership between HDFC and SLI, an associated company of abrdn plc.
The growth of the fund house has been aided by targeted and reasonably priced investment services, skilful operations, very solid management, and a strong presence of the business in the virtual world. Today, this fund house is one of the largest mutual fund houses in India and is arguably the most profitable.
In addition to fund of funds and exchange traded funds, it offers a complete range of the equity, debt and hybrid mutual fund schemes with various sub categories.
The organization has a vision to provide investment options that will be effective for the investors allowing them to invest without any fear of the market fluctuations. It is also recognized as the best Asset Management Company in India.
4) Nippon Iindia Mutual Fund
Nippon India Mutual Fund, established in 1995, primarily aims at launching fund schemes for different classes of investors. It is a leading and growing AMCs in India with respect to Assets under management.
This fund house has extensive offerings with a range of exchange traded funds, retirement funds and various mutual fund schemes for equities, debt and balanced categories.
Fuelled by the commitment to customer service and coupled with a positive culture of corporate governance, it seeks to earn the reputation of being an efficient wealth creator, on a global scale.
Some of its endeavours to provide value to investors involve innovative product offerings and customer service programmes. Hence, Nippon India is regarded as the best asset management company in India.
5) Kotak Mahindra Mutual Fund
The year 1998 marks the establishment of Kotak Mahindra Mutual Fund with the inflated aim of providing mutual funds that cater for varied risk and return profiles of investors. It propelled into growth slowly but now is one of the leading AMCs in India.
The AMC has created tons of investor folios as a result of the entrepreneurial dash investment products in all classes of assets. In addition to fund of fund schemes and exchange-traded funds, it offers a wide range of mutual fund schemes including equity, debt and hybrid categories. Also, the fund house aims to keep the clients happy by trying to provide returns above the benchmark for all the products offered to investors.
Moreover, it aims at playing a fair game as far as competition is concerned in the Indian mutual fund industry. Hence, it is regarded as of paramount importance in the economy and for many consecutive periods held the position of Top 10 AMC in India 2024.
6) Aditya Birla Sun Life Mutual Fund
Sun Life Mutual Fund began its life in 1994 as an entity which came as a consequence of the merger of Aditya Birla Group of India and Sun Life Financial Inc of Canada. Thereafter, it has diversified and now It is now one of the largest AMCs in India.
The fund house has successfully developed a number of investor folios as a result of a very potent combination of wide distribution, creative product mix, and consistent investment performance.
The fund house offers a variety of mutual fund schemes in equity, debt, and balanced funds offers in addition to fund of fund schemes and offshore funds.
7) UTI Mutual Fund
Investors’ wealth creates from the capital market was the reason behind the establishment of UTI Mutual Fund in 2003. Owing to adherence to industry best practice, long view and stronger business approach, the fund company has become one of the best Asset Management Company in India.
It also offers several investment electronic aids, including but not limited to, domestic mutual funds, portfolio management services, international business, retirement solutions, venture capital funds, and alternative investment funds.
The fund house endeavours to ensure that it delivers the very best of services with an emphasis on growth of candidate countries, all this while maintaining as the leading mutual fund in the country.
8) Axis Mutual Fund
One of the reasons why the fund house has been able to garner a large number of investor folios, is the emphasis in risk management and careful planning. This characteristic comprehensively describes Axis Mutual Fund’s financial and investment solutions.
Intelligent products include an extensive portfolio of mutual fund schemes such as equity funds, debt funds, hybrid funds, fund of funds schemes, and even special situation funds.
The best of fund products, a simpler digital investing process, customer-oriented service is what has led to the further penetration of Axis Mutual Fund in the country.
9) Mirae Asset Mutual Fund
Mirae Asset Investment Trust Mutual Fund is a subsidiary of the Mirae Asset Financial Group, a global financial services corporation based in South Korea. In India, this SWAM is managed by Mirae Asset Investment Managers (India) Pvt. Ltd. which was incorporated in the year 2007.
The company provides various mutual fund schemes in equity, debt and hybrid categories to serve the diverse needs and risk appetites of the investors.
Mirae Asset Mutual Fund widely known, is research oriented, and aims to achieve consistent FT performance over the long-term through active management of the fund across different asset classes.
10) DSP Mutual Fund
Founded in 1996 as a combination of Merrill Lynch Investment Managers and DSP Merril Lynch Ltd. DSP Mutual Fund provides a platform for investors to pool their resources and invest, managed by professionals.
Over the years, the company has grown to become one of the leading AMCs in India.
In addition to the international fund of funds, there are listing exchanged fund, close ended funds, many mutual fund schemes are offered as equities, debt, and hybrid.
The fund house has been able to develop a large number of investor folios due to the commitment of putting the needs of the investors first and the excellent returns delivered by the fund.
Conclusion
This article looked at some of the Top 10 AMCs in India. We hope you now understand the meaning of these top AMCs in India and how they function.
Before one invests in any Mutual Fund, it is highly recommended that that MF is studied in detail lest hasty decisions cause one to experience the bitter side of investing. Alternatively, one can also use an Online SIP Calculator to estimate the returns one can receive from mutual fund investments done through SIP.
Thus, in order to be a front-runner in the Investing game, you have to make every effort to get all your information correct and have a clear view of every aspect that is required.
Wish You Happy Investing!