Mutual funds in India off late have become very popular. In fact, the AUM has been consistently rising for the past 5 years.
Increased awareness, desire to invest in equity markets safely, stagnated growth of gold prices, and a few other factors have resulted in more people exploring the mutual fund option.
Here is a list of some of the largest and most mutual fund houses or Asset Management Companies (AMC) in India.
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Top 10 Mutual Fund Houses in India
This AMC is a joint venture between ICICI Bank of India and Prudential Plc of UK. Prudential Plc is one of the largest players in the financial services sector of the UK. With an AUM of ₹227,989 crore, ICICI Prudential Mutual Fund is the fund with the largest amount of money under management.
ICICI Prudential Bluechip Equity Fund is one of the popular funds by this AMC. It has an AUM of ₹13,497 crore which is fairly large but not a problem since this is a large-cap fund.
Another very good fund by this AMC is ICICI Prudential Equity and Debt Fund. It has returned an annual rate of 15.03% since it was launched in 1999. Such a rate is considered exceptional considering this fund has been around for 18 years.
Other notable funds by this AMC are ICICI Prudential Nifty Next 50 Index Fund, ICICI Prudential Top 100 Fund, among others. ICICI Prudential Mutual Fund has a total of 1459 different mutual funds in its offering. This is easily the most number of funds offered by any AMC on this list.
This AMC was launched in 1999. In 2003, they acquired 8 funds held by Zurich India Mutual Fund. HDFC Top 200 Fund and HDFC Equity Fund among others were earlier Zurich funds.
In terms of AUM, HDFC Mutual Fund comes a close second, managing a total ₹221,825 crore worth of assets. The total number of funds offered by HDFC Mutual Fund is an astounding 890 funds. Though this number might seem small in front of the number of funds offered by ICICI Prudential Mutual Fund, it is no small number when viewed individually.
HDFC Balanced Fund has returned a very impressive 16.97% return since its launch in 2000. The AUM at present is ₹13,824 crore. Other notable funds by this AMC are HDFC Index Fund – Nifty Plan and HDFC Index Fund – Sensex.
Although the AUM at ₹195,845 is less than that of HDFC Mutual Fund, Reliance Mutual Fund offers a whopping 1033 funds. Reliance Mutual Fund as an AMC enjoys a healthy amount of popularity in India. It handles the largest amount of assets beyond the top 15 cities of India.
Reliance Small Cap Fund, launched in 2010 has returned a very high 21.28% since inception. Needless to say, being a small cap fund, it is rated as a high-risk fund. Other mention worthy funds by this AMC are Reliance Index Fund – Nifty Plan, Reliance Regular Savings Fund – Balanced, and various others.
Birla Sun Life Mutual Fund manages ₹180,808 as of today. This fund house manages a total of 636 funds. This AMC is a joint venture between Birla Group of India and Sun Life Financial Inc. of Canada. Birla Sun Life Mutual Fund was started in 1994.
Birla Sun Life Frontline Equity Fund has returned an astounding 22.56% since inception in 2002. This rate of performance is very good for a large cap mutual fund. Another very good fund by this AMC is Birla Sun Life Tax Relief 96. This fund is an ELSS fund and helps people save tax under Section 80C.
SBI Mutual Fund is also particularly popular in India. This AMC has a good influence and reach. SBI Mutual Fund is actually a joint venture between State Bank of India (SBI) and Amundi, a European Asset Management Company. SBI Mutual Fund manages assets worth ₹140,997 and offers a total of 565 mutual funds.
SBI Bluechip Fund enjoys great popularity in India. This fund manages assets worth ₹14,267. It has returned an annualized rate of 11.8% since launch in 2006. SBI Magnum Multi Cap Fund is another very spoken-of fund.
UTI Mutual Fund comes in at sixth position with an AUM totaling ₹129,389. UTI was founded in 1963 and was India’s first asset management company. This AMC offers a very high 1399 mutual funds to choose from. As an AMC, UTI Mutual Fund has returned a rate well above 15% over the three decades it has been in existence.
UTI Equity Fund, which was launched in 1992, has returned a very healthy 12.47% since inception. It has an AUM of ₹5163, which is very healthy for a large cap fund.
At the seventh position, Kotak Mahindra Mutual Fund has an AUM of ₹82,135. They offer a total of 316 mutual funds which is relatively lower than what the other AMCs on this list provide.
Launched in 2009, Kotak Select Focus Fund has since returned an annualized rate of return of 15.59%. It has an AUM of ₹11,590. Kotak Taxsaver is an ELSS mutual fund which is very popular for saving tax.
Franklin Templeton Mutual Fund has an AUM of ₹75,783 and offers the least number of mutual funds among all names on this list. Franklin Templeton is actually an American financial services company that was established in 1947. It’s Indian office was set up in 1996 and the company has been a leader in the mutual fund domain ever since.
Launched in 2005, Franklin India Flexi Cap Fund has returned an annualized rate of 17.58% since inception. Such a rate is considered very good as this fund is a large cap fund. Another very noteworthy fund among others is Franklin India High Growth Companies Fund. This multi cap fund launched in 2007 has returned a rate of 13.76% despite weathering the market crash of 2008.
DSP BlackRock is a joint venture between the 150 year old Indian financial services company DSP Group and the world’s largest largest investment management firm. This AMC comes ninth on this list with an AUM of ₹58,357 and an offering of 284 funds.
DSP BlackRock Focus 25 Fund is a large cap fund with an AUM of ₹2121. It has returned an annualized return of 11.44% since its launch in 2010. DSP BlackRock Opportunities Fund is another very good offering by this AMC. This fund was launched in 2000 and has since returned a very impressive annualized return of 19.19%.
10. IDFC Mutual Fund
The last on the list here is IDFC Mutual Fund. IDFC Ltd. was set up in 1997 by the Government of India. In the year 2000, they launched their first mutual fund. It has an AUM of ₹57,998 and offers 299.
IDFC Super Saver Income Fund is one of the best rated IDFC fund.