Mutual Fund AMC or Asset Management Companies manage their clients’ pool of money by investing them in various asset classes, with a focus on mutual funds in this case.
In this article we would touch upon the best mutual fund companies in India, their Assets under Management (AUM) and other relevant details that an investor (existing or prospective) should be aware of.
In this article
- Biggest AMCs in India
- Top 10 AMC in India (in 2018)
- More Top 5 AMC in India (Bonus List)
- List of Top Asset Management Companies in India and Their AUM
- In the End
Biggest AMCs in India
Assets under Management or AUM is the total market value of all the assets managed by the mutual fund companies.
A large AUM size thus could imply that the public has some faith in the performance of the AMC. Investors believe that their investments would bear good returns when invested in a fund with high AUM.
Top 10 AMC in India (in 2018)
As per the table above, we see that a large amount of money is managed by each and every Asset Management Company (AMC). The total Assets under Management (SUM) can vary greatly.
Readers should note that the difference between the AMC with the highest AUM and the AMC with the lowest AUM is huge. As per the table above, the AUM for ICICI Prudential Mutual Fund is almost 30 times the AUM for IDBI Mutual Fund.
Here are the top 10 mutual fund investment companies in India.
With the AUM size of approximately ₹ 3 lakh crore, ICICI Prudential Asset Management Company Ltd. is the largest asset management company (AMC) in the country. It is a joint venture between ICICI Bank in India and Prudential Plc, in UK. It was started in 1993.
Ms. Chanda Kochhar is the Chairperson of this AMC.
Apart from mutual funds, the AMC also caters to Portfolio Management Services (PMS) and Real Estate for investors.
Top ICICI Prudential Mutual Funds are:
- ICICI Prudential Balanced Advantage Fund
- ICICI Prudential Long Term Plan
- ICICI Prudential Banking and Financial Services Fund
HDFC Mutual Fund is at the 2nd number by the size of AUM. With fund size of nearly ₹ 3 lakh crore, it is one of the largest mutual fund companies or AMC in the country.
HDFC Asset Management Company (AMC) was incorporated in 1999. It was approved to act as AMC for HDFC Mutual Fund in 2000. Mr. Deepak S. Parekh is the Chairman of HDFC Mutual Fund.
Top HDFC Mutual Funds are-
Formerly known as Birla Sun Life Asset Management Company, this fund house is the 3rd largest in terms of the AUM size.
Presently it is known as Aditya Birla Sun Life (ABSL) Asset Management Company Ltd. It is a joint venture between the Aditya Birla Group in India and Sun Life Financial Inc of Canada. It was set up as a joint venture in 1994.
Top ABSL Mutual Funds:
- Aditya Birla Sun Life Tax Relief 96
- Aditya Birla Sun Life Small & Midcap Fund
- Aditya Birla Sun Life Advantage Fund
- Aditya Birla Sun Life Banking and Financial Services Fund
- Aditya Birla Sun Life Balanced 95
With Assets under Management of approximately ₹ 2.5 lakh crore, Reliance Mutual Fund is one of India’s leading mutual fund companies.
A part of Reliance Anil Dhirubhai Ambani (ADA) Group, Reliance Mutual Fund is one of the fastest growing AMCs in India.
Reliance Capital Limited (RCL) is the sponsor and Reliance Capital Trustee Co. Limited is the trustee of Reliance Mutual Fund (RMF). It was registered on June 30, 1995. Reliance Mutual Fund was originally Reliance Capital Mutual Fund and changed its name in 2004.
Top Reliance Mutual Funds:
- Reliance Tax Saver (ELSS) Fund
- Reliance Top 200 Fund
- Reliance Regular Savings Fund – Balanced
- Reliance Small Cap Fund
SBI Funds Management Pvt Limited is a joint venture between the State Bank of India (SBI) and financial services company Amundi, a European Asset Management company in France. It was launched in 1987.
Ms. Anuradha Rao is the Managing Director and CEO.
In 2013, SBI Fund Guru, an investor education initiative was launched.
Top SBI Mutual Funds:
UTI Mutual Fund is a part of Unit Trust of India (UTI). It was registered with SEBI in 2003. It is promoted by SBI, LIC, Bank of Baroda and PNB.
UTI is one of the oldest and largest mutual funds in India.
UTI Mutual Fund was the pioneer in launching various schemes like Unit Linked Insurance Plan (ULIP). Mr. Leo Puri is the Managing Director for this mutual fund house.
Top UTI Mutual Funds:
Kotak Mahindra Mutual Fund is a part of the Kotak Group established in 1985 by Mr. Uday Kotak. Kotak Mahindra Asset Management Company (KMAMC) is the asset manager for Kotak Mahindra Mutual Fund (KMMF). KMAMC started its operations in 1998.
Mr. Nilesh Shah is the Managing Director of Kotak Mutual Fund.
Top Kotak Mahindra Mutual Funds:
Franklin Templeton India office was set up in 1996 as Templeton Asset Management India Pvt. Limited. This mutual fund has now set up by the name, Franklin Templeton Asset Management (India) Pt Limited.
Top Franklin Templeton mutual funds:
DSP BlackRock is a joint venture between DSP Group and BlackRock, world’s largest investment management firm. DSP BlackRock Trustee Company Private Ltd. is the trustee for the DSP BlackRock Mutual Fund.
Best DSP BlackRock Mutual Funds:
- DSP BlackRock Opportunities Fund
- DSP BlackRock Natural Resources & New Energy Fund
- DSP BlackRock Tax Saver Fund
Axis Mutual Fund had launched its first scheme in 2009. Mr. Chandresh Kumar Nigam is the MD & CEO. Axis Bank Limited holds 74.99% in Axis Mutual Fund. The remaining 25% is held by Schroder Singapore Holdings Private Limited.
Top schemes by Axis Mutual Fund are:
More Top 5 AMC in India (Bonus List)
IDFC Asset Management Company Ltd. was established in 2000. IDFC Financial Holding Company Limited holds the entire shareholding in IDFC Asset Management Company. IDFC continues to be the sponsor of IDFC Mutual Fund.
Moreover, it also continues to hold controlling interest in IDFC AMC.
Top IDFC mutual funds are:
L&T Investment Management Limited is the Asset Management Company (AMC) for all L&T Mutual Fund schemes. L&T Finance Holdings Limited (LTFH), a listed company, is the sponsor for the AMC. It started its operations in 2010.
Top L&T mutual funds are:
Sundaram Asset Management Company is a fully owned subsidiary of one of India’s oldest NBFCs – Sundaram Finance Limited. Back in 1996, the Company was jointly promoted by Sundaram Finance Ltd and Stewart Newton Holdings (Mauritius) Ltd.
It is headquartered in Chennai and also has an office in Dubai and owns a wholly owned subsidiary in Singapore, formed in 2012.
With AUM over ₹30,000 crores, it is one of the leading AMCs in India.
Top Sundaram mutual funds in India:
Motilal Oswal Asset Management Company Ltd. (MOAMC) is a public limited company incorporated on November 14, 2008. Motilal Oswal Trustee Company Ltd. is the trustee company.
Motilal Oswal Mutual Fund is sponsored by Motilal Oswal Securities Limited. Motilal Oswal Securities Limited (MOSL) is promoted by Motilal Oswal Financial Services Limited.
Top Motilal Oswal mutual funds are:
- Motilal Oswal Midcap 30 Fund
- Motilal Oswal MOSt Focused Multicap 35 Fund
- Motilal Oswal Focused 25 Fund
Mirae Asset was founded in 1997. Mirae Asset Mutual Fund is sponsored by Mirae Asset Global Investments Co. Limited, South Korea.
Top Mirae Asset mutual funds:
List of Top Asset Management Companies in India and Their AUM
Below is a list of some mutual fund companies arranged according to their AUM size.
|Top AMCs||AUM (in ₹ Cr.)|
|ICICI Prudential Mutual Fund||3,06,173.5|
|HDFC Mutual Fund||3,00,793.73|
|Aditya Birla Sun Life Mutual Fund||2,47,794.54|
|Reliance Mutual Fund||2,45,581.35|
|SBI Mutual Fund||2,18,033.97|
|UTI Mutual Fund||1,54,939.35|
|Kotak Mahindra Mutual Fund||1,24,888.06|
|Franklin Templeton Mutual Fund||1,04,140.48|
|DSP Blackrock Mutual Fund||86,325.70|
|Axis Mutual Fund||77,377.48|
|IDFC Mutual Fund||70,173.11|
|L&T Mutual Fund||65,931.65|
|Tata Mutual Fund||46,977.18|
|Sundaram Mutual Fund||34,306.3|
|Invesco Mutual Fund||26,217.41|
|DHFL Pramerica Mutual Fund||23,595.35|
|LIC Mutual Fund||20,117.71|
|Motilal Oswal Mutual Fund||17,735.47|
|JM Financial Mutual Fund||16,364.64|
|Mirae Asset Mutual Fund||15,756.15|
|Baroda Pioneer Mutual Fund||13,022.04|
|Canara Robeco Mutual Fund||12,539.58|
|Edelweiss Mutual Fund||12,100.31|
|HSBC Mutual Fund||10,999.27|
|IDBI Mutual Fund||10,795.53|
In the End
Mutual Fund Companies manage large sums of money invested in various schemes. Investors place confidence in the fund manager as well as the AMC while investing in their schemes.
A large AUM can be both positive, as well as negative. If invested efficiently, it can deliver manifold returns for its investors.
Different Categories of Mutual Funds are as follows:
- Large Cap Funds– In this type of mutual fund, the investment is made in large-cap companies. These companies are stable, have a proven track record and good ratings. These companies have historically given returns between 12% and 18%. Moderate risk is involved and it is suggested to invest in these funds for more than 4 years.
- Mid Cap Funds– In this type of mutual fund, the investment is made in mid-cap companies. These companies come after large-cap funds in the hierarchy.These companies have historically given returns between 15% and 20%. The risk is slightly more than large-cap funds. It is suggested to invest in these funds for more than 5 years.
- Small Cap Funds– In this type of mutual fund, the investment is made in small-cap companies. These companies offer 16-22% return. This category is a high risk- high return one.
- Balanced Fund– This fund has a combination of equity and debt in its portfolio. Depending on the proportion of investment made in equity and debt, the risk and returns are accordingly determined.
Investment can be made via lump sum investment or through SIP (Systematic Investment Plan) mode in any of these fund categories.
An investor can take any investment decision taking into account his/her investment objective, investment duration and risk-return capacity.
To see more funds to invest in 2018, you can check out: 30 best funds to invest in 2018.
Disclaimer: the views expressed here are of the author and do not reflect those of Groww.