Top 10 AMCs in India
An asset management company (AMC) is a financial services company that offers investment funds. The corpus of these funds typically received from its clients, into securities that are in line financial objective of the AMC. The article details the top ten AMCs in India and asset under management with these AMCs.
ICICI Prudential Mutual Fund – The AMC is a joint venture between ICICI Bank of India and Prudential Plc of UK. While Prudential Plc. is one of the largest players in the financial services sector of UK, ICICI Bank is one of the largest private banks in India. The AMC has an asset base of around Rs 2,93,338 crore and offers over 1400+ funds. The AMC has very well diversified service offerings. Some of the notable funds include:
- ICICI Prudential Focused Bluechip Equity Fund
- ICICI Prudential Balanced Fund
Other notable funds by this AMC are ICICI Prudential Nifty Next 50 Index Fund among others.
HDFC Mutual Fund – HDFC AMC was launched in 1999. The AMC made a notable name after the acquisition of eight funds from Zurich India Mutual Fund. These funds were then renamed to funds such as HDFC Top 200 Fund, HDFC Equity Fund, etc. The fund house offers nearly 900 funds across all categories and has some of the notable funds to its credit such as:
- HDFC Balanced Fund
- HDFC Top 100 Fund
Other notable funds include HDFC Index Fund – Nifty Plan etc.
Reliance Mutual Fund – While reliance currently has less AUM as compared to ICICI and HDFC, the fund offers close 1100 funds and enjoys decent popularity in India for Reliance Small Cap Fund and Reliance Liquid Bees. Other notable funds include Reliance Index Fund – Nifty Plan, Reliance Regular Savings Fund – Balanced.
Aditya Birla Sun Life Mutual Fund – The fund house manages over Rs 2,41,107 crore in AUM currently spread across 600+ schemes. The AMC is a joint venture between Aditya Birla Group of India and Sun Life Financial Inc. of Canada and was started in 1994. Some of the notable funds offered by the AMC include Aditya Birla Sun Life Tax Relief 96, Aditya Birla Sun Life Balanced 95 fund.
SBI Mutual Fund – The AMC is a joint venture between the State Bank of India (SBI) and Amundi, a European Asset Management Company. The fund house manages assets over Rs 2,05,273 crore and offers 550+ funds. Some of the notable funds include SBI Blue Chip Fund, SBI Magnum Multi-Cap Fund.
UTI Mutual Fund – UTI was founded in 1963 and is one of the first asset management companies in India. With nearly 1400 funds, the AMC manages over Rs 1,53,364 crore in AUM and offers fund across multiple categories. Some of the notable funds across categories include UTI Equity Fund, UTI Bond Fund, and UTI Balanced Fund.
|Mutual Funds||December 2017||% Change (Q-Q)|
|ICICI Prudential Mutual Fund||2,93,338||5.11|
|HDFC Mutual Fund||2,89,168||7.19|
|Reliance Mutual Fund||2,43,594||5.26|
|Aditya Birla Sun Life Mutual Fund||2,41,107||7.33|
|SBI Mutual Fund||2,05,273||9.17|
|UTI Mutual Fund||1,53,364||1.79|
|Kotak Mahindra Mutual Fund||1,19800||8.29|
|Franklin Templeton Mutual Fund||99,804||5.34|
|DSP BlackRock Mutual Fund||86,255||10.84|
|IDFC Mutual Fund||71,388||7.58|
Kotak Mahindra Mutual Fund – The AMC is started by Kotak Mahindra Bank and with AUM of over Rs 1,19,800 crore, the fund house offers over 300 funds. Launched in 2009, one of the funds Kotak Select Focus Fund has gained significant traction over the years. Other notable funds include Kotak Taxsaver Fund.
Franklin Templeton Mutual Fund – Franklin Templeton is an American company that was established in 1947. The company’s Indian office was set up in 1996 and ever since its AUM has been growing rapidly. Some of the notable funds include Franklin India Flexi Cap Fund, Franklin India Tax Shield Fund, and Franklin India Low Duration Fund among others.
DSP BlackRock Mutual Fund – The AMC is a joint venture between the 150-year old DSP and BlackRock Group. With AUM of over Rs 86,255 crore and over 250 funds, the fund house has made a notable name in the mutual fund industry. Some of the notable funds include DSP BlackRock Focus 25 Fund, DSP BlackRock Opportunities Fund, etc.
IDFC Mutual Fund – IDFC Ltd was set up by the Government of India in 1997. The AMC launched its first mutual fund in 2000 and currently has around 300 funds to offer with AUM of over Rs 71,388 crore. IDFC Super Saver Income Fund is one of the most notable funds offered by the AMC.