While India is in a growing phase in various areas, such as technology, e-commerce, digitization, and much more, there is also another sector that is growing incredibly fast. If you are still wondering which sector that is – it is the mutual fund sector!
Lets have a look at all the mutual fund companies in India at the moment.
Top List of Asset Management Companies in India in 2024
Here is the list of top mutual fund companies in India in 2024:
1. Axis Asset Management Company Ltd
This asset management company (AMC) launched its first mutual fund in October 2009. Since then, it has expanded its presence to over 90 cities across India. The firm manages over 2 million investor accounts and offers approximately 50 mutual fund schemes across various categories, including debt, equity, hybrid, ETFs (Exchange-Traded Funds), and FoFs (Fund of Funds).
2. Groww
Groww AMC is the Asset Management Company (AMC) associated with the Groww financial platform. Groww being established in March 2011, expanded its operations in March 2023 by acquiring Indiabulls Housing Finance. Managed by Groww Trustee Limited and supported by Groww Invest-Tech Private Limited (formerly known as Nextbillion Technology Private Limited), Groww Mutual Fund offers a diverse portfolio of investment options, including debt funds, hybrid funds, equity funds, and ETFs.
3. SBI Mutual Fund
SBI Mutual fund was set up on the 29th of 1987 and was established in 1992. It is India’s 2nd fund house to be set up. SBI MF manages its assets through investment expertise in the national mutual funds and even alternate investment funds, offshore funds and more.
4. HDFC Mutual Funds
HDFC MF ranks in the top 10 companies in India, and it was founded in the year 1999. It became a publicly listed company in August of 2018. This mutual fund house has become a top investment choice for investors throughout the country.
5. Aditya Birla Sun Life Mutual Fund House
This house was established in the year 1994, and it is a joint venture between Aditya Birla Capital Ltd. and Sun Life AMC, which is a company from Canada. It is often a top choice for investors who want to get a decent return on investment choices.
6. ICICI Prudential Mutual Fund
Established in 1993, ICICI Prudential Mutual Fund is one of the oldest and largest AMC in the country. It is a joint venture between the ICICI Bank and Prudential Plc, a UK-based financial services company.
7. Baroda Asset Management India Ltd
Formerly known as Baroda Pioneer Asset Management Co. Ltd., this asset management company (AMC) is a wholly-owned subsidiary of the Bank of Baroda, India’s second-largest public sector bank. It offers 16 mutual fund schemes across various categories, including equity, debt income, and liquid funds.
8. Canara Robeco Asset Management Company Ltd
This fund house is a joint venture between the public sector lender Canara Bank and the Netherlands-based investment firm Robeco. Originally founded in December 1987 as Canbank Mutual Fund, it was renamed Canara Robeco Mutual Fund in 2007. The firm offers 18 schemes across various categories, including equity, debt, hybrid, and ETFs.
9. DSP Investment Managers Private Ltd
Owned by the DSP Group, one of India’s most esteemed and oldest financial services companies, this fund house has a distinguished heritage. A member of the DSP family was also a founding member of the Bombay Stock Exchange. The AMC was formerly known as DSP BlackRock Investment Managers Pvt. Ltd.
10. Edelweiss Asset Management
As a subsidiary of Edelweiss Financial Services Ltd. and part of the Edelweiss Group, this asset management company offers 25 schemes across various categories, including equity, fixed income, ETFs, and international funds.
11. Franklin Templeton Asset Management
The fund house, established in 1996, launched its first mutual fund scheme in September of the same year.
12. Nippon India Mutual Fund
This AMC was earlier known as Reliance Mutual Fund, and later the name was changed. This company also became the largest foreign-owned mutual fund house in India.
13. UTI Mutual Fund House
UTI was registered in 2003, and in the same year and was changed into the Specified Undertaking of The Unit Trust of India(SUUTI) and UTI MF.
14. IDFC Mutual Fund
IDFC Mutual Fund, one of the leading mutual fund houses in India, was established in 2000. It is promoted by IDFC Ltd., a finance company in India that offers financing and advisory services for infrastructure projects.
15. IDBI Asset Management
This AMC was sponsored by IDBI Bank and incorporated on the 25th of January 2010. This house currently offers 22 schemes in debt, hybrid, equity, and hold.
16. IIFCL Asset Management
Established as a trust on August 17, 2012, this fund house was created by the India Infrastructure Finance Company Ltd. (IIFCL), a leading institution in India’s infrastructure sector.
This list could go on, but we are going to stop here to let you have a deeper look at the country’s top AMCs.
Conclusion
Mutual fund investments could bring along some risks, but definitely not as much as directly investing in stocks. So, take advantage of these growing AMCs in the country, and you can explore different investment choices from them. However, you need to make sure that you are aware of all the associated risks and know if you can afford to take those risks.
