The Indian Asset Management Company (AMC) industry is experiencing explosive growth, with assets under management (AUM) exceeding Rs. 42.27 lakh crore (US$ 539.25 billion) as of March 31, 2023. Several factors fuel this growth, including:
- Increased Awareness: Investors are becoming increasingly aware of mutual funds as a viable investment option.
- Expanding Middle Class: The rising middle class creates a larger pool of potential investors.
- Economic Growth: India’s strong economic performance boosts investor confidence and attracts foreign investment.
Amidst this vibrant landscape, several AMCs stand out for their exceptional performance and leadership. Here are the top 10:
1. SBI Mutual Fund: Leading the pack with an AUM of Rs. 7,02,166 crore (US$ 89.38 billion), SBI Mutual Fund is a joint venture between State Bank of India and Amundi Asset Management. They offer a diverse range of mutual fund schemes across various categories.
2. ICICI Prudential Mutual Fund: With an AUM of Rs. 509,588.31 crore (US$ 64.88 billion), ICICI Prudential Mutual Fund holds the second position. This joint venture between ICICI Bank and Prudential Financial boasts a comprehensive portfolio of mutual fund schemes.
3. HDFC Mutual Fund: Occupying the third position with an AUM of Rs. 437,876.34 crore (US$ 55.76 billion), HDFC Mutual Fund is a wholly-owned subsidiary of HDFC Bank. Their offerings encompass a wide variety of mutual funds across various categories.
4. Nippon India Mutual Fund: A joint venture between Nippon Life Insurance and Reliance Group, Nippon India Mutual Fund holds an AUM of Rs. 287,827.85 crore (US$ 36.75 billion). They offer a diverse range of mutual fund schemes across various asset classes.
5. Kotak Mahindra Mutual Fund: Wholly owned by Kotak Mahindra Bank, Kotak Mahindra Mutual Fund holds an AUM of Rs. 247,916.75 crore (US$ 31.75 billion). Their comprehensive portfolio includes mutual funds across various categories.
6. Aditya Birla Sun Life Mutual Fund: A joint venture between Aditya Birla Group and Sun Life Financial, Aditya Birla Sun Life Mutual Fund holds an AUM of Rs. 230,272.30 crore (US$ 29.41 billion). They offer a wide portfolio of mutual funds across various categories.
7. Axis Mutual Fund: Wholly owned by Axis Bank, Axis Mutual Fund holds an AUM of Rs. 201,008.17 crore (US$ 25.63 billion). Their diverse offerings include mutual funds across various categories.
8. DSP BlackRock Mutual Fund: A joint venture between DSP group and BlackRock, DSP BlackRock Mutual Fund holds an AUM of Rs. 194,357.78 crore (US$ 24.80 billion). Their portfolio includes a wide range of mutual funds across various categories.
9. Mirae Asset Mutual Fund: Wholly owned by Mirae Asset Global Investments, Mirae Asset Mutual Fund holds an AUM of Rs. 184,769.53 crore (US$ 23.59 billion). Their offerings include a diverse range of mutual funds across various categories.
10. Franklin Templeton Mutual Fund: A wholly-owned subsidiary of Franklin Resources Inc., Franklin Templeton Mutual Fund holds an AUM of Rs. 140,868.02 crore (US$ 17.93 billion). Their portfolio includes a variety of mutual funds across various categories.
Top 10 AMCs in India
| Rank | AMC Name | AUM (Rs. crore) | AUM (USD Billion) | Parent Company | Website |
|---|---|---|---|---|---|
| 1 | SBI Mutual Fund | 7,02,166 | 89.38 | State Bank of India, Amundi Asset Management | https://www.sbimf.com/ |
| 2 | ICICI Prudential Mutual Fund | 509,588.31 | 64.88 | ICICI Bank, Prudential Financial | https://www.icicipruamc.com/ |
| 3 | HDFC Mutual Fund | 437,876.34 | 55.76 | HDFC Bank | https://www.hdfcfund.com/ |
| 4 | Nippon India Mutual Fund | 287,827.85 | 36.75 | Nippon Life Insurance, Reliance Group | https://mf.nipponindiaim.com/ |
| 5 | Kotak Mahindra Mutual Fund | 247,916.75 | 31.75 | Kotak Mahindra Bank | https://www.kotakmf.com/ |
| 6 | Aditya Birla Sun Life Mutual Fund | 230,272.30 | 29.41 | Aditya Birla Group, Sun Life Financial | https://mutualfund.adityabirlacapital.com/ |
| 7 | Axis Mutual Fund | 201,008.17 | 25.63 | Axis Bank | https://www.axismf.com/ |
| 8 | DSP BlackRock Mutual Fund | 194,357.78 | 24.80 | DSP Group, BlackRock | https://www.dspim.com/ |
| 9 | Mirae Asset Mutual Fund | 184,769.53 | 23.59 | Mirae Asset Global Investments | https://www.miraeassetmf.co.in/ |
| 10 | Franklin Templeton Mutual Fund | 140,868.02 | 17.93 | Franklin Resources Inc. | https://www.franklintempletonindia.com/ |
These top 10 AMCs are at the forefront of the Indian investment landscape, providing innovative and competitive solutions to meet the diverse needs of investors. As the industry continues to grow, it will be exciting to see how these AMCs evolve and shape the future of investment in India.