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AMC full form is Asset Management Company. An Asset Management Company can be described as a financial company that invests pooled funds from clients into a variety of securities and assets.
If you want your funds to be invested in securities and assets for wealth creation, you must approach an AMC. But the question is, “which AMC is the best?”. We have mentioned the best AMCs in India in this blog post titled “Top 10 AMCs in India”. You can approach any of them based on your requirements and financial goals. The AMCs have been ranked based on the Assets Under Management held by them, as of 31.03.2024.
Let’s check out the list of top 10 Asset Management Companies (AMCs) in India along with their Logos and Year of Incorporation.
SBI Mutual Fund a.k.a SBI Funds Management Pvt Ltd. is a leading asset management company since its inception in 1987. It is a joint venture between state-owned bank State Bank of India and Amundi, a popular asset management company based in France.
Apart from being one of the oldest asset management companies in India, SBIFMPL is also one of the biggest AMCs in the country. According to Wikipedia, SBI Bank has 63% stake while Amundi has 37% stake in SBI Funds Management. The SBIFMPL manages assets worth ₹ 919,519.99 crore as on 31.03.2024.
Some Mutual Funds of SBI Funds Management Pvt Ltd are SBI Contra Fund, SBI Magnum Gilt Fund, SBI Large and Midcap Fund, SBI Retirement Benefit Fund, SBI Long Term Equity Fund and SBI Gold Fund.
Incorporated in 1993, the ICICI Prudential Mutual Fund is a popular asset management company. It is a joint venture between the famous ICICI Bank and Prudential Plc., which is an insurance company in the United Kingdom. In 1998, it had six employees but by 2016, it had thousands of employees. As of 31.03.2024, this AMC has an asset under management of ₹ 681,454.84 crores.
ICICI Prudential Mutual Fund also provides Portfolio Management Services, which allow high net worth individuals to invest their money in a more concentrated portfolio with the aim of achieving higher returns. ICICI Prudential MF became the first institutional participant to offer these services in India in 2000, according to Wikipedia.
Some Mutual Funds of ICICI Prudential Mutual Fund include ICICI Prudential Retirement Fund, ICICI Prudential Bluechip Fund, ICICI Prudential Gilt Fund and ICICI Prudential Child Care Plan Fund.
HDFC Mutual Fund is one of the top 10 AMCs in India. Incorporated in 1999, the HDFC Mutual Fund is a joint venture between Housing Development Finance Corporation Limited (HDFC) and UK-based Investment Company Standard Life Investments Limited.
As of 31.03.2024, this AMC manages assets worth ₹ 614,665.43 crores. By investing in HDFC mutual funds, investors can reduce the investment risk by investing in diverse portfolios.
Some Mutual Funds of HDFC Mutual Fund are HDFC Balanced Advantage Fund, HDFC Regular Savings Fund, HDFC Top 100 Fund, HDFC Retirement Savings Fund and HDFC Gold Fund.
Formerly known as Reliance Mutual Fund, Nippon India Mutual Fund is one of the most popular asset management companies in India. It was established in 1995, and since then, it has been one of the fastest growing AMCs in the country.
Nippon Life Insurance Company is the Sponsor while the Nippon Life India Trustee Ltd is the Trustee of Nippon India Mutual Fund. As of 31.03.2024, this AMC has Asset Under Management (AUM) worth ₹ 438,276.85 crores
Nippon India Small Cap Fund, Nippon India Overnight Fund, Nippon India Large Cap Fund, Nippon India Money Market Fund and Nippon India Money Market Fund are some Mutual Funds offered by Nippon India Mutual Fund.
Kotak Mahindra Asset Management Company, abbreviated as KMAMC, is a PLC incorporated in 1985. It is the Asset Manager of Kotak Mahindra Mutual Fund and is the Kotak Mahindra Bank’s wholly owned subsidiary.
Kotak Mahindra Mutual Fund started its operations in 1998 and became the first AMC in India to offer a dedicated gilt fund, allowing investors to invest solely in Government securities. As of 31.03.2024, this AMC has AUM worth ₹ 381,239.57 crores
This AMC also offers portfolio management services. Some mutual funds of Kotak Mutual Fund are Kotak Overnight Fund, Kotak Equity Arbitrage Fund, Kotak Bluechip Fund and Kotak Debt Hybrid Fund.
One of the top 10 AMCs in India, the Aditya Birla Sun Life Mutual Fund. It is a joint venture between Aditya Birla Capital and Sun Life Financial Inc, a financial services company based in Canada. While Aditya Birla Capital owns 51% stake in the AMC, Sun Life Financial Inc. owns 49% stake in it. This AMC has AUM worth ₹ 315,777.58 crores as of 31.03.2024. Some Mutual Funds offered by the Aditya Birla Sun Life Mutual Fund are Aditya Birla Sun Life Liquid Fund, Aditya Birla Sun Life Medium Term Fund and Aditya Birla Sun Life Corporate Bond Fund. It recently launched Aditya Birla Sun Life Defence Index Fund in August 2024.
It is the oldest asset management company in India which has been in existence since 1963. This AMC has AUM worth ₹ 286,593.27 crores as of 31.03.2024.
UTI Asset Management Company Ltd. manages all the UTI Mutual Funds. It has 4 major partners namely, SBI, PNB, Bank of Baroda and LIC. Each partner holds 18.24% shares in UTI Mutual Fund.
Mutual Funds offered by UTI Mutual Fund include UTI Short Duration Fund, UTI Low Duration Fund, UTI Credit Risk Fund, UTI Money Market Fund and UTI Large & Mid Cap Fund.
Axis Mutual Fund is one of the most popular AMCs in India. It was founded about 15 years ago, in the year 2009 as a mutual fund investment wing of Axis Bank.
Since April 2012, an AMC called Schroder Singapore Holdings Private Limited owns 25% stake in Axis MF. As of 31.03.2024, Axis Mutual Fund has ₹ 266,826.23 crores AUM.
Axis Gold Fund, Axis Overnight Fund, Axis Small Cap Fund, Axis Money Market Fund and Axis Liquid Direct Fund are some of the Mutual Funds offered by the Axis Mutual Fund.
Mirae Asset Financial Group is one of the key players in the Asian finance market. It is headquartered in Seoul, the capital of South Korea. Mirae Asset Global Investments, the asset management wing of Mirae Group, started its operations back in 1997 and in a relatively short span, it expanded its business around the globe.
Mirae Asset India was incorporated in the year 2007, and is regarded as one of the top 10 AMCs in India. As of 31.03.2024, Mirae Asset Mutual Fund has AUM of ₹ 173,787 crores.
Mirae Asset Overnight Fund, Mirae Asset Tax Saver Fund, Mirae Asset Liquid Fund and Mirae Asset Equity Savings Fund are some mutual fund schemes offered by Mirae Asset India.
In accordance with provisions of Indian Trusts Act, the DSP Mutual Fund was constituted as a trust in 1996. DSP MF is one of the leading AMCs in India.
It is a part of the DSP Group led by Mr. Hemendra Kothari. The AUM of DSP Mutual Fund is ₹ 138,986.33 crores as of 31.03.2024.
Some Mutual Fund schemes offered by DSP MF are DSP Tax Saver Fund, DSP Nifty Next 50 Index Fund, DSP ELSS Tax Saver Fund, DSP Healthcare Fund and DSP Government Securities Fund.
India has a total of 44 AMCs. In this blog post, we provided a list of top 10 AMCs in India based on Asset Under Management (AUM) as of 31st March, 2024. You can get in touch with any of the AMCs based on your financial goals and requirements. Make sure to do proper market research or consult with a professional beforehand.
Disclaimer: The rankings mentioned in this blog post ‘Top 10 AMCs in India’ are based on Asset Under Management (AUM) as of 31.03.2024. With time, the AUM figures are bound to change. For the latest AUM figures, please check the official websites of the AMCs. This is an educational purpose-only blog post. We do not recommend any of the AMCs listed in this post. It shall be your sole responsibility and choice to opt for any AMC.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.
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