Top Asset Management Companies (AMCs) in India in 2023
If you are looking for a way to grow your money and achieve your financial goals, investing in mutual funds can be a smart option. Mutual funds are professionally managed pools of money that invest in various securities such as stocks, bonds, commodities, etc. They offer diversification, liquidity, convenience, and tax benefits to investors.
But how do you choose the right mutual fund for your needs?
One of the factors that you should consider is the asset management company (AMC) that manages the fund.
An AMC is a financial institution that pools money from investors and invests it in different schemes according to their objectives and strategies. An AMC has fund managers who are responsible for making investment decisions, monitoring the performance, and ensuring compliance with the regulations.
There are more than 40 AMCs operating in India, offering thousands of mutual fund schemes across various categories and themes. Some of these AMCs are well-established and have a large market share, while others are relatively new and have a niche focus. Choosing an AMC can be a daunting task, as you have to compare various factors such as their track record, reputation, customer service, fees, etc.
To make your task easier, we have compiled a list of the top 10 AMCs in India by their assets under management (AUM) as of March 31, 2023. AUM is the total market value of the assets managed by an AMC for its clients. It reflects the size, scale, and popularity of an AMC in the market.
Here are the top 10 AMCs in India by AUM:
1. SBI Funds Management Limited
SBI Funds Management Limited is the largest AMC in India by AUM, with Rs 7,02,166 crore in assets as of March 31, 2023. It is a joint venture between the State Bank of India (SBI), the largest public sector bank in India, and Amundi, one of the world’s leading asset managers based in France. SBI Funds Management Limited was established in 1987 and has over 34 years of experience in the mutual fund industry. It offers a wide range of mutual fund schemes across equity, debt, hybrid, liquid, exchange-traded funds (ETFs), index funds, etc. Some of its popular schemes are SBI Bluechip Fund, SBI Magnum Multicap Fund, SBI Flexi Cap Fund, SBI Liquid Fund, etc.
2. ICICI Prudential Asset Management Company Limited
ICICI Prudential Asset Management Company Limited is the second-largest AMC in India by AUM, with Rs 5,09,588 crore in assets as of March 31, 2023. It is a joint venture between ICICI Bank Limited, one of the leading private sector banks in India, and Prudential Plc., one of the largest and most respected financial services groups in the UK. ICICI Prudential Asset Management Company Limited was founded in 1993 and has over 28 years of experience in the mutual fund industry. It offers a comprehensive range of mutual fund schemes across equity, debt, hybrid, liquid, ETFs, index funds, fund of funds, etc. Some of its popular schemes are ICICI Prudential Bluechip Fund, ICICI Prudential Value Discovery Fund, ICICI Prudential Balanced Advantage Fund, ICICI Prudential Liquid Fund, etc.
3. HDFC Asset Management Company Limited
HDFC Asset Management Company Limited is the third-largest AMC in India by AUM, with Rs 4,37,876 crore in assets as of March 31, 2023. It is a subsidiary of HDFC Limited, one of the most trusted housing finance companies in India. HDFC Asset Management Company Limited was incorporated in 1999 and has over 22 years of experience in the mutual fund industry. It offers a diverse range of mutual fund schemes across equity, debt, hybrid, liquid, ETFs, index funds, fund of funds, etc. Some of its popular schemes are HDFC Top 100 Fund, HDFC Mid-Cap Opportunities Fund, HDFC Balanced Advantage Fund, HDFC Liquid Fund, etc.
4. Nippon Life India Asset Management Limited
Nippon Life India Asset Management Limited is the fourth-largest AMC in India by AUM, with Rs 2,87,828 crore in assets as of March 31, 2023. It is a joint venture between Nippon Life Insurance Company, one of the largest life insurance companies in Japan, and Reliance Capital Limited. Nippon Life India Asset Management Limited was established in 1995 and has over 26 years of experience in the mutual fund industry. It offers a variety of mutual fund schemes across equity, debt, hybrid, liquid, ETFs, index funds, fund of funds, etc. Some of its popular schemes are Nippon India Large Cap Fund, Nippon India Small Cap Fund, Nippon India Equity Hybrid Fund, Nippon India Liquid Fund, etc.
5. Kotak Mahindra Asset Management Company Limited
Kotak Mahindra Asset Management Company Limited is the fifth-largest AMC in India by AUM, with Rs 2,84,074 crore in assets as of March 31, 2023. It is a subsidiary of Kotak Mahindra Bank Limited, one of the leading private sector banks in India. Kotak Mahindra Asset Management Company Limited was established in 1998 and has over 23 years of experience in the mutual fund industry. It offers a broad range of mutual fund schemes across equity, debt, hybrid, liquid, ETFs, index funds, fund of funds, etc. Some of its popular schemes are Kotak Standard Multicap Fund, Kotak Emerging Equity Fund, Kotak Equity Hybrid Fund, Kotak Liquid Fund, etc.
6. Aditya Birla Sun Life AMC Limited
Aditya Birla Sun Life AMC Limited is the sixth-largest AMC in India by AUM, with Rs 2,61,232 crore in assets as of March 31, 2023. It is a joint venture between Aditya Birla Capital Limited, one of the largest financial services companies in India, and Sun Life Financial Inc., one of the leading international financial services organizations based in Canada. Aditya Birla Sun Life AMC Limited was established in 1994 and has over 27 years of experience in the mutual fund industry. It offers a comprehensive range of mutual fund schemes across equity, debt, hybrid, liquid, ETFs, index funds, fund of funds, etc. Some of its popular schemes are Aditya Birla Sun Life Frontline Equity Fund, Aditya Birla Sun Life Tax Relief 96 Fund, Aditya Birla Sun Life Balanced Advantage Fund, Aditya Birla Sun Life Liquid Fund, etc.
7. Axis Asset Management Company Limited
Axis Asset Management Company Limited is the seventh-largest AMC in India by AUM, with Rs 2,26,881 crore in assets as of March 31, 2023. It is a subsidiary of Axis Bank Limited, one of the leading private sector banks in India. Axis Asset Management Company Limited was incorporated in 2009 and has over 12 years of experience in the mutual fund industry. It offers a wide range of mutual fund schemes across equity, debt, hybrid, liquid, ETFs, index funds, fund of funds, etc. Some of its popular schemes are Axis Bluechip Fund, Axis Midcap Fund, Axis Dynamic Equity Fund, Axis Liquid Fund, etc.
8. UTI Asset Management Company Private Limited
UTI Asset Management Company Private Limited is the eighth-largest AMC in India by AUM, with Rs 2,23,699 crore as of March 31, 2023. It is one of the oldest AMCs in India, having been established in 1964 as Unit Trust of India. It is now owned by four public sector entities: State Bank of India (SBI), Life Insurance Corporation of India (LIC), Bank of Baroda (BoB), and Punjab National Bank (PNB). UTI Asset Management Company Private Limited offers a diverse range of mutual fund schemes across equity, debt, hybrid, liquid, ETFs, index funds, fund of funds, etc. Some of its popular schemes are UTI Mastershare Unit Scheme, UTI Flexi Cap Fund, UTI Equity Hybrid Fund, UTI Liquid Cash Plan, etc.
9. Bandhan Mutual Fund
Bandhan Mutual Fund is the ninth-largest AMC in India by AUM, with Rs 1,11,592 crore as of March 31, 2023. It is a subsidiary of Bandhan Bank Limited, one of the fastest-growing private sector banks in India. Bandhan Mutual Fund was launched in 2020 and has over two years of experience in the mutual fund industry. It offers a range of mutual fund schemes across equity, debt, hybrid, liquid, ETFs. index funds, fund of funds etc. Some of its popular schemes are Bandhan Large and Midcap Fund, Bandhan Smallcap Fund, Bandhan Conservative Hybrid Fund, Bandhan Money Market Fund etc.
10. DSP Mutual Fund
DSP Mutual Fund is the tenth-largest AMC in India by AUM, with Rs 1,10,604 crore as of March 31, 2023. It is a joint venture between DSP Group, one of the oldest and most respected financial services firms in India, and BlackRock, one of the world’s largest asset managers based in the US. DSP Mutual Fund was established in 1996 and has over 25 years of experience in the mutual fund industry. It offers a wide range of mutual fund schemes across equity, debt, hybrid, liquid, ETFs, index funds, fund of funds, etc. Some of its popular schemes are DSP Equity Fund, DSP Small Cap Fund, DSP Dynamic Asset Allocation Fund, DSP Savings Fund, etc.
These are the top 10 AMCs in India by AUM as of March 31, 2023. However, AUM is not the only criterion to judge the performance and quality of an AMC. You should also look at other factors such as the consistency of returns, the risk-adjusted returns, the expense ratio, the portfolio composition, the fund manager’s experience and style, the customer service and support, etc. before investing in any mutual fund scheme.
Disclaimer
The investment options and stocks mentioned here are not recommendations. Please go through your own due diligence and conduct thorough research before investing. Investment in the securities market is subject to market risks. Please read the Risk Disclosure documents carefully before investing. Past performance of instruments/securities does not indicate their future performance. Due to the price fluctuation risk and the market risk, there is no guarantee that your personal investment objectives will be achieved.
