Top 10 Biggest AMCs in India – Asset Management Companies List India 2020
An Asset Management Company (AMC) pools money from investors and manages it for them. Investors prefer these funds because of the diversification, skill, and professionalism of the fund manager. AMCs attract those who have fewer skills and don’t have time to manage their portfolios.
10 Biggest AMCs in India 2021
The following are the top Indian AMCs with the largest Assets Under Management (AUM) as of March 2020.
1. SBI Mutual Fund
AUM (IN CRORE)-373498.27
NUMBER OF FUNDS-150
SBI Mutual Fund was incorporated in 1987 with its corporate headquarters located in Mumbai, India. BIFMPL is a joint venture between the State Bank of India, an Indian public sector bank, and Amundi, a European asset management company.
SBI Funds Management Pvt Limited is a joint venture between the State Bank of India (SBI) and financial services company Amundi, a European Asset Management company in France. It was launched in 1987.
Ms. Anuradha Rao is the Managing Director and CEO.
In 2013, SBI Fund Guru, an investor education initiative was launched.
2. HDFC Asset Management Company
AUM (IN CRORES)-369782.8
NUMBER OF FUND-122
Housing Development Finance Corporation Limited (HDFC) is an Indian financial services company based in Mumbai, India. HDFC provides mutual fund services through its subsidiary HDFC Asset Management Company Limited. It’s the second biggest AMC in India.
HDFC Mutual Fund is at the 2nd number by the size of AUM. With a fund size of nearly ₹ 3 lakh crore, it is one of the largest mutual fund companies or AMC in the country.
HDFC Asset Management Company (AMC) was incorporated in 1999. It was approved to act as AMC for HDFC Mutual Fund in 2000. Milind Barve is the Managing Director of HDFC Mutual Fund.
3. ICICI Prudential Asset Management Company
AUM (IN CRORES)- 350634.37
NUMBER OF FUNDS-242
ICICI Prudential Mutual Fund was established in 1993. The AMC is a joint venture between ICICI Bank in India and Prudential Plc, one of the UK’s largest players in the financial services sector.
With an AUM size of approximately ₹ 3 lakh crore, ICICI Prudential Asset Management Company Ltd. is the country’s largest asset management company (AMC). It is a joint venture between ICICI Bank in India and Prudential Plc, in the UK. It was started in 1993.
Ms. Chanda Kochhar is the Chairperson of this AMC.
Apart from mutual funds, the AMC also caters to Portfolio Management Services (PMS) and Real Estate for investors.
4. Aditya Birla Sun Life Mutual Fund (ABSLMF)
AUM (IN CRORES)-247521.68
NUMBER OF FUNDS-165
Aditya Birla Sun Life Asset Management Company Ltd. (ABSLAMC) formerly known as Birla Sun Life Asset Management Company Limited, is an investment managing company registered under the Securities and Exchange Board of India. It is a joint venture between the Aditya Birla Group of India and Sun Life Financial Inc. of Canada. The company offers sector-specific equity schemes, fund of fund schemes, hybrid and monthly income funds, debt and treasury products, and offshore funds. Established in 1994.
5. Nippon India Asset Management Company
AUM (IN CRORES)-204857.79
NUMBER OF FUNDS-211
Nippon Life India Asset Management Limited (NAM India) is the asset manager of the Nippon India Mutual Fund (NIMF). Reliance Capital Limited and Nippon Life Insurance Company are the promoters of NAM India and currently hold 75.92% of its total issued and paid-up equity share capital. Equity Shares of NAM India are listed on BSE Limited and the National Stock Exchange of India Limited.
6. Kotak Mahindra Asset Management Company
AUM (IN CRORES)-186081.33
NUMBER OF FUNDS-100
Kotak Mahindra is one of India’s leading financial institutions, offering complete financial solutions that encompass every sphere of life. From commercial banking to stock broking, to mutual funds, to life insurance, to investment banking, the group caters to the financial needs of individuals and corporates.
7. UTI Mutual Fund
AUM (IN CRORES)-151512.5
NUMBER OF FUNDS-182
UTI Mutual Fund previously known as Unit Trust of India was founded in 2003. UTI Mutual Fund has a nationwide distribution network, which is spread across the length and breadth of the country. Its distribution network comprises over 48000 AMFI/NISM certified Independent Financial Advisors and 174 Financial Centers.
UTI Mutual Fund is a part of Unit Trust of India (UTI). It was registered with SEBI in 2003. It is promoted by SBI, LIC, Bank of Baroda, and PNB.
UTI is one of the oldest and largest mutual funds in India.
UTI Mutual Fund was the pioneer in launching various schemes like Unit Linked Insurance Plan (ULIP). Mr. Leo Puri is the Managing Director for this mutual fund house.
8. Axis Asset Management Company
AUM (IN CRORES)-138401.62
NUMBER OF FUNDS-58
Axis Mutual Fund launched its first scheme in October 2009 Since then Axis Mutual fund has grown strongly.
9. Franklin Templeton
AUM (IN CRORES)-116222.95
NUMBER OF FUNDS-116222.95
Franklin Templeton India office was set up in 1996 as Templeton Asset Management India Pvt. Limited. This mutual fund is now set up by Franklin Templeton Asset Management (India) Pt Limited.
10. IDFC Asset Management Company
AUM (IN CRORES)-103893.16
NUMBER OF FUNDS-59
IDFC Mutual Fund is one of the largest Asset Management Companies in India. IDFC Asset Management Company Ltd. was established in 2000 and in a relatively short span of time, has developed a robust network to deliver consistent value to its investors across India.
IDFC Asset Management Company Ltd. was established in 2000. IDFC Financial Holding Company Limited holds the entire shareholding in IDFC Asset Management Company. IDFC continues to be the sponsor of IDFC Mutual Fund.
Moreover, it also continues to hold a controlling interest in IDFC AMC