Top 10 Asset Management Companies in India

Nitin Agrawal
Nitin Agrawal
nitin@orowealth.com

An asset management company (AMC) is a financial services company that offers different mutual fund schemes to invest. The money invested in the schemes is typically received from the clients of the AMC and is subsequently invested in securities that are in line with the financial objective of the AMC. An AMC offers investors with different mutual fund schemes to invest. They manage the money received from the investors by investing in different asset classes.

Here is the list of top 10 AMCs in India and asset under management with these AMCs.

Top 10 Asset Management Companies in India

1. ICICI Prudential Mutual Fund

It is one of the top AMCs in India. The AMC is a joint venture between ICICI Bank of India and Prudential Plc of UK. While Prudential Plc. is one of the largest players in the financial services sector of the UK, ICICI Bank is one of the largest private banks in India. The AMC has an asset base of around Rs 2,93,338 crore and offers over 1400+ funds. The AMC has very well diversified service offerings. Some of the notable funds include:

  • ICICI Prudential Focused Bluechip Equity Fund
  • ICICI Prudential Balanced Fund

The AMC was set up on October 13, 1993, and has its headquarters in Mumbai. The company offers a wide range of plans catering to the needs of investors. These plans by ICICI Pru MF have excellent ratings and the majority of them are affordable to retail investors. ICICI Prudential AMC also prides itself for superior risk management of risk involved in mutual fund investing.

Here are some of the fund managers at ICICI Prudential Mutual Fund:

Mr. S. Naren – Executive Director & Chief Investment Officer:

At ICICI Prudential AMC, Naren monitors the entire investment function across the Mutual Fund and the International Advisory Business. He also directly handles the ICICI Prudential Dynamic Plan and the ICICI Prudential Top 100 Fund. He has a B. Tech degree from IIT Chennai and an MBA in finance from IIM Kolkata.

Mr. Rahul Goswami – Chief Investment Officer– Fixed Income:

Rahul now works as CIO of Fixed Income. He has an overall work experience of more than 22 years. He currently manages 8 funds at ICICI Prudential. They are ICICI Prudential Liquid Plan, ICICI Prudential Flexible Income Plan, ICICI Prudential Floating Rate Fund, ICICI Prudential Banking & PSU Debt Fund, ICICI Prudential Medium Term Plan, ICICI Prudential Gilt Fund (All Options), ICICI Prudential Multiple Yield Fund, and ICICI Prudential Capital Protection Oriented Fund. Rahul holds a bachelor’s degree in Science and an MBA from Bhopal University.

Mr. Rahul Rai – Head of Real Estate Business: 

At ICICI Prudential, Rahul is responsible for handling the Real Estate Business and driving team synergies. He has an overall work experience of nearly 26 years. He is a Chartered Accountant and has completed the Cost Accountancy and Intermediate level Company, Secretary Course.

2. HDFC Mutual Fund

HDFC is one of India’s leading providers of financial services. HDFC AMC was launched in 1999 and is among the top AMCs in the country. The AMC made a notable name after the acquisition of eight funds from Zurich India Mutual Fund.  HDFC Mutual Fund launched its first product in the year 2000 and has been constantly evolving over the last decade and a half. There are over 11 types of mutual fund schemes. The company has recently traded in IPO and has soared a massive 65% in its debut. The overall assets under management (AUM) are INR 3,06,840.72 Cr (as on June 30, 2018). These funds were then renamed to funds such as HDFC Top 200 Fund, HDFC Equity Fund, etc. The fund house offers nearly 900 funds across all categories and has some of the notable funds to its credit such as:

  • HDFC Balanced Fund
  • HDFC Top 100 Fund

As mentioned above, HDFC MF offers a wide range of mutual funds to cater to the needs of investors. Majority of schemes by HDFC Mutual Fund have excellent CRISIL rating of three and above. By investing in HDFC MF investors can avail tax benefits as well. Schemes by HDFC Mutual Fund are managed by highly experienced industry experts to manage the overall risk.

Here are some of the fund managers at HDFC Mutual Fund:

Mr. Prashant Jain- Executive Director & Chief Investment Officer

Over 20 years of experience in fund management and research in the mutual fund industry.

Mr. Shobhit Mehrotra- Senior Fund Manager and Head of Credit

He has over 18 years of experience in Fixed Income markets, credit rating etc

Mr. Vinay R. Kulkarni- Senior Fund Manager

Collectively over 22 years of experience, of which 20 years in Fund Management and Equity Research and 2 years in the IT industry.

Mr. Anupam Joshi – Fund Manager in Fixed Income group

He has more than 10 years’ experience in fund management, research, and dealing.

3. Reliance Mutual Fund

Reliance Mutual Fund is one of the fastest developing mutual fund houses in India. The mutual fund is sponsored by a joint venture of Nippon Life Insurance (Japan) and Reliance Capital (India). The company has an impressive track record of consistent returns. Reliance Mutual Fund has a presence in more than 150 cities in India. The diverse array of offerings has something for everyone. The company has over 55 lakh active portfolios. There are over 200 schemes in place for customers to choose from. While Reliance currently has less AUM as compared to ICICI and HDFC, the fund offers close 1100 funds and enjoys decent popularity in India. Some of the notable mutual fund schemes offered by Reliance Mutual Fund are:

  • Reliance Small Cap Fund
  • Reliance Liquid Fund

Reliance Mutual Fund was set up on June 30, 1995, and has its headquarters in Santacruz, Mumbai. The AMC has been plying its trade in the market for over two decades and has massive experience in identifying the basic needs of the investors. This experience in the market allows them to pick stocks and funds that possess a good potential to generate returns for the investors. The company prides itself in launching new and innovative schemes in the market and have a large bouquet of funds and schemes to cater to the specific needs of the investors.  The customer care support offered by the Reliance Mutual Fund is quite robust and along with their strong pan-India network, they value their customers and are open for communication at all times.

Here are some of the fund managers at Reliance Mutual Fund:

Mr. Ashwani Kumar – Senior Fund Manager – Equity Investments:

Over 18 years of experience in the financial services industry. He has been a Fund Manager since 2003.

Mr. Sailesh Raj Bhan – Deputy CIO

About 19 years of experience in equity research and fund management.

Mr. Samir Rachh – Fund Manager – Equity Investments:

Total experience of more than 25 years. He is a commerce graduate from Mumbai University.

Mr. Sanjay Parekh – Senior Fund Manager – Equity Investments

Over 18 years of experience in equity research and fund management, 9 years in fund management and 8 years as an analyst across various sectors.

4. Aditya Birla Sun Life Mutual Fund

The fund house manages over Rs 2,41,107 crore in AUM currently spread across 600+ schemes. The AMC is a joint venture between Aditya Birla Group of India and Sun Life Financial Inc. of Canada and was started in 1994. The company has now established a strong reputation and gained wide recognition in the mutual fund industry. The Birla Sun Life Mutual Fund offers a broad spectrum of mutual fund schemes ranging from diversified equity schemes to sector-specific schemes. It also offers debts mutual funds, hybrid schemes, fund of fund schemes, monthly income plans, and offshore funds. It boasts of a diverse range of investments and sound financial portfolio. The company specializes in various investment objectives like tax savings, personal savings, wealth creation etc. It is well known for its consistency in helping its customers to reach their financial goals. The company’s schemes are well crafted to cater to the needs of the investors. Some of the notable funds offered by the AMC include

  • Aditya Birla Sun Life Tax Relief 96
  • Aditya Birla Sun Life Balanced 95 Fund.

The company is a hugely trusted brand among investors and one of the first companies preferred by novice investors. They specialize in tracking down the best companies and investing in them. The company focuses on delivering transparent, ethical, research-based, and efficient capital management services to give optimum benefits to its investors. The mutual fund schemes offered by Birla SunLife Mutual Fund are highly formulated and are well researched. The help investors to achieve their financial objectives, career goals, and due inheritance. The plans cover both aggressive and conservative investors and cater to the various requirements of the investors.

Here are some of the fund managers at Aditya Birla Sun Life Mutual Fund:

Mr. Mahesh Patil, Co-Chief Investment Officer, Equity:

As Co-Chief Investment Officer, Mahesh Patil spearheads Equity Investments at Aditya Birla Sun Life AMC Limited. With over twenty-seven years of rich experience in fund and investment management, Mahesh leads a team of twenty, comprising fund managers and analysts, managing around INR 88,590 crores in equity assets.

Mr. Maneesh Dangi, Co-Chief Investment Officer, Debt:

As Co-Chief Investment Officer, Maneesh Dangi spearheads Fixed Income investments at Aditya Birla Sun Life AMC Limited. With over eighteen years of rich experience in Finance and Research, Maneesh leads a team of twenty-two, comprising fund managers and analysts, managing around INR 155,424 crores.

Mr. Anil Shah, Sr. Fund Manager:

He has over 24 years of experience in equity research and investments. He is B.Com, C.A, and a Cost Accountant.

Mr. Ajay Garg, Sr Fund Manager:

Ajay has over 15 years of work experience in financial services. He has a degree of B.E. in Electronics and has an MBA in Finance.

5. SBI Mutual Fund

SBI Mutual Fund is managed by SBI Fund Management Company. SBI Fund Management Company is India’s oldest asset management company. It boasts a rich history of over two and a half decades in investing and fund management. The AMC is a joint venture between the State Bank of India (SBI) and Amundi, a European Asset Management Company. The fund house manages assets over Rs 2,05,273 crore and offers 550+ funds. It has an extensive reach in the country with over 200 acceptance points all over. The user base of SBI Mutual Fund is well over 50 lakhs. The company is India’s one of the most trusted and popular mutual fund scheme provider. The company is also a leading enterprise in terms of offshore fund management. Some of the notable funds include:

  • SBI Blue Chip Fund
  • SBI Magnum Multi-Cap Fund.

SBI Mutual Fund is one of the most popular mutual fund company across the country. People have huge trust in the AMC because of the high amount of safety offered by the schemes. SBI MF is undoubtedly one of the most trusted brands in the country. Investing in SBI MF schemes give you various advantages such as tax benefit and capital appreciation.  SBI Mutual Fund has expertise in managing both onshore and offshore funds and it also has a provision for NRIs to invest in mutual funds in India.

Here are some of the fund managers at SBI MF:

Mr. Navneet Munot, Executive Director & Chief Investment Officer:

Navneet has more than 24 years of rich experience in Financial Markets. He is now responsible for overseeing investments worth over USD 40 billion across various asset classes in mutual fund and segregated accounts.

Mr. R Srinivasn, Head of Equity:

R Srinivasan is now the Head of Equity and also directly manages a number of funds. He has an experience of over 25 years.

Mr. Rajeev Radhakrishnan, Head of Fixed Income & Fund Manager:

Rajeev currently heads the Fixed Income desk at the AMC. He has a degree of Engineering and holds a Masters degree in finance from Mumbai University. He is also a charter holder of the CFA Institute, USA.

Ms. Sohini Andani, Fund Manager:

Sohini joined SBIFM as Head of Research in 2007 and was subsequently promoted as a portfolio manager in 2010.

6. UTI Mutual Fund

UTI was founded in 1963 and is one of the first asset management companies in India. The AMC, UTI Mutual Fund is sponsored by the four biggest institutes in the public sector: SBI, PNB, BoB, and LIC. Being the first company to offer mutual fund, UTI offers some of the best schemes with assured returns. Investment in UTI easy and can be accessed at any time of the year. UTI Mutual Fund schemes are managed by the sharpest minds in finance domain and hence the yields from their schemes are reliable and in line with their capital appreciation objectives. With nearly 1400 funds, the AMC manages over Rs 1,53,364 crore in AUM and offers fund across multiple categories. Some of the notable funds across categories include:

  • UTI Equity Fund
  • UTI Bond Fund

UTI AMC is India’s one of the most trusted wealth creators and is well known to care for the interest of its investors in its heart. UTI AMC has been India’s leading Financial service institution for almost 50 years and it was a primary vehicle of Indian Citizens for investing in the capital market until the early ’90s. The institution has shown incredible versatility and has developed from quality to quality beating economic changes and volatilities and worldwide turnarounds. UTI AMC has contributed significantly to the development of the industrial and capital sector of the Indian markets. It has spearheaded the transformative ingenuities such as rural outreach programs, developmental financial institutions, and financial products and services. UTI AMC manages assets across different businesses, which include Portfolio Management Services, domestic mutual fund, Retirement Solutions, International business, Alternative Investment assets, and Venture Funds.

Some of the fund managers at UTI Mutual Fund are:

Mr. Vetri Subramaniam – Group President & Head-Equity:

Vetri Subramaniam is Group President & Head of Equity at UTI Asset Management Company Ltd. He has been in this role since January 2017. UTI MF manages assets of Rs 1524 bn and the total assets under management of UTI are Rs 3615 bn.

Mr. Amandeep Chopra, Group President & Head-Fixed Income:

Mr. Amandeep Singh Chopra is the Group President & Head of Fixed Income of UTI AMC Ltd. He serves on the Executive Investment Committee (EIC), the Valuation Committee and the Management Committee of UTI AMC Ltd. He is also a member of the Valuation Committee of the Association of Mutual Funds in India (AMFI) and was also a member of the Corporate Bonds and Securitization Advisory Committee (CoBoSAC) of SEBI which advises SEBI on issues related to further developments of these markets.

Mr. Sanjay Ramdas Dongre, Executive Vice President and Sr Fund Manager – Equity:

Mr. Sanjay Dongre is Executive Vice President and Sr Fund Manager – Equity at UTI AMC Ltd. He is a B.E. (Instrumentation) graduate from College of Engineering and a PGDM from IIM Calcutta.

Ms. Swati Kulkarni, Executive Vice President, and Fund Manager:

Ms. Swati Kulkarni is Executive Vice President and Fund Manager – Equity at UTI AMC Ltd. After her graduation in Commerce, she went on to earn her Masters in Financial Management from Narsee Monjee Institute of Management Studies from the University of Mumbai, where she also distinguished herself as a rank holder.

7. Kotak Mahindra Mutual Fund

Kotak Mahindra Bank is the fourth biggest private sector bank in India and has an AA+ brand rating. The brand value of Kotak Mahindra is over US$481 million. The company ranks at a respectable rank of 245 among the top 500 banks across the globe. The company offers more than 40 schemes for investors to choose from depending on their risk profile and time horizon. The AMC offers different schemes with variable risk according to the specific customer requirement. It was the first fund house in the country to launch a dedicated gilt fund scheme. The company operates in over 70 cities in India currently and has a healthy network of more than 75 branches to help the customers. The AMC has AUM of over Rs 1,19,800 crore, and the fund house offers over 300 funds. Some of the notable funds by Kotak Mahindra MF include:

  • Kotak Select Focus Fund
  • Kotak Taxsaver Fund.

Kotak Mahindra Mutual Fund was launched in the year 1998 and has its headquarters in Bandra, Mumbai. Majority of mutual fund schemes offered by Kotak MF have high credit ratings. Kotak AMC offers a wide range of schemes that offer you benefits such as wealth creation and tax rebates.

Here are some of the fund managers at Kotak Mahindra Mutual Fund:

Ms. Lakshmi Iyer – Chief Investment Officer (Debt) & Head Products:

Joined KMAMC in 1999 as a fund manager, and was responsible for credit research as well as deal execution, managing fund performance across all debt funds and assisting sales in client interaction.

Mr. Abhishek Bisen – Vice President & Fund Manager (Debt):

Associated with the company since October 2006 and his key responsibilities include fund management of debt schemes. The schemes managed by him are Kotak Monthly Income Plan, Kotak Bond, Kotak Gilt Investment (Regular & PF-Trust), Kotak Multi Asset Allocation Fund, Kotak Balance, Kotak Equity Savings Fund, Kotak Global Emerging Market Fund, Kotak Gold Fund, and Kotak Gold ETF.

Mr. Deepak Agrawal – Vice President & Fund Manager (Debt):

Over 16 years of experience in Research, Dealing and Fund Management. He is managing Kotak Bond Short Term, Kotak Banking & PSU Debt Fund, Kotak Dynamic Bond Fund, Kotak Savings Fund, Kotak Liquid, Kotak Money Market Scheme, Kotak Credit Risk Fund, Kotak Medium Term Fund, Kotak Corporate Bond Fund, Kotak Low Duration Fund, FMPs & QIPs.

Mr. Harsha Upadhyaya – Chief Investment Officer – Equity:

Harsha Upadhyaya heads the equity desk at KMAMC, and also directly manages funds such as Kotak Standard Multicap Fund, Kotak Equity Opportunities Fund, and Kotak Tax Saver. Harsha has over two decades of experience spread across equity research and fund management.

8. Franklin Templeton Mutual Fund 

Franklin Templeton is an American company that was established in 1947. The company’s Indian office was set up in 1996 and ever since its AUM has been growing rapidly. Some of the notable funds include:

  • Franklin India Flexi Cap Fund
  • Franklin India Low Duration Fund

Franklin Templeton Mutual Fund is sponsored by Templeton International Inc. Its assets are managed by Templeton Asset Management. This AMC is one of the oldest AMCs in India. In 2002, it acquired Pioneer ITI and added considerably to its user base. It aims to build a company with a broad range of investment experience and has built profitable mutual fund portfolios. Since the consolidation, the business has scaled substantially. This has catapulted Franklin Templeton to be considered as one of the top fund houses in India. The company focuses on short-term market fluctuations, revenues, cash flows, and the intrinsic value of the company to provide the perfect solution to the customer query.

Here are some of the fund managers at Franklin Templeton AMC:

Mr. K. N. Sivasubramanian, Chief Investment Officer, Equity:

He is responsible for overseeing Franklin Equity Team’s local India Funds.

Mr. Anand Vasudevan: Sr. Vice President, Equity:

He is working as a fund manager for Franklin Equity Team. He has B.Tech degree from IIT Madras, PGDM from IIM Calcutta, and Masters in Finance from London Business School. He has an overall experience of over 10 years.

Mr. Rajat Malhotra:

Raja has a Masters degree in Computational Finance (USA), a Bachelor’s of Computing (Computer Science) from NUS Singapore. He has over 6 years of experience in this industry. He is responsible for fund and investment management at Franklin Templeton.

9. DSP Mutual Fund

Initially, AMC was a joint venture between the 150-year old DSP and BlackRock Group. Recently, DSP decided to buy out the 40% stake of BlackRock Inc in the joint venture. This lead to DSP BlackRock Mutual Fund renamed to DSP Mutual Fund. With AUM of over Rs 86,255 crore and over 250 funds, the fund house has made a notable name in the mutual fund industry. Some of the notable funds include:

  • DSP Focus 25 Fund
  • DSP Opportunities Fund

DSP is among the oldest business groups in India. It has a rich and strong history of more than 145 years. DSP MF offers a wide range of mutual fund schemes. DSP’s Equity fund schemes are considered to be its flagship products. The company is well known for providing custom-made mutual fund schemes according to the need of their investors. Many of the mutual fund schemes offered by DSP Mutual Fund are highly popular in the market and are often considered as a benchmark for comparison with other mutual fund schemes.

Here are some of the fund managers at DSP Mutual Fund:

Mr. Apoorva Shah, Fund Manager:

Apoorva has a Post Graduate Diploma in Management (PGDM) from the Indian Institute of Management (IIM), Ahmedabad. He as an overall work experience of over 25 years of in the sector of banking and investment.

Mr. Atul Bhole, Fund Manager:

Atul has over 10 Years of experience and his Masters in Management Studies from Jamnalal Bajaj Institute of Management Studies. He has also cleared his Chartered Accountancy exams.

Ms. Gauri Sekaria, Fund Manager:

Gauri is the fund manager of the DSP Equal NIFTY 50 Fund and has more than 12 years of experience in managing passive funds across various Index Funds and ETFs.

Mr. Gopal Agrawal, Senior Fund Manager:

Gopal has more than 20 years of experience in this industry. He has extensive experience in sectors like Oil & Gas, Petrochemicals, Capital Goods, Power, Metals, Shipping, Chemicals & Fertilizers and Engineering.

10. IDFC Mutual Fund

IDFC Ltd was set up by the Government of India in 1997. IDFC Mutual Fund is wholly managed by IDFC Asset Management Company Ltd. The AMC provides different products and schemes for institutional investors as well as individual investors. The company aims to develop assets through measures like savings in equity and debt markets. AMC’s investments and portfolios around infrastructure are one of the best in the markets. IDFC has a strong connection with the private sector and government. This helps it to offer smart and unbiased wealth management and growth advice and help investors. There are over 50 mutual funds schemes in place to cater to the needs of the investors. The AMC launched its first mutual fund in 2000 and currently has around 300 funds to offer with AUM of over Rs 71,388 crore. Some of the notable funds offered by IDFC Mutual Fund include:

  • IDFC Super Saver Income Fund
  • IDFC Large-Cap Fund

Here are some of the fund managers at IDFC MF:

Mr. Daylynn Pinto – Associate Director – Fund Management:

Experience spanning over 12 years in the mutual fund industry. He holds Post Graduate Diploma in Management (PGDM) and Bachelor’s degree in Commerce

Mr. Rajendra K. Mishra – Fund Manager:

The overall experience of 15+ years (including 12+ years in Equities & Investments). He is an MBA from Indian Institute of Management, Lucknow, and Engineering from National Institute of Technology, Jamshedpur

Mr. Sunil Nair – Senior Vice President – Fund Management:

Experience of over 19 years in Equity Dealing. He holds a Bachelors Degree in Arts.

Mr. Sumit Agrawal – Vice President – Fund Management at IDFC Asset Management Company Limited:

More than 12 years’ experience in the Finance Industry. He holds PGDM in Finance, Chartered Financial Analyst (USA) and is a Company Secretary affiliated with Institute of Company Secretaries of India and Bachelor Degree in Commerce.

Top Asset Management Companies in India

Mutual FundsAUM (Cr)% Change (Q-Q)
ICICI Prudential Mutual Fund2,93,3385.11
HDFC Mutual Fund2,89,1687.19
Reliance Mutual Fund2,43,5945.26
Aditya Birla Sun Life Mutual Fund2,41,1077.33
SBI Mutual Fund2,05,2739.17
UTI Mutual Fund1,53,3641.79
Kotak Mahindra Mutual Fund1,198008.29
Franklin Templeton Mutual Fund99,8045.34
DSP Mutual Fund86,25510.84
IDFC Mutual Fund71,3887.58

Source: AMFI

Conclusion

Asset management companies manage huge amounts of money gathered from investors through multiple schemes. Investors thus, place their trust in the company and the fund manager who will be handling their hard-earned money. Investing in the above-mentioned top 10 AMCs will help in your savings and generating wealth over time.

To log in and invest in any of the funds click here. To sign up on our platform click here.

Nitin Agrawal
Nitin Agrawal
nitin@orowealth.com

Nitin is the Co-founder and CEO at Orowealth and has worked at Deutsche Bank for 6 years in Equity Structuring across their London and Singapore offices. He is a MBA from IIM Bangalore and has a degree in Electrical Engineering from IIT Bombay.

8 Comments
  • Avatar
    Ashish
    Posted at 12:09h, 22 April Reply

    This is a good overview. Thanks!

  • Avatar
    rajiv
    Posted at 08:59h, 04 June Reply

    This is a great informatic article . in this aritcle good informatin top 10 assestmanagment companies.

  • Avatar
    panmkaj
    Posted at 09:00h, 04 June Reply

    Good information thanku.

  • Avatar
    usha
    Posted at 09:03h, 04 June Reply

    Good article sir thamks fore writing

  • Avatar
    Vidhya vidhu
    Posted at 07:19h, 17 June Reply

    Investments should be measured on risks and as well as risks over a period of time.

  • Avatar
    Aghori baba
    Posted at 08:32h, 24 June Reply

    Good informatio of top 10 asset managment companies. thanks fore sharing this information

  • Avatar
    Hari om
    Posted at 05:32h, 26 June Reply

    Great information . thanks fore sharing this information.

  • Avatar
    Rahul
    Posted at 05:35h, 26 June Reply

    excelent work. you are discribe very well .

Post A Comment

Pin It on Pinterest