Asset Management Companies or as they are commonly known AMCs are the firms that manage the pooled money from investors and manage it by investing that money in different avenues like equity securities, debt securities, money market securities etc. AMCs have experts called fund managers who do research and evaluate the funds on various parameters like associated risk, return, liquidity, market share etc. once the fund manager approves of the target fund, the decision regarding investing in the given fund is taken. The primary objective of a fund manager is to ensure that investing in a particular fund meets to objectives of investors and helps realize their investment goal.
What is the role of an AMC in mutual fund investing?Asset management companies serve a crucial role in the success of your investment portfolio. Basically, investing through an AMC simply means buying the pre-defined portfolio as offered by them. The AMC is largely responsible for driving your investment portfolio and make decisions regarding the success of it. The fund manager does an analysis regarding the performance of various funds and makes the investment decision as per the investment objective.
What are the top 10 AMCs in India? There are a lot of AMCs in India, to be precise there are 44 AMCs registered with AMFI in India. the market rates these AMCs based on their market reputation, top-performing funds, assets under management and the top management governing them.
Here is a list of top 10 AMCs in India:
1. HDFC MUTUAL FUND
HDFC Mutual Fund is one of the leading AMCs in India with Assets Under Management around 3,06,840.72 Crore. Launched in the year 1999, it is one of the most reputed AMCs in the country. The most sought-after funds from this AMC are HDFC Balanced Fund, HDFC Top 100 Fund. HDFC fund has maintained a Crisil rating of 3 and above throughout.
2. ICICI PRUDENTIAL MUTUAL FUND
ICICI Prudential Mutual Fund is another leading AMC in India with AUM around 2,93,338 Crore and has a huge variety of 1400 plus funds. this is a joint venture between ICICI bank India and Prudential PLC UK set up in the year 1993. The most sought-after funds from this AMC is ICICI Prudential Focused Blue-chip Equity Fund and ICICI Prudential Balanced Fund.
3. SBI MUTUAL FUND
SBI Fund management Company manages the SBI mutual fund with AUM over Rs. 2,05,273 Crore and offers more than 550 plus funds. the SBI mutual fund has over 200 acceptance points across the country with its reach to even rural households. The most sought-after funds of this AMC are SBI Blue-chip fund and SBI Magnum Multi-cap fund.
4. BIRLA SUN LIFE MUTUAL FUND
The Birla Sun Life Mutual Fund is a joint venture between Sun Life Financial Inc. Canada and Aditya Birla group India set up in the year 1994. The AMC manages assets over Rs. 2.41,107 Crore and offers a wide variety of over 600 fund schemes to investors. The most sought-after funds of this AMC are Aditya Birla Sun Life Tax Relief 96 and Aditya Birla Sun Life Balanced 95 Fund. This fund house is known to come up with schemes that are well-researched and custom-fit.
5. RELIANCE MUTUAL FUND
Reliance mutual fund is a venture between Reliance Capital India and Nippon Life Insurance Japan. It is a fast-paced mutual fund with a presence in more than 150 cities in the country. It manages AUM of around Rs. 2,22,575 crore and holds a high reputation in the Indian market.
6. KOTAK MAHINDRA MUTUAL FUND
Funded by Kotak Mahindra Bank India, this AMC offers over 40 investment schemes to its investors. The bank holds a brand value of over 481 million dollars and the fund house manages assets of around Rs. 1,19,800 Crore. The most-sought-after funds of this AMC are Kotak Select Focus Fund and Kotak Tax saver Fund.
7. UTI MUTUAL FUND
Founded in the year 1963, UTI mutual fund is the first Asset Management Company in India performing highly to date. This AMC is funded by LIC, SBI, BoB and PNB and manages assets over Rs. 1.53.364 Crores. It offers a wide variety of 1400 plus funds to investors. The most sought-after funds of this AMC are UTI Equity fund and UTI Bond Fund.
8. FRANKLIN TEMPLETON MUTUAL FUND
Established in the year 1996 in India, this American AMC holds a very good market reputation and has been on an exceptional growth track. This AMC manages AUM around 1,24,873 Crores and holds the most famous funds like Franklin India Flexi Cap Fund and Franklin India Low Duration Fund.
9. AXIS MUTUAL FUND
Axis Mutual Fund was set up in the year 2009 with venture between Axis Bank India and Schroder Singapore Holdings Pvt Ltd. This AMC holds AUM over Rs. 1,02,221 Crore and has offered a consistent return over the years. The best mutual fund schemes of this AMC are Axis Gold fund and Axis Mid Cap Funds.
10. IDFC MUTUAL FUND
IDFC is a government-aided AMC set up in the year 1997 and focuses majorly on debt funds. the AUM of this AMC is Rs. 71,388 Crores and offers over 50 mutual fund schemes to the investors. The two best funds of this AMC are IDFC Super Saver Income Fund and IDFC Large Cap Fund.