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Asset Management Companies in India

Updated on November 18, 2018 , 222 views

Asset management companies in India are broadly categorised into three types; bank-sponsored Mutual Funds, mutual fund institutions, and the private sector mutual funds. There are total 44 asset management companies in India as of today (February 2017). 35 of these AMCs are part of the private sector.

AMCs-in-India

All the asset management companies are part of Association of Mutual Funds in India (AMFI). AMFI was incorporated in 1995 as a non-profit organisation of all the registered AMCs in India.

Since the inception of mutual funds in 1963 by the UTI act of the Parliament, the industry has overseen a significant evolution to reach its present state. The introduction of the public sector then followed by the entry of private sector has marked the momentous phases of the history of the mutual fund industry.

1987 marked the entry of the public sector in the mutual funds market. SBI mutual funds, set up in June 1987, is the oldest public sector managed AMC. SBI Mutual Fund has a rich history of more 25 years and a very impressive track record. The total asset under management (AUM) of SBI Mutual Fund is reported to be over INR 1,31,647 crores in September 2016.

Kothari Pioneer (now merged with Franklin Templeton) was the first private sector managed AMC to enter the mutual fund market in 1993. Franklin Templeton has been in the industry for over two decades now. The total AUM of Franklin Templeton stands over INR 74,576 crores as recorded on September 2016.

Over the years, many private sector AMCs penetrated the mutual funds market. HDFC Mutual Fund set up in 2000 is one of the most successful Mutual Fund Houses in India. As on June 2016, the assets under management of HDFC Mutual Fund stand over INR 2,13,322 crores.

ICICI Prudential Mutual Fund was the top performing AMC in terms of average AUM from June 2015 to June 2016. The total assets under management under ICICI Prudential are estimated at around INR 193,296 crores. This amount shows a growth rate of 24% from the previous year.

Reliance Mutual Fund is one of the most popular asset management companies in the country. Reliance AMC covers around 179 cities across India, making it one of the fastest growing mutual funds in the country. As on September 2016, the total assets under management of the Reliance Mutual Fund is recorded to be over INR 18,000 crores.

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Birla Sun Life Asset Management Company (BSLAMC) is also among the leading and widely known asset management companies in India. It is a joint venture of Aditya Birla Group and Sun Life Financial. The total assets under management of BSLAMC in September 2016 is reported to be INR 1,68,802 crores.

UTI Asset Management Company established in 2002, is sponsored by four public sector companies, namely LIC India, State Bank of India, Bank of Baroda and Punjab National Bank. The AUM of UTI Asset Management Company in September 2016 was estimated at INR 1,27,111 crores.

List of Asset Management Companies in India

The complete list of asset management companies in India is as follows:

AMC Type of AMC Inception Date AUM in Crores (#As on March 2018)
BOI AXA Investment Managers Private Limited Bank Sponsored - Joint Venture (Predominantly Indian) March 31, 2008 5727.84
Canara Robeco Asset Management Company Limited Bank Sponsored - Joint Venture (Predominantly Indian) December 19, 1987 12205.33
SBI Funds Management Private Limited Bank Sponsored - Joint Venture (Predominantly Indian) June 29, 1987 12205.33
Baroda Pioneer Asset Management Company Limited Bank Sponsored - Joint Venture (Predominantly Foreign) November 24, 1994 12895.91
IDBI Asset Management Ltd. Bank Sponsored - Others March 29, 2010 10401.10
Union Asset Management Company Private Limited Bank Sponsored - Others March 23, 2011 3743.63
UTI Asset Management Company Ltd Bank Sponsored - Others February 01, 2003 145286.52
LIC Mutual Fund Asset Management Limited Indian Institutions April 20, 1994 18092.87
Edelweiss Asset Management Limited Private Sector - Indian April 30, 2008 11353.74
Escorts Asset Management Limited Private Sector - Indian April 15, 1996 13.23
IIFL Asset Management Ltd. Private Sector - Indian March 23, 2011 596.85
Indiabulls Asset Management Company Ltd. Private Sector - Indian March 24, 2011 8498.97
JM Financial Asset Management Limited Private Sector - Indian September 15, 1994 12157.02
Kotak Mahindra Asset Management Company Limited(KMAMCL) Private Sector - Indian June 23, 1998 122426.61
L&T Investment Management Limited Private Sector - Indian January 03, 1997 65828.9
Mahindra Asset Management Company Pvt. Ltd. Private Sector - Indian February 04, 2016 3357.51
Motilal Oswal Asset Management Company Limited Private Sector - Indian December 29, 2009 17705.33
Essel Funds Management Company Ltd Private Sector - Indian December 04, 2009 924.72
PPFAS Asset Management Pvt. Ltd. Private Sector - Indian October 10, 2012 1010.38
Quantum Asset Management Company Private Limited Private Sector - Indian December 02, 2005 1249.50
Sahara Asset Management Company Private Limited Private Sector - Indian July 18, 1996 58.35
Shriram Asset Management Co. Ltd. Private Sector - Indian December 05, 1994 42.55
Sundaram Asset Management Company Limited Private Sector - Indian August 24, 1996 31955.35
Tata Asset Management Limited Private Sector - Indian June 30, 1995 46723.25
Taurus Asset Management Company Limited Private Sector - Indian August 20, 1993 475.67
BNP Paribas Asset Management India Private Limited Private Sector - Foreign April 15, 2004 7709.32
Franklin Templeton Asset Management (India) Private Limited Private Sector - Foreign February 19, 1996 102961.13
Invesco Asset Management (India) Private Limited Private Sector - Foreign July 24, 2006 25592.75
Mirae Asset Global Investments (India) Pvt. Ltd. Private Sector - Foreign November 30, 2007 15034.99
Axis Asset Management Company Ltd. Private Sector - Joint Venture -Predominantly Indian September 04, 2009 73858.71
Birla Sun Life Asset Management Company Limited Private Sector - Joint Venture -Predominantly Indian December 23, 1994 244730.86
DSP BlackRock Investment Managers Private Limited Private Sector - Joint Venture -Predominantly Indian December 16, 1996 85172.78
HDFC Asset Management Company Limited Private Sector - Joint Venture -Predominantly Indian June 30, 2000 294968.74
ICICI Prudential Asset Mgmt.Company Limited Private Sector - Joint Venture -Predominantly Indian October 13, 1993 10775.21
IDFC Asset Management Company Limited Private Sector - Joint Venture -Predominantly Indian March 13, 2000 69075.26
Reliance Nippon Life Asset Management Limited Private Sector - Joint Venture -Predominantly Indian June 30, 1995 233132.40
HSBC Asset Management (India) Private Ltd. Private Sector - Joint Venture -Predominantly Foreign May 27, 2002 10543.30
Principal PNB Asset Management Co. Pvt. Ltd. Private Sector - Joint Venture -Predominantly Foreign November 25, 1994 7034.80
DHFL Pramerica Asset Managers Private Limited Private Sector - Joint Venture -Others May 13, 2010 24,80,727

*AUM source- MorningStar

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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