Top 10 Mutual Fund Houses in India (2024)
14 June 2024
7 min read
00:00 / 00:00
Mutual fund house hires fund managers with expertise in the stock market and significant years of experience. So, the fund managers collect funds from a large number of investors to create a diversified portfolio comprising stocks, bonds, and other assets.
In India, mutual funds are regulated by the Securities and Exchange Board of India (SEBI). The country hosts numerous mutual fund companies, each offering a range of schemes tailored to cater to diverse investor objectives. In this article, we will learn about the top 10 mutual fund houses in India.
What is a Mutual Fund House?
A Mutual fund house is also known as an AMC (Asset Management Company), which collects money from investors and invests it across a range of assets and securities, such as stocks and bonds. AMC appoints professionals known as fund managers with extensive experience in investment markets to manage these funds. They make strategic investment decisions to generate profitable returns for investors.
In India, top fund managers craft portfolios tailored to various factors including risk tolerance, tax considerations, and investment timeframes. This personalized approach helps cater to investors who may not have deep knowledge of financial markets or investment strategies.
For example, in equity funds, the main focus is to invest predominantly in shares of diverse companies. On the other hand, in debt funds, investments are made mostly in debt securities such as government securities, corporate bonds, and similar instruments.
Also Read: How Mutual Funds Work in India
List of Top 10 Mutual Fund Companies in India
1. SBI Mutual Fund
2. ICICI Prudential Mutual Fund
3. HDFC Mutual Fund
4. Aditya Birla Sun Life Mutual Fund
5. Kotak Mahindra Mutual Fund
6. Nippon India Mutual Fund
7. Axis Mutual Fund
8. UTI Mutual Fund
9. IDFC Mutual Fund
10. DSP Mutual Fund
Top 10 Mutual Fund Houses in India
1. SBI Mutual Fund
SBI Mutual Fund, one of the top mutual fund houses in India, was established under the Trust Act of 1882 and is a significant player in India’s mutual fund landscape. It began operations in 1987 and became the country’s second mutual fund. Noteworthy for its pioneering initiatives like the Contra Fund and ESG Fund, it acquired Daiwa Mutual Fund in 2013. With assets worth Rs. 9.14 lakh crores as of March 2024, it ranks as the third-largest mutual fund in India, regulated by SEBI.
List of SBI mutual funds:
Fund name | Min SIP amount | 1-year return | 3-year return |
SBI Contra Direct Plan-Growth | Rs.500 | 47.74% | 31.02% |
SBI Long-Term Equity Fund Direct Plan-Growth | Rs.500 | 56.28% | 28.11% |
SBI Healthcare Opportunities Fund Direct Plan-Growth | Rs.500 | 53.20% | 17.58% |
SBI Conservative Hybrid Fund Direct-Growth | Rs.500 | 13.65% | 10.85% |
SBI Magnum Gilt Fund Direct-Growth | Rs.500 | 7.27% | 6.22% |
2. ICICI Prudential Mutual Fund
ICICI Prudential Asset Management Company Ltd. is a prominent joint venture between ICICI Bank and Prudential Plc. They have been offering diverse investment solutions since 1998. It provides mutual funds, portfolio management services, and international advisory mandates across various asset classes.
List of some ICICI Prudential Mutual Funds:
Fund name | Min SIP amount | 1-year return | 3-year return |
ICICI Prudential BHARAT 22 FOF Direct Growth | Rs.1000 | 61.14% | 40.43% |
ICICI Prudential Retirement Fund Pure Equity Plan Direct-Growth | Rs.100 | 52.69% | 30.23% |
ICICI Prudential Large & Mid Cap Fund Direct Plan-Growth | Rs.100 | 42.91% | 26.81% |
ICICI Prudential Value Discovery Direct Growth | Rs.100 | 40.44% | 25.67% |
ICICI Prudential India Equity FOF Direct Growth | Rs.100 | 46.44% | 25.39% |
3. HDFC Mutual Fund
HDFC Asset Management Company Ltd. is the largest and most profitable mutual fund in India. It manages assets worth Rs. 6.1 trillion as of March 2024. It has a robust network of over 75,000 distribution partners across 210 branches in 200 cities. Additionally, it offers portfolio management services since September 2016.
List of some HDFC mutual funds:
Fund name | Min SIP amount | 1-year return | 3-year return |
HDFC Retirement Savings Fund Equity Plan Direct-Growth | Rs.100 | 34.86 | 25.23 |
HDFC Balanced Advantage Fund Direct Plan-Growth | Rs.100 | 37.82% | 25.09 |
HDFC Retirement Savings Fund Hybrid Equity Plan Direct-Growth | Rs.100 | 26.50% | 17.63% |
HDFC Dynamic PE Ratio FoF Direct Growth | Rs.100 | 23.88% | 16.35% |
HDFC Regular Savings Fund Direct-Growth | Rs.300 | 6.34% | 8.88% |
4. Aditya Birla Sun Life Mutual Fund
Aditya Birla Sun Life Mutual Funds (ABSLMF) is a major player in India’s financial sector. With headquarters in Mumbai, it manages assets of Rs. 3.31 trillion as of March 2024. It offers diverse fund options and aims to expand mutual fund penetration in India, serving 7.9 million investor folios across 280 locations with a transparent and simplified approach.
List of some Aditya Birla Sun Life Mutual Funds:
Fund name | Min SIP amount | 1-year return | 3-year return |
Aditya Birla Sun Life Medium Term Plan Direct-Growth | Rs.1000 | 7.23% | 13.08% |
Aditya Birla Sun Life Dynamic Bond Retail Fund Direct-Growth | Rs.1000 | 6.91% | 6.81% |
Aditya Birla Sun Life Floating Rate Direct Fund Growth | Rs.1000 | 7.78% | 6.09% |
Aditya Birla Sun Life Money Manager Fund Direct-Growth | Rs.1000 | 7.72% | 5.98% |
Aditya Birla Sun Life Liquid Fund Direct-Growth | Rs.100 | 7.37% | 5.69% |
5. Kotak Mahindra Mutual Fund
Kotak Mahindra Asset Management Company Limited (KMAMC) was established in 1994 and is the asset manager of Kotak Mahindra Mutual Fund, a subsidiary of Kotak Mahindra Bank. It offers a diverse range of schemes, including a gilt fund for government securities. With assets exceeding 3.81 lakh crores, it operates 86 branches across 82 cities, serving 25.9 lakh investors.
List of some Kotak Mutual Funds:
Fund name | Min SIP amount | 1-year return | 3-year return |
Kotak Infrastructure and Economic Reform Fund Direct-Growth | Rs.100 | 52.70% | 36.47% |
Kotak Equity Savings Fund Direct-Growth | Rs.100 | 19.30% | 13.07% |
Kotak Debt Hybrid Fund Direct-Growth | Rs.100 | 16.33% | 11.71% |
Kotak India EQ Contra Fund Direct-Growth | Rs.100 | 47.19% | 24.75% |
Kotak Emerging Equity Fund Direct-Growth | Rs.100 | 40.75% | 24.08% |
6. Nippon India Mutual Fund
Nippon India Mutual Funds, formerly Reliance Mutual Fund, is a prominent AMC in India managed by Nippon Life India Asset Management Limited. Founded in 1995, it’s a joint venture between Reliance Capital and Nippon Life Insurance. With assets totaling Rs. 4.31 trillion, it offers a diverse range of 52 equity, 266 debt, and 40 balanced funds, led by CEO Sundeep Sikka.
List of some Nippon India Mutual Funds:
Fund name | Min SIP amount | 1-year return | 3-year return |
Nippon India Large Cap Fund Direct-Growth | Rs.100 | 37.08% | 24.92% |
Nippon India Strategic Debt Fund Direct-Growth | Rs.100 | 6.55% | 9.76% |
Nippon India Ultra Short Duration Fund Direct-Growth | Rs.100 | 7.72% | 7.54% |
Nippon India Corporate Bond Fund Direct-Growth | Rs.100 | 7.32% | 6.21% |
Nippon India Small Cap Fund Direct-Growth | Rs.100 | 53.36% | 33.83% |
7. Axis Mutual Fund
Axis Asset Management Company Ltd., the investment arm of Axis Bank, emphasizes customer-centricity, long-term wealth creation, and relationship building. With 74.99% ownership by Axis Bank and 24% by Schroder Singapore Holdings, it manages Assets Under Management of Rs. 2.74 trillion as of March 2024.
List of some Axis Mutual Funds:
Fund name | Min SIP amount | 1-year return | 3-year return |
Axis Small Cap Fund Direct-Growth | Rs.100 | 35.97% | 24.89% |
Axis Gold Direct Plan-Growth | Rs.100 | 15.57% | 13.66% |
Axis Overnight Fund Direct-Growth | NA | 6.82% | 5.32% |
Axis Growth Opportunities Fund Direct-Growth | Rs.100 | 37.57% | 20.06% |
Axis Strategic Bond Fund Direct-Growth | Rs.100 | 7.64% | 6.55% |
8. UTI Mutual Fund
UTI Mutual Fund is backed by major PSU banks and boasts over 11 million investors with an AuM of nearly Rs 238,790 Crores. Offering extensive distribution, it pioneers ULIPs, offshore funds, and innovative schemes like UTI Mastershare and UTI Wealth Builder Fund, managed by UTI Asset Management Company.
List of some UTI mutual funds:
Fund name | Min SIP amount | 1-year return | 3-year return |
UTI Medium to Long Duration Fund Direct-Growth | Rs.500 | 5.72% | 9.76% |
UTI Short Duration Direct Growth | Rs.500 | 7.57% | 7.59% |
UTI Low Duration Fund Direct-Growth | Rs.500 | 7.26% | 7.42% |
UTI Ultra Short Duration Fund Direct-Growth | Rs.500 | 7.53% | 6.74% |
UTI Nifty200 Momentum 30 Index Fund Direct-Growth | Rs.500 | 64.27% | 24.55% |
9. IDFC Mutual Fund
Established in March 2000, Bandhan Mutual Fund is a major player in India’s financial sector, managing assets worth Rs. 137,193.31 crores as of March 2024. Following the acquisition of IDFC Asset Management Company in April 2022, it offers 76 diversified mutual fund schemes across debt, equity, and hybrid categories, led by an experienced team of fund managers.
List of some IDFC mutual funds:
Fund name | Min SIP amount | 1-year return | 3-year return |
Bandhan ELSS Tax Saver Fund Direct Plan-Growth | Rs.500 | 33.89% | 21.53% |
Bandhan Core Equity Fund Direct-Growth | Rs.100 | 52.95% | 25.99% |
Bandhan Sterling Value Fund Direct Plan-Growth | Rs.100 | 40.19% | 25.83% |
Bandhan ELSS Tax Saver Fund Direct Plan-Growth | Rs.500 | 33.89% | 21.53% |
Bandhan Large Cap Fund Direct-Growth | Rs.100 | 31.39% | 17.78% |
10. DSP Mutual Fund
DSP Mutual Fund, a leading AMC in India, offers various mutual fund schemes across various categories, prioritizing client interests and wealth security. DSP Group, a 152-year-old financial company with deep roots in stockbroking, backs it. Led by Mr. Hemendra Kothari, it has a strong legacy of investment excellence.
List of some DSP mutual funds:
Fund name | Min SIP amount | 1-year return | 3-year return |
DSP ELSS Tax Saver Direct Plan-Growth | Rs.500 | 39.83% | 20.56% |
DSP ELSS Tax Saver Direct Plan-Growth | Rs.500 | 39.83% | 20.56% |
DSP Nifty 50 Equal Weight Index Fund Direct-Growth | Rs.100 | 33.15% | 19.10% |
DSP Government Securities Direct Plan-Growth | Rs.100 | 7.78% | 5.94% |
DSP Overnight Fund Direct-Growth | Rs.100 | 6.81% | 5.31% |
Conclusion
To conclude, Mutual fund houses play an important role as it offers various mutual fund schemes that meet the needs of different types of investors. Investing in mutual funds can help you grow your wealth over time. To explore more about these mutual fund houses, visit their respective AMC mutual fund websites for detailed information on their offerings and performance. By examining the mutual fund houses by Aum alongside the mutual fund houses list, you can identify key players in the market and assess their performance, reputation, and suitability to meet your investment objectives.
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