As you can already tell by the name, investment management companies are those that are involved in practices where they manage the assets and investments of their clients. This can very well include a lot of different things like tax strategy, investment strategy, buying & selling of assets, managing asset allocation, and things like that. And on a global stage, Blackrock and Vanguard Group are by far the biggest investment management companies, but what’s the scene right here in India? Well, that’s precisely what we’ll have a look at today because this post is all about the top 5 leading investment management companies in India as of 2024. So, let’s get to the list right away. Here we go.
1. SBI Mutual Fund
See, when it comes to the banking sector, there is literally no other bank that has won the trust of the general public as much as SBI. And when a name in the investment management scene is associated with SBI, people don’t have any problem trusting such a company from the get-go. Take for example the SBI Mutual Fund, which is the largest investment and asset management company in India. This company actually is a joint venture of the State Bank of India, and Amundi, so no wonder why they have made it to the top of our list today. As of 2024 though, SBI Mutual Fund is managing about ₹ 919,519.99 crore. And yes, it is actually the large number of schemes offered by SBI Mutual Fund that makes it stand out. These include equity, debt, hybrid, and even foreign funds.
2. ICICI Prudential Asset Management Company Ltd
Have you ever heard of banks that are too big to fail? Well yes, ICICI is one of them, and the ICICI Prudential Mutual Fund is kind of a subsidiary of ICICI Bank. Well, to be precise, this company, which is a joint venture of ICICI Bank and Prudential Plc, has a huge AUM of ₹ 716,867.52 crores as of March 2024. What makes it unique? Its focus is on the customer and strong results across more than 120 mutual fund schemes. That’s what! Investors have seen impressive results on their investments, from the ICICI Prudential BHARAT 22 FOF Fund to the ICICI Prudential Retirement Fund. All in all, with the help of experts like Mr. Kayzad Eghlim, who has changed the way ETFs are sold, ICICI Prudential continues to lead the market with smart strategies and new offerings.
3. HDFC Mutual Fund
In the world of investing, HDFC Mutual Fund is a name that everyone knows for dependability and success, right? Well, this very company is related to HDFC Ltd and Abrdn Investment Management Limited, which is a joint venture, to be precise. As of mid-2024, it was in charge of assets worth ₹ 614,665.43 crores, which is a pretty huge amount if you think about it for a sec. With schemes in stock, debt, hybrid, and sector-specific categories, HDFC’s portfolio is very broad and can meet the needs of many investors. But their best funds, such as the HDFC Small Cap Fund and the HDFC Mid-Cap Opportunities Fund, are what really set them apart, you know? HDFC Mutual Fund has always given great returns, thanks to the expertise of professionals like Prashant Jain and Chirag Setalvad.
4. Nippon India Mutual Fund
Nippon India Mutual Fund? Aren’t you familiar with this name? Well, how about Reliance Mutual Fund? Yes, that’s just the rename of this company, and now it is called Nippon India Mutual Fund Limited. Talking about their main job which of course is to manage investments and assets, well right now they are in charge of ₹ 438,276.85 crores in investments as of March 2024. The Nippon India Small Cap Fund and the Nippon India Large Cap Fund, which offer high returns, are two of this company’s most well-known schemes. And for sure, Nippon India has grown a lot since Mr. Manish Gunwani took over as CEO. He is known for being very good at small and medium-sized companies.
5. Kotak Mahindra Mutual Fund
Kotak Mahindra Mutual Fund has grown into a powerful asset management company since its start in 1998 as a branch of Kotak Mahindra Bank. Right now though, Kotak has a wide range of equity, debt, and hybrid schemes and is in charge of assets worth ₹ 381,239.57 crores as of mid-2024. Their best funds, like the Kotak Infrastructure and Economic Reform Fund and the Kotak Smallcap Fund, have given investors great results, making them very popular. And yes, with the help of experts like Mr. Pankaj Tibrewal and Ms. Shibani Sircar Kurian, Kotak keeps coming up with new products and services, such as the Kotak Technology Fund, which takes advantage of the growing tech industry.
Conclusion
There you have it. These are by far the biggest and fastest-growing investment management companies right here in India. Though there are many other names climbing up this list super fast, worry not though, we’ll keep you posted wherever there is a change.