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Kotak Mutual Fund is an Indian mutual fund that is managed by Mahindra Asset Management Company (KMAMC). KMAMC started operations in December 1998 and as of 2018, had approximately 74 Lakh investors in various schemes. [6] The fund is a wholly-owned subsidiary of Kotak Mahindra Bank.
Over time, Kotak Emerging Equity grew to become the second-largest midcap fund in India, while Kotak Small Cap Fund became the country's fifth-largest small-cap fund. [6] [7] In 2017, Pankaj was listed among the top 10 mutual fund managers by the Economic Times. [8]
Mahindra AMC Pvt Ltd is the Investment Manager for Mahindra Mutual Fund. It started its operation in July 2016, with an AUM of ₹120 crore. Currently its NAV is floating around ₹1000. Mahindra Mutual Fund endeavors to offer a variety of mutual fund schemes pan India, with special focus in rural and semi-urban areas. [12]
The total Assets Under Management (AUM) of the Indian mutual fund industry as of December 31, 2023, stood at a staggering ₹ 50.78 trillion (US$590 billion). This is a significant milestone, marking over a six-fold increase compared to the ₹ 8.26 trillion (US$95 billion) recorded in December 2013.
Mutual funds can be penalised for violating norms. Mutual funds dealing exclusively with the money market must register with the Reserve Bank of India. In 1995, private firms were allowed to enter the money market in India and deal with treasury bills, commercial papers, certificates of deposit etc. These are called Money Market Mutual Funds ...
CSCs [clarification needed] normally provide services to mutual funds, insurers, private equity, KRA, and NPS processes. Customers can enquire about their investments, obtain statements, seek portfolio valuations, buy, sell, and switch mutual fund units, notify changes in their account details, and register and submit KRA applications.