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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$97 billion) recorded in December 2013.
It was incorporated on 22 August 1995, as a non-profit organisation. As of now, 44 Asset Management Companies that are registered with SEBI, are its members. Most mutual funds firms in India are its members. The organisation aims to develop the mutual funds market in India, by improving ethical and professional standards. [2]
Considering the active schemes, UTI Mutual Fund is one of the oldest mutual fund companies in India. UTI Mutual Fund has been a pioneer in launching various schemes, such as the UTI Unit Linked Insurance Plan (ULIP) with life and accident cover (launched in 1971), UTI Master Share (launched in 1986), India's first Offshore Fund – India Fund ...
SBI Mutual Fund is an Indian private asset management company [6] introduced by the State Bank of India (SBI) and incorporated in 1987 with its corporate head office located in Mumbai, India. SBIFMPL is a joint venture between the State Bank of India , an Indian public sector bank , and Amundi , a European asset management company.
Axis Mutual Fund is an Indian asset management company.It was established in the year 2009 and has its headquarters in Mumbai. [9] [10]Axis Mutual Fund offers various types of mutual fund schemes to invest in India, such as equity funds, hybrid funds, debt funds, and more.
ICICI Prudential Mutual Fund is an Indian asset management company founded in 1993 as a joint venture between ICICI Bank and Prudential plc. [4] It is the second-largest asset management company in India after the SBI Mutual Fund .
The fund was established in 1985 by Uday Kotak. [7] Kotak Mutual Fund became a wholly-owned subsidiary of Kotak Mahindra Bank Limited in December 1998. In December 2020, it became the first Indian Mutual House to launch the Global REIT Fund of Fund. [8]
In January 2010, the company set up a mutual fund business named as Motilal Oswal Asset Management Company (MOAMC). [10] In 2013, the company established Aspire Home Finance Corporation Limited (AHFCL). [5] The company offers loans for home, construction, composite, improvement and extension in India. [11]
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