Top 10 Performing Indian Mutual Fund Companies of 2024 by AAUM

The Indian mutual fund industry has been witnessing unprecedented growth in recent years, driven by factors like increasing investor awareness, regulatory reforms, and the emergence of new investment avenues. As of 2024, the industry has evolved into a dynamic ecosystem with various players competing for dominance. Let us look into the top 10 mutual fund companies in India, unravelling their market share and the factors contributing to their success by Average Assets under Management (AAUM).

What is AAUM?

Average Assets Under Management (AAUM) is a crucial metric in the mutual fund industry, serving as barometer of a fund’s size and market presence. Essentially, AAUM represents average value of assets that a mutual fund manages over a specific period, typically calculated on a monthly, quarterly, or annual basis. This metric provides valuable insights into scale of operations, level of investor trust and confidence in a particular mutual fund.

Funds with higher AAUM generally have greater resources at their disposal, enabling them to diversify their portfolios, implement sophisticated investment strategies, and provide increased services to investors. Hence, it serves as a key indicator of a mutual fund’s stability, growth trajectory, and overall prominence within the industry.

SBI Mutual Fund

Claiming the top spot is SBI Mutual Fund, a subsidiary of the State Bank of India, commands a substantial market share. Leveraging its widespread reach and brand credibility, SBI Mutual Fund has emerged as a significant choice for millions of investors across the country. Its diverse fund lineup caters to various investment objectives, making it a formidable player in the industry.

Market Share by Average Assets Under Management (AAUM) – Rs 700,990 crores.

ICICI Prudential Mutual Fund

Securing the second position is ICICI Prudential Mutual Fund, a powerhouse in the mutual fund arena. Backed by the strength of two renowned financial institutions, ICICI Bank and Prudential Plc, this fund house boasts a formidable market share. Its innovative product offerings and strong distribution network have propelled its growth trajectory.

Market Share by Average Assets Under Management (AAUM) – Rs 509,588 crores.

HDFC Mutual Fund

HDFC Mutual Fund, a stalwart in the industry known for its robust fund management practices and investor-centric approach, making it land in the third position. With a diverse range of funds catering to different risk appetites, HDFC Mutual Fund has garnered a significant market share through consistent performance and investor trust.

Market Share by Average Assets Under Management (AAUM) – Rs 437,876 crores.

Nippon India Mutual Fund

Formerly known as Reliance Mutual Fund, Nippon India Mutual Fund holds a prominent position in the Indian mutual fund landscape. Renowned for its research-driven investment strategies and diversified product offerings, Nippon India Mutual Fund continues to attract investors with its consistent performance and prudent fund management practices has gained fourth place in the market share rankings.

Market Share by Average Assets Under Management (AAUM) – Rs 287,827 crores.

Kotak Mahindra Mutual Fund

Kotak Mahindra Mutual Fund, a subsidiary of Kotak Mahindra Bank, has carved a niche for itself in the competitive mutual fund landscape by landing itself in the fifth place. Armed with a team of seasoned professionals and a customer-centric approach, Kotak Mahindra Mutual Fund offers a wide array of investment solutions tailored to meet diverse investor needs. Its strong performance track record and emphasis on risk management have propelled its market share growth.

Market Share by Average Assets Under Management (AAUM) – Rs 284,073 crores.

Aditya Birla Sun Life Mutual Fund

With a blend of expertise and innovation, Aditya Birla Sun Life Mutual Fund has captured sixth spot in the market share rankings. Known for its strategic investment approach and unwavering commitment to customer satisfaction, this fund house has witnessed steady growth over the years. Its focus on investor education and transparency has bolstered its reputation in the market.

Market Share by Average Assets Under Management (AAUM) – Rs 261,232 crores.

Axis Mutual Fund

Axis Mutual Fund has emerged as a formidable player in the mutual fund industry, securing the seventh position in terms of market share. With a focus on delivering value to investors through innovative products and personalized services, Axis Mutual Fund has witnessed remarkable growth in recent years. Its emphasis on transparency and ethical business practices has earned it the trust of investors nationwide.

Market Share by Average Assets Under Management (AAUM) – Rs 226,881 crores.

UTI Mutual Fund

UTI Mutual Fund, one of the oldest players in the industry acquires eight position and continues to maintain its relevance by adapting to changing market dynamics. With a rich legacy spanning decades, UTI Mutual Fund enjoys a loyal investor base and a formidable market share. Its commitment to investor welfare, coupled with innovative product offerings, positions it as a key player in the Indian mutual fund space.

Market Share by Average Assets Under Management (AAUM) – Rs 223,698 crores.

Bandhan Mutual Fund

Bandhan Mutual Fund, formerly renowned as IDFC Mutual Fund has swiftly gained its traction in the market share nationwide and positioned at ninth place in market share. By emphasizing transparency and performance, Bandhan Mutual Fund is a promising contender in the Indian Mutual Fund landscape, attracting investors seeking growth potential and ethical investing principles.

Market Share by Average Assets Under Management (AAUM) – Rs 111,592 crores.

DSP Mutual Fund

Rounding off the top 10 in terms of market share is DSP Mutual Fund, known for its prudent investment approach and research-driven strategies. With a focus on long-term wealth creation and investor satisfaction, DSP Mutual Fund has gained traction among retail and institutional investors alike. Its emphasis on risk management and adherence to ethical business practices underscores its credibility in the market.

Market Share by Average Assets Under Management (AAUM) – Rs 107,067 crores.

Mutual Funds offer several key benefits for Investors

Diversification

Mutual Funds pool money from multiple investors to invest in a diversified portfolio of assets such as stocks, bonds, and other securities. This diversification helps spread risk and reduced the impact of poor performance from any single investment.

Professional Management

They are managed by experienced fund managers who conduct research, make investment decisions, and monitor the performance of the portfolio. You can benefit from the expertise and skills of these professionals, who aim to achieve the fund’s investment objectives.

Accessibility

Mutual Funds can be accessible to investors with varying levels of capital. You can start with relatively small amounts and have access to a diversified portfolio that would otherwise be difficult to achieve with individual investments.

Liquidity

They offer liquidity, allowing you to buy and sell shares at the fund’s net asset value (NAV) on any business day. This flexibility provides you with the ability to access their funds quickly when needed.

Cost Efficiency

Mutual Funds benefit from economies of scale, which can result in lower transaction costs and management fees compared to individual investing. Additionally, some mutual funds offer low-cost options, making them cost-effective investment vehicles for you.

Transparency

Usually, Mutual Funds are required to disclose their holdings, performance, and fees regularly, providing you with transparency and visibility into your investments.

Convenience

Mutual Funds provides you with a convenient way to invest in various asset classes without the need for extensive research or active management and you can choose funds based on objectives, risk tolerance, and time horizon, making it easy to create a diversified investment portfolio made to your needs.

Conclusion

The Indian Mutual Fund industry is witnessing a period of unprecedented growth and transformation, with various players contending for dominance. The top 10 mutual fund companies mentioned above have distinguished themselves through their robust fund management practices, innovative product offerings, and unwavering commitment to investor welfare. As investors continue to seek avenues for wealth creation and financial security, these mutual fund giants are poised to shape the future of India’s investment landscape.

Source – https://groww.in/blog/top-amc-asset-management-company-india-biggest