Major mutual fund companies in India
Some of the Mutual Funds In India are discussed below:-
Reliance Mutual Funds
Reliance Mutual Fund (RMF) was established as trust under Indian Trusts Act, 1882. The sponsor of RMF is Reliance Capital Limited and Reliance Capital Trustee Co. Limited is the Trustee. It was registered on June 30, 1995 as Reliance Capital Mutual Fund which was changed on March 11, 2004. The money invested by investors in Reliance Mutual Fund is further invested in the equity market or fixed income securities of various sectors and companies to generate a regular income for the investor.
HDFC
HDFC Mutual Fund is governed by HDFC Asset Management Company Limited (AMC). The HDFC mutual fund was approved by SEBI in June 2000. Equity Funds, Balanced Funds, and Debt Funds are the mutual fund schemes offered by HDFC Mutual Fund.
Fidelity
Fidelity was established nearly 40 years ago. The company and its subsidiaries manage over $157.3 billion* for major institutions and millions of investors around the world.
Franklin Templeton mutual Fund
Franklin Templeton Investments is one of the largest financial services groups in the world based at San Mateo, California USA. The group has US$495.7 billion in assets under management globally (As on August 31, 2009). Franklin Templeton has offices in 33 locations across India and manages average AUM of Rs.28866 crores for over 25 lakh investors as of August 31, 2009.
ABN Amro
ABN AMRO Mutual Fund was setup on April 15, 2004 with ABN AMRO Trustee (India) Pvt. Ltd. as the Trustee Company. The AMC, ABN AMRO Asset Management (India) Ltd. was incorporated on November 4, 2003.
AIG
AIG Investments was formed in 1996 by consolidating the investment divisions of various AIG subsidiaries worldwide. In its short history, it has grown both organically and by acquisition. AIG Investments offers the widest range of investment capabilities divided into five major groups – Equity, Fixed Income, Private Equity, Hedge funds, Real Estate* and other Alternate asset classes.
Bank of Baroda
Bank of Baroda Mutual Fund or BOB Mutual Fund was setup on October 30, 1992 under the sponsorship of Bank of Baroda. BOB Asset Management Company Limited is the AMC of BOB Mutual Fund and was incorporated on November 5, 1992.
Birla Sun Life
Birla Sun Life Mutual Fund is the joint venture of Aditya Birla Group and Sun Life Financial. Sun Life Financial is a global organization evolved in 1871 and is being represented in Canada, the US, the Philippines, Japan, Indonesia and Bermuda apart from India. Birla Sun Life Mutual Fund follows a conservative long-term approach to investment.
Canara Bank Mutual Fund
Canbank Investment Management Services Ltd. (the AMC) was established as a wholly owned subsidiary of Canara Bank in 1993. Canara Bank entered into a joint venture agreement on 19th March, 2007, with Robeco Groep N.V. 120 Coolsingel, 3011 AG Rotterdam, The Netherlands for asset management business in India. Robeco is a 75-year old asset manager, with over Rs. 8, 09,000 crores ( EUR 146 billion) under management as of Dec 31, 2007.
Chola Mutual Fund
Chola Mutual Fund under the sponsorship of Cholamandalam Investment & Finance Company Ltd. was setup on January 3, 1997. Cholamandalam Trustee Co. Ltd. is the Trustee Company and AMC is Cholamandalam AMC Limited.
Ecorts Mutual Fund
Ecorts Mutual Fund is the premier Asset Management. It was registered with Securities and Exchange Board of India (SEBI) in 1996. Escorts Mutual Fund has been established as a trust in accordance with the provisions of the Indian Trusts Act, 1882 and the Deed of Trust dated 15th April,1996 has been registered under the Indian Registration Act,1908.
HSBC Mutual Fund
HSBC Mutual Fund was setup on May 27, 2002 with HSBC Securities and Capital Markets (India) Private Limited as the sponsor. Board of Trustees, HSBC Mutual Fund acts as the Trustee Company of HSBC Mutual Fund.
ICICI Prudential Mutual fund
Indian Mutual Fund industry as one of the largest asset management companies in the country with average assets under management of Rs. 77,995.29 Crore (as of Aug 31, 2009). The Company manages a comprehensive range of schemes to meet the varying investment needs of its investors spread across 230 cities in the country.
ING Vysya Mutual Fund
ING Vysya Mutual Fund was setup on February 11, 1999 with the same named Trustee Company. It is a joint venture of Vysya and ING. The AMC, ING Investment Management (India) Pvt. Ltd. was incorporated on April 6, 1998.
JM Financial Mutual fund
JM Financial Asset Management Private Limited, the Asset Management Company of JM Financial Mutual Fund is sponsored by JM Financial Limited. JM Financial Asset Management Private Limited started operations in December 1994 with a simultaneous launch of three funds-JM Liquid Fund
JP Morgan Mutual fund
JPMorgan Asset Management is one of the six largest active investment managers in the world on the basis of assets under management (Source: Pensions & Investments, December 2005). As of 30 June 2007, assets under management stand at US$1,108.6 billion - a reflection of the high regard in which we are held by investors across the world.
Kotak Mahindra Mutual Fund
Kotak Mahindra Asset Management Company Limited (KMAMC), a wholly owned subsidiary of KMBL, is the Asset Manager for Kotak Mahindra Mutual Fund (KMMF). KMAMC started operations in December 1998 and has over 10 Lac investors in various schemes. KMMF offers schemes catering to investors with varying risk - return profiles and was the first fund house in the country to launch a dedicated gilt scheme investing only in government securities.
LIC Mutual Fund
Life Insurance Corporation of India set up LIC Mutual Fund on 19th June 1989 and contributed Rs. 2 Crores towards the corpus of the Fund. LIC Mutual Fund was constituted as a Trust in accordance with the provisions of the Indian Trust Act, 1882
Religare Mutual Fund
Religare Asset Management is promoted by the Religare Group, one of the leading integrated financial services groups in India. The businesses of the Religare Group extend across three key verticals; the Retail, Institutional and Wealth spectrums, catering to a diverse and wide base of clients
Morgan Stanley
The India Magnum Fund, an offshore fund set up in 1989, marked the entry of Morgan Stanley in the Indian market. Morgan Stanley Growth Fund (MSGF) was the first scheme launched in India in 1994. Morgan Stanley Mutual Fund currently has assets under management Rs. 2293.62
Principal
Principal Mutual Fund (formerly known as IDBI-PRINCIPAL Mutual Fund) has been constituted as a Trust in accordance with the provisions of the Indian Trusts Act, 1882 .The Mutual Fund is registered with SEBI under Registration No. MF/019/94/0, dated December 13, 1994. The underlying objective of Principal Mutual Fund is to mobilize savings from the public, provide investment expertise to achieve optimal returns on their investments.
Quantum
The idea of setting this mutual fund was of Mr. Ajit Dayal in 1983. In December 2005, Quantum Asset Management Company Private Limited received the AMC licenses from SEBI
State bank of India Mutual Fund
SBI Mutual Fund is India’s largest bank sponsored mutual fund and has an enviable track record in judicious investments and consistent wealth creation. SBI Mutual Fund is a joint venture between the State Bank of India and Société Générale Asset Management, one of the world’s leading fund management companies that manages over US$ 500 Billion worldwide.
Sahara Mutual Fund
Sahara Mutual Fund was set up on July 18, 1996 with Sahara India Financial Corporation Ltd. as the sponsor. Sahara Asset Management Company Private Limited incorporated on August 31, 1995 works as the AMC of Sahara Mutual Fund. The paid-up capital of the AMC stands at Rs 25.8 crore.
Standard Chartered Mutual Fund
Standard Chartered Mutual Fund was set up on March 13, 2000 sponsored by Standard Chartered Bank. The Trustee is Standard Chartered Trustee Company Pvt. Ltd. Standard Chartered Asset Management Company Pvt. Ltd. is the AMC which was incorporated with SEBI on December 20,1999.
Tata Mutual Fund
Tata Mutual Fund manages around Rs. 20,489.00 crores (average AUM for the month) as on August 31, 2009 worth of assets across its varied offerings. Tata Mutual Fund offers an investment option for everyone, whether you are a businessman or salaried professional, a retired person or housewife, an aggressive investor or a conservative capital builder.
Taurus Mutual Funds
Taurus Mutual Fund was amongst the first few private sector Mutual Funds registered with SEBI. It was constituted as a Trust on August 20, 1993 in accordance with the provisions of the Indian Trusts Act, 1882. The Mutual Fund was registered with SEBI on Sept 21, 1993 under Mutual Fund Registration Code No. MF/002/93. HB Portfolio Limited is the present Sponsor of the Fund with Taurus Investment Trust Company Ltd as the Trustee.
UTI
UTI Asset Management Company Private Limited, established in Jan 14, 2003, manages the UTI Mutual Fund with the support of UTI Trustee Company Private Limited. The sponsorers of UTI Mutual Fund are Bank of Baroda (BOB), Punjab National Bank (PNB), State Bank of India (SBI), and Life Insurance Corporation of India (LIC).
Since February 3, 2004, UTIAMC is also a registered portfolio manager under the SEBI (Portfolio Managers) Regulations, 1993 for undertaking portfolio management services
Benchmark Fund
The Benchmark Mutual Fund is managed by the Benchmark Asset Management Company Private Limited. The main objective of the Benchmark Mutual Fund is to offer low cost innovative investment products with lucrative returns at a low risk profile.
Some of the Mutual Funds In India are discussed below:-
Reliance Mutual Funds
Reliance Mutual Fund (RMF) was established as trust under Indian Trusts Act, 1882. The sponsor of RMF is Reliance Capital Limited and Reliance Capital Trustee Co. Limited is the Trustee. It was registered on June 30, 1995 as Reliance Capital Mutual Fund which was changed on March 11, 2004. The money invested by investors in Reliance Mutual Fund is further invested in the equity market or fixed income securities of various sectors and companies to generate a regular income for the investor.
HDFC
HDFC Mutual Fund is governed by HDFC Asset Management Company Limited (AMC). The HDFC mutual fund was approved by SEBI in June 2000. Equity Funds, Balanced Funds, and Debt Funds are the mutual fund schemes offered by HDFC Mutual Fund.
Fidelity
Fidelity was established nearly 40 years ago. The company and its subsidiaries manage over $157.3 billion* for major institutions and millions of investors around the world.
Franklin Templeton mutual Fund
Franklin Templeton Investments is one of the largest financial services groups in the world based at San Mateo, California USA. The group has US$495.7 billion in assets under management globally (As on August 31, 2009). Franklin Templeton has offices in 33 locations across India and manages average AUM of Rs.28866 crores for over 25 lakh investors as of August 31, 2009.
ABN Amro
ABN AMRO Mutual Fund was setup on April 15, 2004 with ABN AMRO Trustee (India) Pvt. Ltd. as the Trustee Company. The AMC, ABN AMRO Asset Management (India) Ltd. was incorporated on November 4, 2003.
AIG
AIG Investments was formed in 1996 by consolidating the investment divisions of various AIG subsidiaries worldwide. In its short history, it has grown both organically and by acquisition. AIG Investments offers the widest range of investment capabilities divided into five major groups – Equity, Fixed Income, Private Equity, Hedge funds, Real Estate* and other Alternate asset classes.
Bank of Baroda
Bank of Baroda Mutual Fund or BOB Mutual Fund was setup on October 30, 1992 under the sponsorship of Bank of Baroda. BOB Asset Management Company Limited is the AMC of BOB Mutual Fund and was incorporated on November 5, 1992.
Birla Sun Life
Birla Sun Life Mutual Fund is the joint venture of Aditya Birla Group and Sun Life Financial. Sun Life Financial is a global organization evolved in 1871 and is being represented in Canada, the US, the Philippines, Japan, Indonesia and Bermuda apart from India. Birla Sun Life Mutual Fund follows a conservative long-term approach to investment.
Canara Bank Mutual Fund
Canbank Investment Management Services Ltd. (the AMC) was established as a wholly owned subsidiary of Canara Bank in 1993. Canara Bank entered into a joint venture agreement on 19th March, 2007, with Robeco Groep N.V. 120 Coolsingel, 3011 AG Rotterdam, The Netherlands for asset management business in India. Robeco is a 75-year old asset manager, with over Rs. 8, 09,000 crores ( EUR 146 billion) under management as of Dec 31, 2007.
Chola Mutual Fund
Chola Mutual Fund under the sponsorship of Cholamandalam Investment & Finance Company Ltd. was setup on January 3, 1997. Cholamandalam Trustee Co. Ltd. is the Trustee Company and AMC is Cholamandalam AMC Limited.
Ecorts Mutual Fund
Ecorts Mutual Fund is the premier Asset Management. It was registered with Securities and Exchange Board of India (SEBI) in 1996. Escorts Mutual Fund has been established as a trust in accordance with the provisions of the Indian Trusts Act, 1882 and the Deed of Trust dated 15th April,1996 has been registered under the Indian Registration Act,1908.
HSBC Mutual Fund
HSBC Mutual Fund was setup on May 27, 2002 with HSBC Securities and Capital Markets (India) Private Limited as the sponsor. Board of Trustees, HSBC Mutual Fund acts as the Trustee Company of HSBC Mutual Fund.
ICICI Prudential Mutual fund
Indian Mutual Fund industry as one of the largest asset management companies in the country with average assets under management of Rs. 77,995.29 Crore (as of Aug 31, 2009). The Company manages a comprehensive range of schemes to meet the varying investment needs of its investors spread across 230 cities in the country.
ING Vysya Mutual Fund
ING Vysya Mutual Fund was setup on February 11, 1999 with the same named Trustee Company. It is a joint venture of Vysya and ING. The AMC, ING Investment Management (India) Pvt. Ltd. was incorporated on April 6, 1998.
JM Financial Mutual fund
JM Financial Asset Management Private Limited, the Asset Management Company of JM Financial Mutual Fund is sponsored by JM Financial Limited. JM Financial Asset Management Private Limited started operations in December 1994 with a simultaneous launch of three funds-JM Liquid Fund
JP Morgan Mutual fund
JPMorgan Asset Management is one of the six largest active investment managers in the world on the basis of assets under management (Source: Pensions & Investments, December 2005). As of 30 June 2007, assets under management stand at US$1,108.6 billion - a reflection of the high regard in which we are held by investors across the world.
Kotak Mahindra Mutual Fund
Kotak Mahindra Asset Management Company Limited (KMAMC), a wholly owned subsidiary of KMBL, is the Asset Manager for Kotak Mahindra Mutual Fund (KMMF). KMAMC started operations in December 1998 and has over 10 Lac investors in various schemes. KMMF offers schemes catering to investors with varying risk - return profiles and was the first fund house in the country to launch a dedicated gilt scheme investing only in government securities.
LIC Mutual Fund
Life Insurance Corporation of India set up LIC Mutual Fund on 19th June 1989 and contributed Rs. 2 Crores towards the corpus of the Fund. LIC Mutual Fund was constituted as a Trust in accordance with the provisions of the Indian Trust Act, 1882
Religare Mutual Fund
Religare Asset Management is promoted by the Religare Group, one of the leading integrated financial services groups in India. The businesses of the Religare Group extend across three key verticals; the Retail, Institutional and Wealth spectrums, catering to a diverse and wide base of clients
Morgan Stanley
The India Magnum Fund, an offshore fund set up in 1989, marked the entry of Morgan Stanley in the Indian market. Morgan Stanley Growth Fund (MSGF) was the first scheme launched in India in 1994. Morgan Stanley Mutual Fund currently has assets under management Rs. 2293.62
Principal
Principal Mutual Fund (formerly known as IDBI-PRINCIPAL Mutual Fund) has been constituted as a Trust in accordance with the provisions of the Indian Trusts Act, 1882 .The Mutual Fund is registered with SEBI under Registration No. MF/019/94/0, dated December 13, 1994. The underlying objective of Principal Mutual Fund is to mobilize savings from the public, provide investment expertise to achieve optimal returns on their investments.
Quantum
The idea of setting this mutual fund was of Mr. Ajit Dayal in 1983. In December 2005, Quantum Asset Management Company Private Limited received the AMC licenses from SEBI
State bank of India Mutual Fund
SBI Mutual Fund is India’s largest bank sponsored mutual fund and has an enviable track record in judicious investments and consistent wealth creation. SBI Mutual Fund is a joint venture between the State Bank of India and Société Générale Asset Management, one of the world’s leading fund management companies that manages over US$ 500 Billion worldwide.
Sahara Mutual Fund
Sahara Mutual Fund was set up on July 18, 1996 with Sahara India Financial Corporation Ltd. as the sponsor. Sahara Asset Management Company Private Limited incorporated on August 31, 1995 works as the AMC of Sahara Mutual Fund. The paid-up capital of the AMC stands at Rs 25.8 crore.
Standard Chartered Mutual Fund
Standard Chartered Mutual Fund was set up on March 13, 2000 sponsored by Standard Chartered Bank. The Trustee is Standard Chartered Trustee Company Pvt. Ltd. Standard Chartered Asset Management Company Pvt. Ltd. is the AMC which was incorporated with SEBI on December 20,1999.
Tata Mutual Fund
Tata Mutual Fund manages around Rs. 20,489.00 crores (average AUM for the month) as on August 31, 2009 worth of assets across its varied offerings. Tata Mutual Fund offers an investment option for everyone, whether you are a businessman or salaried professional, a retired person or housewife, an aggressive investor or a conservative capital builder.
Taurus Mutual Funds
Taurus Mutual Fund was amongst the first few private sector Mutual Funds registered with SEBI. It was constituted as a Trust on August 20, 1993 in accordance with the provisions of the Indian Trusts Act, 1882. The Mutual Fund was registered with SEBI on Sept 21, 1993 under Mutual Fund Registration Code No. MF/002/93. HB Portfolio Limited is the present Sponsor of the Fund with Taurus Investment Trust Company Ltd as the Trustee.
UTI
UTI Asset Management Company Private Limited, established in Jan 14, 2003, manages the UTI Mutual Fund with the support of UTI Trustee Company Private Limited. The sponsorers of UTI Mutual Fund are Bank of Baroda (BOB), Punjab National Bank (PNB), State Bank of India (SBI), and Life Insurance Corporation of India (LIC).
Since February 3, 2004, UTIAMC is also a registered portfolio manager under the SEBI (Portfolio Managers) Regulations, 1993 for undertaking portfolio management services
Benchmark Fund
The Benchmark Mutual Fund is managed by the Benchmark Asset Management Company Private Limited. The main objective of the Benchmark Mutual Fund is to offer low cost innovative investment products with lucrative returns at a low risk profile.