The Indian financial landscape has undergone a paradigm shift from traditional savings options like fixed deposits and gold toward mutual fund companies in India. These funds have become a preferred avenue for wealth creation among millions of investors, reflecting a broader move from conservative saving habits to active market participation.
Regulated by the Securities and Exchange Board of India (SEBI), the mutual fund firms in India play a crucial role in channeling retail savings into productive investments across equity, debt, and hybrid markets. A mutual fund essentially pools money from multiple investors and invests it in diversified assets such as stocks, bonds, and money market instruments. This collective investment model, managed by professional fund managers under an Asset Management Company (AMC), helps investors achieve financial goals with reduced risk and increased transparency.
The growth of the Indian mutual fund industry has been driven by digital accessibility, improved financial literacy, and the popularity of Systematic Investment Plans (SIPs), especially among young investors. Today, mutual funds represent one of the fastest-growing sectors of India’s financial ecosystem, symbolizing both economic confidence and the rising culture of disciplined, long-term investing.
Market Momentum and Scale: Key Data Points
The industry of Indian Mutual funds is historic in terms of its size and expansion: Industry AUM Crossing Rs 75 Lakh Crore:
- Industry Asset Under Management (AUM) of the Indian Mutual Fund industry will hit a record of more than Rs. 75 lakh crore ( approximately $900 billion USD) as of September 2025. This shows a tremendous growth in investor loyalty and interest.
- The retail investor commitment is high, which shows monthly investments in the form of SIPs (Systematic Investment Plans) passing Rs. 29,000 crore (circa. $3.5 billion USD) every month in September 2025. This science emphasizes the most desirable way to ascend wealth.
Asset Management Companies (AMCs) The following giants and big innovators are driving this remarkable growth, with their rank being largely defined by their AUM as of late 2024/early 2025.
List of Top Mutual Fund Companies in India
1. SBI Fund Management Ltd. (SBI Mutual fund)
- Website: https://www.sbimf.com/
- AUM (Approx.).: Rs.11.13 Lakh Crore (Highest).
SBI Funds Management Ltd. is the biggest Asset Management Company in India by Assets Under Management, a joint venture between the State bank of India, the largest public sector bank in India, and Amundi, a leading European asset manager. The AMC enjoys the advantage of the wide distribution system of SBI who reach deep into rural and urban locations of the nation.
SBI Mutual Fund has a diverse and broad variety of schemes in the equity, debt and balanced varieties and has traditionally been reputed to have a consistent performance across flagship funds such as the SBI Contra Fund. It is most competitive due to the unrivaled trust and reach of the SBI brand, which millions of retail investors will prefer.
Key Features: The industry largest AUM, Wide national distribution network (SBI branches), Joint venture with global fund manager Amundi, all asset classes in its product portfolio.
Pros: Strong brand loyalty and stability; strong in semi-urban and rural markets; sizable research department; good historical track record of some of its funds.
Cons: Performance of the fund in some categories may not be in leading position as compared to the competitors in the private sector; size alone may at times hinder speed in making investment decisions.
2. Prudential Asset Management Company Ltd
- Website: https://www.icicipruamc.com/
- Current AUM (Approx.): Rs.8.73 Lakh Crore (Second Best)
ICICI Prudential AMC is one of the leading mutual fund companies in India, known for its profitability and experience in the country. It is a joint venture between ICICI Bank (the largest private sector bank in India) and Prudential Plc (a major financial service group operating in most countries across the world). With a strong reputation for maintaining a balanced mix of innovation and process-driven investment management, ICICI Pru leverages the vast network of its parent bank.
The company offers specialized products such as index funds, international funds, and flagship schemes like the ICICI Prudential Multi-Asset Fund. It focuses on risk-adjusted returns and customized financial solutions, reinforcing its position as a traditionally high-performing private AMC.
Key Features: Good parenting (ICICI Bank & Prudential Plc), solid and process based investment strategies, extensive debt and equity and mixed investment solutions and concentrated on goal based investment products.
Pros: Good performance in a number of equity and hybrid funds; good online presence and consumer relations; high fund manager experience.
Cons: The cost ratios are sometimes stronger in some direct plans; the concentrated exposure on the debt portfolio in the past has been invested.
3. HDFC Asset Management Company Ltd.
- Website: https://www.hdfcfund.com/
- AUM (Approx.): Rs.7.87 Lakh Crore
HDFC Mutual Fund is a formidable player in the industry, benefiting from the reputation of its parent company, HDFC Bank, as a stable and trustworthy institution. The AMC is characterized by its conservative yet steady approach to fund management, focusing on large-cap and quality equity investments. HDFC MF holds a strong market share in traditional segments such as tax-saving funds (ELSS) and equity-based savings schemes.
The company also caters to both Direct and Regular mutual funds, ensuring flexibility for investors who prefer either self-managed investments or distributor-assisted options. HDFC is recognized for its experienced, long-term fund managers who emphasize capital preservation while also adapting to passive investment trends through a wide range of index funds and ETFs. It continues to stand as a pillar of trust for investors seeking long-term stability and sound governance practices.
Key Features: HDFC Bank (high trust factor), Long-term funds managers, High exposure to large cap and tax-saving funds, Stable and long-term returns, Large array of passive (Index) funds.
Pros: Unrivalled brand loyalty in the financial services industry; solid fund performance in stable categories; quality of governance.
Cons: Recent performance in some of its flagship active funds has been underperformance of overall market indices; seen as more conservative than younger, aggressive AMCs.
4. Kotak Mahindra Asset Management Company Ltd.
- Website: https://www.kotakmf.com/
- AUM (Approx.): Rs.4.88 Lakh Crore
Kotak Mahindra AMC is one of the reputed mutual fund companies in India, belonging to the Kotak Mahindra Group. It is known for its disciplined and value-based investment philosophy across equity and debt securities. The fund house has earned a strong reputation for sound research and effective risk management, particularly in handling fixed-income and debt funds.
Kotak MF offers specialized investment solutions designed to perform across various market cycles, with its multi-cap and mid-cap funds recognized for delivering excellent risk-adjusted returns. The company focuses on meaningful investor engagement and equipping clients with tools to plan and execute their investment strategies effectively.
Key Features: Value-driven investment strategy, firm cultivation of expertise in Debt/Fixed Income funds, open communication with the investors, attention to risk-adjusted returns in categories.
Pros: Excellent returns in mid-cap and small-cap funds; stringent risk management structure; strong understanding of the fixed-income market.
Cons: Sometimes, equity performance is tied to the presence of certain market cycles; this is because the digital interface is not necessarily as dominating as newer platforms.
5. Nippon Life India Asset Management Ltd.
- Website: https://invest.nipponindiaim.com/
- AUM (Approx.): Rs 5.69 Lakh Crore (Best AUM of non-banking AMCs)
Nippon India mutual fund (previously known as Reliance mutual fund) is a major competitor that is currently a subsidiary of the giant Nippon Life Group of Japan. It can boast of the distinction of having the largest AUM of non-bank promoted AMCs. Nippon India is very innovative and its product basket is the most diversified and includes specialized small-cap funds, index funds, and ETFs.
It can be described as a company that embraces technology at an early and high rate in serving investors and concentrates on offering funds that target emerging areas of growth. It has performance of its flagship schemes including the Nippon India Small Cap Fund which have achieved outstanding performance over the long term hence gaining popularity among high-risk/high-reward investors.
Key Features: Largest promoted non-banking AMC, Specialized and diversified product sponsorship (Minipal, Sectoral), Intense use of technology to the encouragement of customers, Sponsored by Nippon Life Insurance, Japan.
Pros: Outstanding performance over long term in the niche and small-cap sectors; high product diversification; huge research and fund management group.
Cons: Changing the brand identity as a result of the change of ownership; not all funds are easy to invest in by an inexperienced investor.
6. Aditya Birla Sun Life Asset Management Company Ltd.
- Website: https://mutualfund.adityabirlacapital.com/
- AUM (Approx.): Rs.3.83 Lakh Crore
Aditya Birla Sun Life AMC is a venture between Indian conglomerate Aditya Birla Group and Sun Life financial Inc. of Canada. The company presents an optimal balance of products which has a more tactical orientation of providing steady returns on the long-term by diversification of companies and market capitalization.
ABSL has been active in the retirement planning solutions segment, having many tax-saving (ELSS) and retirement-oriented plans. It also focuses on customer-centricity, and has extensive financial planning capabilities which make it a favorite among salary earners and those with long-term life objectives to achieve, using the strength of its parent brands.
Key Features: Intensive customer-centricity and financial planning tools, Pre-eminence in retirement investment and ELSS (tax saving) funds, JV of Indian scam and an overseas financial powerhouse, Moderate investment philosophy.
Pros: Goes on record regarding hybrid and tax saving funds protection; institutions backing; extensive financial planning information.
Cons: Large-cap funds have performed averagely better than index performance standards; too much competition in its core markets.
Suggested Read: Difference Between SIP and Mutual Fund
7. UTI Asset Management Company Ltd.
- Website: https://www.utimf.com/
- AUM (Approx.): Rs.3.52 Lakh Crore
UTI AMC is one of the oldest and most trusted mutual fund companies in India, succeeding the first-ever mutual fund in the country — the Unit Trust of India (UTI), founded in 1963. In the modern era, UTI operates under SEBI regulations and is known for its strong focus on passive investing, offering one of the largest and most diverse collections of Index Funds and ETFs.
It manages several major funds linked to government and public sector entities while maintaining a stellar reputation for governance and transparency. UTI’s institutional and retail investors often prefer its low-cost, passively managed funds—such as Nifty 50 Index Funds—which aim to track market performance rather than outperform it.
Key Features: Oldest history in the Indian mutual fund business, Leading portfolio of Index Funds and Exchange Traded Funds, High governance practices and openness and transparency, Good institutional clientele.
Pros: The ratios of the cost are low in the passive funds; there is a high percentage of trust in the public showing the history of the fund; a wide selection of the passive funds.
Cons: Not as well known as aggressive, outperforming active equity fund; not as fast in expansion of active AUM as digitally aggressive AMCs.
8. Axis Asset Management Company Ltd.
- Website: https://www.axisamc.com
- AUM (Approx.): Rs.3.26 Lakh Crore
Axis AMC is a comparatively new company in the market relative to its large competitors, and yet has achieved a fast market share due to its no-nonsense investment philosophy and process-based method. Axis Mutual Fund is especially famous in the categories of Small Cap and Mid Cap funds where some funds are becoming benchmarks in the industry concerning consistency and high performance in the long term.
The AMC puts a high value on quality research and concentration on high-quality growth stocks. As the fund house has encountered internal compliance issues in recent times, the company has acted quickly, openly and in a corrective manner and this has enabled the company to retain investor confidence and its core funds are performing well.
Key Features: Process based investment strategy, Fast market share growth, good performance in Small Caps and Mid Cap segmentation, focus on quality growth stocks.
Pros: The company has a long-term history of strong performance in smaller market cap funds; its investment team is incredibly process-driven; and the company has an excellent digital presence via its bank network.
Cons: Internal compliance issues were mentioned recently and were discussed; a small variety of non-equity offerings when compared to the banking-supported giants.
9. Mirae Asset Investment Managers (India) Pvt. Ltd.
- Website: https://www.miraeassetmf.co.in/
- AUM (Approx.): Rs.1.94 Lakh Crore
Mirae Asset is the most successful AMC of foreign origin (South Korea) to gain a lot of success in the Indian retail market. The company is characterized by the international research orientation and focused investment approach which generally prefers high-quality growth opportunities at sensible prices.
Mirae Asset has acquired massive popularity into its large-cap and flexi-cap funds, which always rank among the best-performing funds. AMC entertains young and urban and digitally fluent investors who admire its design, open lines of communication and concentration on capital appreciation by utilizing global knowledge on technology or developing areas.
Key Features: Highly globalized research outlook (South Korean parentage), Flexi Cap and Large Cap funds are massively popular, Have a preference towards quality growth business at a small cost, Ability to coherently utilize e-business and appeal to youth.
Pros: There has been a consistent good performance in the core equity categories; exclusive global research basis; preferred among the DIY (Do-It-Yourself) investors.
Cons: Smaller cumulative AUM compared to banking giants; lower infiltration into conventional distribution channels.
10. DSP Investment Managers Private Ltd.
- Website: https://www.dspim.com/
- AUM (Approx.): Rs.1.92 Lakh Crore
DSP Investment Managers is one of the most respected mutual fund companies in India, with a legacy of over 25 years in the asset management industry. Its success is built on extensive research and a disciplined investment philosophy. The company is renowned for its intellectual depth and comprehensive market analysis, offering a wide range of equity, debt, and hybrid funds.
DSP stands out for its thematic equity funds and specialization in fixed-income products. The fund house primarily appeals to high-end investors who value fund manager expertise and research-driven decisions rather than short-term market trends. DSP remains one of the few AMCs deeply committed to its core values of transparency, integrity, and intellectual honesty in fund management.
Key Features: The length of tenure (more than 25 years) and intellectualism in research, a complete portfolio of equity, hybrid, and customized debt investment, emphasis on fund manager conviction and background research, open and educative communication style.
Pros: Well-established research-based conviction; solid performance in specialized debt segments; long time trust factor.
Cons: Conservative position can cause poor performance in bull markets that hit hard; not as evident as in the case of banks in the mass retail sector.
Mutual Fund Companies In India Comparison Table (AUM and Features)
| Rank | AMC Name | Website | AUM (Approx.) (₹ Lakh Crore) | Primary Ownership | Core Strength/Focus | Longest-Tenure Funds | Digital/Distribution Edge |
| 1. | SBI Funds Management | [Official Site Link] | 11.13 | Public Sector Bank/Foreign | Reach & Trust (Mass Market) | Yes | Deepest banking network penetration |
| 2. | ICICI Prudential AMC | [Official Site Link] | 8.73 | Private Bank/Foreign | Process & Goal-Oriented Funds | Yes | Strong digital presence, large customer base |
| 3. | HDFC AMC | [Official Site Link] | 7.87 | Private Bank/Foreign | Stability & Large-Cap Quality | Yes | Reliable bank branch distribution |
| 4. | Kotak Mahindra AMC | [Official Site Link] | 4.88 | Private Bank/Indian | Debt/Fixed Income Expertise & Value | Yes | Disciplined investment approach |
| 5. | Nippon Life India AM | [Official Site Link] | 5.69 | Foreign (Japanese) | Niche/Small-Cap & Technology | Yes | Strong tech adoption; largest non-bank AMC |
| 6. | Aditya Birla Sun Life AMC | [Official Site Link] | 3.83 | Conglomerate/Foreign | Retirement & Hybrid Solutions | Yes | Diversified distribution channels |
| 7. | UTI AMC | https://www.utimf.com/ | 3.52 | Public Sector (Historical) | Passive & Index Fund Dominance | Yes | Historical legacy and institutional trust |
| 8. | Axis AMC | [Official Site Link] | 3.26 | Private Bank/Indian | Mid-Cap & Small-Cap Growth | No | Rapid growth through strong retail process |
| 9. | Mirae Asset IM | [Official Site Link] | 1.94 | Foreign (South Korean) | Global Growth & Flexi-Cap | Yes | High appeal to urban, digitally savvy investors |
| 10. | DSP IM | https://www.dspim.com/ | 1.92 | Indian/Foreign | Research & Research-Backed Conviction | Yes | Strong research pedigree and specialized products |
Conclusion
A disciplined, retail investment culture, mostly spending spurred by the proliferation of SIPs, has helped mutual fund firms in India grow tremendously. The Indian mutual fund industry, now standing at over Rs.75 lakh crore AUM, is a true demonstration of the strength of disciplined retail investment. The above giants, headed by SBI Mutual Fund and ICICI Prudential, continue to dominate the space through brand loyalty and an extensive banking network.
For investors, the key takeaway is that the optimal AMC depends on their financial goals. HDFC and UTI perform well in risk-averse and index-oriented segments; Axis and Nippon cater to more aggressive markets; and Mirae Asset focuses on futuristic global opportunities. Moreover, mutual fund companies in India are increasingly supported by digital platforms such as Groww and Zerodha, making investing more accessible, transparent, and cost-effective for the new generation.
FAQs
How Much Is Necessary To Make The Initial Investment In Mutual Funds?
Most equity and hybrid schemes at major AMCs have a minimum amount of Rs.100 to Rs.500 per month to have a Systematic Investment Plan (SIP) initiated. In the case of a lump-sum investment, it would be a minimum of Rs.5,000.
What Is The Distinction Between Direct Plan And A Regular Plan?
Direct Plan: Direct investments made either via the AMC (or another type of digital) (such as Zerodha, Groww). They are less expensive, in that they do not make distributor commissions.
Regular Plan: Plans in which you make investments with a broker or agent. They are stronger in Expense Ratio because the commission is inherent in the cost structure of the fund.
What Is AUM And Why Is It The Key Measure Of AMCs Ranking?
AUM is an abbreviation of Assets Under Management. It is the sum total of the market values of all investments that the AMC manages in all of its schemes. It is the most important measure since it measures the size, scale and popular belief in the fund house. When it is larger in size, it usually signifies that it is more stable in operations and has more influence in the market.
What Is The Expense Ratio, And Is One With A Lower ER Better?
Expense Ratio is an annual charge paid to the AMC to administer the fund on a percentage of AUM of the fund. Yes, as a general rule, you want to pick a fund with less expense ratio, especially with Direct Plans, because such an expense is subtracted out of your returns, and even smaller variations do accumulate over time.
Are Mutual Funds Safe? Who Regulates The Industry?
The fact that the mutual funds are subject to market risks implies that the worth of your investment may decrease. The industry, however, is well regulated by the Securities and Exchange Board of India (SEBI), which guarantees high levels of transparency, protection of the investor, and corporate governance to all the AMCs.