Top 10 Mutual Fund Companies in India [2024 Updated List]

Many Indians choose to invest in mutual funds as they aim for wealth growth. The Indian mutual fund industry has seen significant expansion, Evidenced by India’s mutual fund Average Assets Under Management reaching ₹67.09 trillion in September 2024, providing diverse options catering to different financial goals and risk preferences. Given the abundance of companies and schemes available today, it’s a challenge to select where to begin your investment journey. This guide will walk you through the top 10 mutual fund companies in India while providing an overview of their unique features that make them stand out in this competitive market.

Top 10 Mutual Fund Companies in India 2024

1. SBI Mutual Fund

SBI Mutual Fund is an established player trusted across India when it comes to investing money smartly, Backed by the giant State Bank of India one of the country’s largest banks together with Amundi leading French asset management company -it promises a strong and trustworthy base for investors. There are plenty of options you can go ahead such as equity funds if aiming for long long-term growth. Debt ones in case want stability over risky territory, a hybrid which is a mix of both or tailor-made solutions that target your needs specifically with a network spread all across India via 100+ branches and extensive chain distributors. SBI Mutual Fund has stood out consistently with good results no matter the fund’s category you are looking at. Their disciplined investment methodology, managed well by an expert team ensures high returns for investors over the long run without any ambiguity or hidden catch. The transparency with clients combined makes them a reliable choice for those who seek a worthy return on their hard-earned money.

SBI Mutual Fund started the SBI Nifty India Consumption Index Fund on October 16, 2024. It focuses on India’s domestic consumption sector. Subscriptions can be made until October 25, 2024, and this provides investors with a chance to invest in rapidly growing consumer-oriented companies.

2. ICICI Prudential Mutual Fund

ICICI Prudential Mutual Fund is one of the top 10 mutual fund companies in India with strong backing from ICICI Bank – a prominent private sector bank in our country. Their wide range of investment options including equity, debt, hybrid as well themed funds cater to investors across all spectrums ensuring they find the right fit for their needs.

Their unique strength lies atop innovation and technology; offering easy-to-use online platforms making it convenient to manage your investments while also keeping tabs on fund performance in real time! Additionally, an investment strategy that is research-driven by experienced portfolio managers has been a key contributing factor towards delivering substantial returns for investors over the years.

On September 30, 2024, ICICI Prudential Mutual Fund presented the Nifty200 Value 30 ETF and Index Fund. This fund is designed for value-driven investors seeking low-cost entry into Nifty 200 stocks—the subscription period finished on October 14, of the same year.

3. HDFC Mutual Fund

When it comes to mutual funds in India, HDFC is one of the top 10 mutual fund companies in India for being trustworthy and reliable. They prioritize customer satisfaction by providing numerous investment options such as equity, debt, hybrid, index, retirement, and children’s savings plans. Their focus on long-term wealth creation can be seen through their investor-centric approach which helps people reach financial goals with the right tools and guidance. HDFC Mutual Fund has a wide distribution network available online or offline that makes it convenient for investors all over India to access funds easily, thanks to experienced fund managers who consistently deliver excellent results making them a top choice for many investors.

HDFC Mutual Fund disclosed that its assets under management attained ₹6.1 lakh crore in the November of 2024 year. This fund is recognized for steady profits, and its Focused 30 Fund displayed an impressive one-year return rate of 44.8%, despite changes in market conditions.

4. Aditya Birla Sun Life Mutual Fund

Aditya Birla Sun Life Mutual Fund combines the efforts of Aditya Birla Group and Sun Life Financial Inc., earning respect as an industry leader in India’s mutual fund sector. Focusing on thorough investigation methods, this reputable firm provides a multitude of investment choices across equity, debt, or hybrid funds to clients worldwide. Setting itself apart by prioritizing customers first – giving them cutting-edge technology and innovative platforms for their financial journey. The organization demonstrates its dedication to investors through long-term value creation using a strong research-driven approach.

In September 2024, a new type of mutual fund was brought out by Aditya Birla Sun Life. It is centered around technology and healthcare areas. They are dedicated to ESG integration with the goal of taking advantage of sectors that have high demand and can be sustained for the long term.

5. Kotak Mahindra Mutual Fund

Among reliable mutual fund companies in India is Kotak Mahindra Mutual Fund which stands as the top 10 mutual fund companies in India due to being backed by Kotak Mahindra Bank’s strength and stability, focusing on delivering top-notch investment performance. They offer a variety of carefully crafted equity, debt, and hybrid funds as well as solution-orientated options catering to different investors’ needs. What sets them apart is their customer focus approach with an emphasis on transparency and trust building. Their widespread network through branches and distributors makes it possible to access its funds nationwide, showcasing consistency across fund categories that underpins strong return generation commitment towards the investor’s wealth growth journey.

Kotak Mahindra Mutual Fund is planning new schemes that target mid-cap and small-cap stocks, which will be ready by November 2024. These funds have the possibility for growth, so they attract investors who want to expose themselves to emerging small and medium-sized businesses.

6. Nippon India Mutual Fund

Nippon India Mutual Fund used to be called Reliance Nippon Life Asset Management but now is a top mutual fund company in India with many fund choices like specialty options that can fit different savings goals. They have been around for a long time and are successful because they pay attention to new things, staying up-to-date on market trends so investors get the most value over longer periods. Nippon India Mutual Fund also is known to be tech savvy with an easy platform that lets customers check their investments anytime while making progress in their savings or wealth-building journey easier than ever before.

The recent NFO from Nippon India Mutual Fund has caught the attention of retail investors by focusing on budding markets. The expansion of its thematic fund now aims at renewable energy and technology, widening possibilities for sustainable investment that is focused on specific sectors.

7. Axis Mutual Fund

Axis Mutual Fund is quickly growing in popularity thanks to Axis Bank’s support. They prioritize their customers above all else by offering tailored investment choices like equity, debt, hybrid, and goal-specific options. This mutual fund company strives for transparency while following a disciplined research process that guarantees success for its investors. Thanks to an extensive network of branches and distributors nationwide, Axis Mutual Fund’s funds are easily accessible to everyone in India.

Axis Mutual Fund is planning to introduce ESG-focused funds for investors who are socially responsible. Their educational programs for investors throughout the country increase knowledge about mutual fund advantages in accordance with international trends of sustainable investing.

8. UTI Mutual Fund

UTI Mutual Fund is an established player within the ranks of the top 10 mutual fund companies in India,  with numerous years of history behind it. The fund company provides a broad selection of investment opportunities, including equity, debt, hybrid, and specialty options designed to suit various investor needs. UTI has shown robust performance through different market phases while maintaining its reputation as a reliable choice for many investors. One key advantage that sets apart the UTI Mutual Fund is its research-heavy approach to investing. Employing a disciplined investment strategy, they meticulously analyze current trends and underlying fundamentals to make data-driven decisions that have consistently rewarded long-term returns.

UTI Mutual Fund is planning to start equity schemes for infrastructure and healthcare sectors in November 2024. Up until September, many leading schemes have gone beyond benchmarks, showing strength despite changes in the market.

9. IDFC Mutual Fund

IDFC mutual funds are renowned in India’s financial market due to their concentration on equity and bond assets investment approach. They consistently aim towards generating long-term profitability for the shareholders by providing a wide range of handpicked investments, after thorough research work. The consistent performance showcased by IDFC Mutual Fund is attributed primarily to their disciplined strategy in investing led by expert fund managers. One distinctive feature that makes this mutual fund house appealing among others lies within its specific focus on equity and bond assets alone; which consequently allows them a more profound comprehension of these market dynamics, enabling well-informed choices ultimately leading towards consistent returns for the investors over time.

10. DSP Mutual Fund

Our list is completed by DSP Mutual Fund – formerly known as DSP BlackRock Mutual Fund which boasts an impressive history within India’s mutual fund industry, standing out especially when dealing with equity investments. With a selection of well-crafted funds for different investor demands and risk tolerances, the company excels due to its experienced managers who offer invaluable knowledge and skills gained through their work at DSP Mutual Fund. This organization’s research-driven approach alongside its disciplined investment strategy has resulted not only in strong returns but also increased trust among investors; these characteristics bring this into the ranks of the top 10 mutual fund companies in India. Specifically catering to those looking primarily towards stock market investments, this fund house is a unique option worth considering due to its equity focus.

Conclusion

Putting money into mutual funds can help you boost your riches and reach important monetary goals in life. When choosing which company’s mutual funds, think about what you want from investing (goals), how risky you are willing to be, and the track record of that fund family – including features they provide for their investors. Don’t forget to diversify your investments across different types of Mutual Funds so as not to have all eggs in one basket. Also speaking with a financial advisor would help make sure what’s being invested matches up well with an overarching personal finance plan.