In recent months several advertisements in print media, radio and TV are exhorting citizens to invest in Mutual Funds.
These ads talk about benefits of investing in Mutual Funds (MFs) such as small amount of money- as low as Rs.500- as well as high returns and the possibility of cashing them anytime, should the need arise.
There are several reasons why investment houses are calling on people to invest in Mutual Fund.
Firstly they offer somewhat secure returns as compared to regular stock markets.
Secondly, India has the highest percentage of savings in the world- an average 30 percent income per household.
Thirdly, best Mutual Funds companies spur stock exchanges and provide much-needed finance to large companies.
Also, Mutual Fund Companies allow people to participate in the stock exchange but without its inherent risks and high investments.
Current Scenario of Mutual Funds in India
Nowadays, almost every bank now sends emails, flyers and other promotional material to customers, informing them about attractive investment options in Mutual Funds.
Mutual Funds are not a new phenomenon to India. Earlier, they were considered as an investment option for the wealthy.
With several companies and banks now offering Mutual Funds, this option has become affordable to lower income group too.
Consequently, there are several Indian companies that offer the best mutual funds. We take a look at the 20 best Mutual Funds companies in India.
Top 20 Mutual Funds Companies in India in 2023:
Before we explore these companies, it is important to remember that investing in Mutual fund companies is not completely free of risks.
Hence, you will need advice from your banker or financial advisor on which Mutual Fund to subscribe.
The list we provide is generated randomly and does not indicate the popularity of any Mutual Fund or its company. Nor is this listing based on profits you can earn.
The list is purely for educational purposes. Inclusion or omission from this list is not an indication of any financial standing of a company or its reputation. We reiterate this list is only indicative.
1) Canara Robeco Mutual Fund
Canara Robeco Mutual Fund is offered by Canara Bank.
It is a joint venture between the bank and Robeco, a global asset management company based in the Netherlands. Canara Robeco Mutual Fund is the second oldest in India.
2) Aditya Birla Sun Life
Established in 1994, Aditya Birla Sun Life Mutual fund is co-managed by Aditya Birla Capital Ltd and Sun Life (India) AMC Investments, Inc. There are various Mutual fund available through this company.
3) Motilal Oswal Asset Management Co
Motilal Oswal Asset Management Co is a Mumbai-based company established on November 14, 2008.
It is registered with Securities and Exchange Board of India as Portfolio Manager. It is another best Mutual Funds to invest.
4) Franklin Templeton Investments
Franklin Templeton is an American company that operates in 28 countries including India. It entered the Indian Mutual Fund market in September 1996.
5) HDFC Mutual Fund
Launched by HDFC Asset Management Co, this Mutual Fund provider is also based in Mumbai.
It is registered with SEBI and comes from the house of India’s premier private lender, HDFC Bank.
6) SBI Mutual Fund
As the name suggests, SBI Mutual Fund is a division of India’s largest Public Sector Undertaking (PSU) lender, State Bank of India.
SBI MF also offers a host of best Mutual fund products for small and large investors.
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7) ICICI Prudential Mutual Fund
ICICI Asset Management Co, a division of ICICI Bank offers a variety of best Mutual funds to invest under the brand in collaboration with the UK’s finance major, Prudential.
There are several categories of Mutual fund available from this company.
8) Tata Mutual Fund
Tata Mutual Fund is launched by India’s most respected business house, Tata Group.
The company states it offers investment options in MFs for all segments of the society- from salaried class to retirees.
9) UTI Mutual Fund
UTI, also known as Unit Trust of India has the distinction of launching India’s first Mutual Fund.
This investment is offered by UTI Asset Management Co. The first MF launched by UTI was almost 50 years ago.
10) Reliance Mutual Fund
Reliance Mutual Fund is operated by India’s corporate giant, Reliance Group in collaboration with Nippon Asset Management Co of Japan.
You can invest in various best Mutual fund schemes offered by Reliance-Nippon.
11) Edelweiss Mutual Fund
Edelweiss Broking Co Ltd, a Mumbai-based firm has its own range of Mutual funds.
The company is active in equities, derivatives, and commodities and also offers MFs for Indian investors.
12) BOI AXA Mutual Fund
BOI AXA is a joint venture between PSU lender Bank of India and Non-Banking Financial Company (NBFC), Bharti AXA. Under this partnership, the company offers BOI AXA Mutual Funds brand.
13) Baroda Pioneer Mutual Fund
Baroda Pioneer Asset Management Company Limited is a joint venture between two large and well-established financial services companies – Bank of Baroda and Pioneer Investments.
There are various options offered by this MF company.
14) DSP BlackRock Mutual Fund
DSP BlackRock is a Mumbai-based company launched in JV with 150-year-old Indian finance house, DSP and leading US-based financial house, BlackRock.
Mutual Funds branded as DSP BlackRock are available from this company.
15) HSBC Mutual Fund
HSBC Global Asset Management, a division of banking major HSBC offers a wide range of Mutual Fund Scheme for investors in India.
You can invest in some foreign and Indian MFs offered by the bank, through its website.
16) L&T Mutual Fund
Indian engineering major, L&T has entered financial services segment too.
The company offers its range of MFs for a wide range of investors. The company has enlisted top financial experts for its Mutual fund’s offerings.
17) Indiabulls Mutual Fund
Indiabulls Housing Finance Limited is one of India’s leading and fastest growing private sector financial services companies providing Consumer Finance, Housing Finance, Commercial Loans, Asset Management and Advisory services, says its website.
The company offers its own brand of Mutual fund scheme to invest for Indian investors.
18) Mirae Asset Mutual Fund
Mirae Asset Mutual Fund is sponsored by Mirae Asset Global Investments Co. Limited, South Korea.
Mirae Asset is present in India since 2004 and offers various investment options through Mutual funds.
19) IDFC Mutual Fund
Also called Infrastructure Development Finance Co (IDFC), the organization has a variety of Mutual fund scheme, through its assets management company.
It claims to be one of the largest Mutual fund providers in India.
20) Sundaram Mutual Fund
Sundaram Asset Management Company (Company) has over 20 years of experience in fund management and is a fully owned subsidiary of one of India’s oldest and most respected NBFCs, Sundaram Finance Limited.
The company was jointly promoted by Sundaram Finance Ltd and Stewart Newton Holdings (Mauritius) Ltd in 1996, states its website.
Investing in Mutual Fund Scheme
Before investing in Mutual fund schemes, it is advisable to speak to a financial advisor you know.
You can invest in MFs either by visiting websites of any of the providers or through the Association of Mutual Funds in India (AMFI).
Alternatively, you can also visit your bank in an NBFC office to invest.
Similar to all financial transactions, you have to complete Know Your Customer (KYC) formalities for investing in MFs. For online investments, you require e-KYC. Know Step-by-step Guide to Complete eKYC.
The facility of e-KYC is provided on websites of these MF providers.
However, your Aadhar Card has to be linked to your Permanent Account Number (PAN). Know how to apply for PAN Card – quick and easy Guide.
Additionally, the One Time Password required for e-KYC will be sent to your mobile number submitted when applying for Aadhar card. Also, your email ID has to match the one provided on Aadhar application.
In India, all Mutual fund schemes are regulated by SEBI. However, this does not imply they are risk-free or provide hedged investments.
Subscription forms to every Mutual fund explicitly states they are “subject to market risks.”
This means, your investment in MFs will provide returns based on the performance of the Bombay Stock Exchange, National Stock Exchange, Multi Commodities Exchange and other markets where a Mutual fund provider invests money behalf of you and other investors.
To popularize and promote investments in MFs, major companies have formed the Association of Mutual Funds in India (AMFI).
“AMFI is dedicated to developing the Indian Mutual Fund Industry on professional, healthy and ethical lines and to enhance and maintain standards in all areas with a view to protecting and promoting the interests of mutual funds and their unit holders.
AMFI, the association of SEBI registered mutual funds in India of all the registered Asset Management Companies, was incorporated on August 22, 1995, as a non-profit organization.
As of now, all the 42 Asset Management Companies that are registered with SEBI, are its members, states its website.
AMFI and its member organizations conduct regular awareness programs to educate laymen about MFs and its benefits.
You can check the AMFI website for the schedule of these awareness programs to learn more about MFs from financial experts.