A study on the mutual fund market in India provides some insight over the mutual fund companies in India. The mutual fund business was started in India in the year 1963.
Unit Trust of India was the only mutual fund company in India from 1963 to 1987. It was by the end of 1980s when the Indian mutual fund market started to know-how the survival of other mutual fund companies.
Many financial companies in India started to enter into the market of mutual funds. Some of the main mutual fund companies that started their new operations in the Indian mutual fund market at the end of 1980s were - SBI Mutual Fund, Punjab National Bank Mutual Fund, Canbank Mutual Fund, Bank of India Mutual Fund, Indian Bank Mutual Fund, and many others. The new entries of mutual fund companies in India were SBI Mutual Fund, Canbank Mutual Fund, Indian Bank Mutual Fund, Punjab National Bank Mutual Fund, Bank of India Mutual Fund.
The succeeding decade showed a new scope in Indian mutual fund industry. By the end of 1993, the total AUM of the industry was Rs. 470.04 bn. The private sector funds started piercing the fund families. In the same year the first Mutual Fund Regulations came into subsistence with re-registering all mutual funds except UTI. The regulations were further given a revised shape in 1996.
Kothari Pioneer was the first private sector mutual fund company in India which has nowadays merged with Franklin Templeton. Just after ten years with private sector players penetration, the total assets rose up to Rs. 1218.05 bn. Today there are 33 mutual fund companies in India.
A list of Mutual Funds companies India:
|Mutual Funds Companies in India
- ABN AMRO Mutual Fund
- Birla Sun Life Mutual Fund
- Bank of Baroda Mutual Fund (BOB Mutual Fund)
- HDFC Mutual Fund
- HSBC Mutual Fund
- ING Vysya Mutual Fund
- Kotak Mahindra Mutual Fund
- Reliance Mutual Fund
- Morgan Stanley Mutual Fund India
- Alliance Capital Mutual Fund
- GIC Mutual Fund