Wealth Management Companies In India

Souvik Dey Souvik Dey
Nov 20, 2020 9 min read
Wealth Management Companies In India

Wealth management is a high-level professional service that combines financial/investment advice, accounting/tax services, retirement planning, and legal/estate planning for one fee. It is about managing your wealth or surplus funds to achieve a financial goal like ensure capital investment is kept intact or the investment risks are well managed at all times. There are so many wealth management companies in India. Before deciding how your money should be managed, you need to determine the financial situation and financial goals for both you and your business. You need to do the following activities:

  • Understand your business and personal financial goals and constraints
  • Analyze your business and personal financial position using net worth and cash flow analysis
  • Assess your business risks and personal risk profile

Three essential components of wealth management are a consultative process, customized choices, and solutions and delivery in close consultation with your clients. Mutual Fund AMC or Asset Management Company manages its clients’ pool of money by investing them in various asset classes, with a focus on mutual funds in this case.

Wealth Management Industry
Wealth Management Industry

1. ICICI Prudential Mutual Fund

ICICI Prudential Asset Management Company Ltd. Is a leading Asset Management Company (AMC) in the country focused on bridging the gap between savings and investments and creating long term wealth for investors through a range of simple and relevant investment solutions. ICICI Prudential Mutual Fund is one of India’s top 2 largest Asset Management Companies. It is one of the oldest and most profitable Mutual Funds. ICICI Prudential Mutual Fund has played a major role in setting up the CRISIL rating system in India. As a CIBIL score determines the creditworthiness of an individual, the CRISIL score determines the health of Mutual Fund in India.

ICICI Bank is India’s private sector bank with consolidated total assets of Rs. 13.77 trillion. The bank currently has a network of 5324 branches and 15688 ATMs across India.
Mutual Fund ICICI Prudential Mutual Fund
Founded 23 October, 1993
Incorporated 22 June, 1993
Sponsors Prudential Pic and ICICI Bank Ltd.
Trustee ICICI Prudential Trust Ltd.
MD and CEO Mr. Nimesh Shah
CIO Mr. S Naren
Compliance Officer Ms. Supriya Sapre

2. HDFC Mutual Fund

HDFC Mutual Fund was started in 1999 with a joint venture between Housing Development Finance Corporation Limited (‘HDFC’) and Standard Life Investments Limited (‘SLI’). HDFC AMC recorded a 16.2% market share in the actively-managed equity-oriented schemes in FY 2018-19. HDFC Mutual Fund offers a comprehensive suite of savings and investment products across asset classes which provide income and wealth creation opportunities to a large retail and institutional customer base of 9.3 million live accounts. HDFC Mutual Fund is consistent position as one of India’s leading asset management companies is driven by comprehensive investment philosophy, process, and risk management companies are driven by investment team is highly experienced and competent with a track record of performance, stability and deep understanding of business.

According to SEBI, its net worth stood at Rs. 61402 crore total income at Rs. 35229 Crore, profit (after tax) at Rs. 12163 Crore in March 2018.
Mutual Fund HDFC Mutual Fund
Asset management company HDFC Asset Management Company Ltd.
Founded 10 Decembr, 1999
Incorporated 03 Jul, 2000
Sponsors Housing Development Finance Corporation Ltd.(HDFC Ltd.)
Standard life Invstments Ltd.
Trustee HDFC Trust Company Ltd.
Name of trustees Mr. Anil Kumar Hirjee(Chairman)
Mr. Ranjan Sanghi (Director)
Mr. V. Srinivasa Rangan (Director)
Mr. Vimal Bandari (Director)
MD and CEO Mr. Milind Barve
CIO Mr. Prashant Jain
Compliance Officer Ms. Yezdi Khariwala

3. Reliance Mutual Fund (Now Nippon India Mutual Fund)

One of the fastest-growing mutual funds in India, Nippon Mutual Fund was incorporated in 1995 and has been performing strongly since its presence in over 160 cities in India. It manages assets across managed accounts, mutual funds, pension funds, alternative investments, and offshore funds. Reliance Capital Limited is one of India’s topmost RBI registered Non-Banking Finance Company and has its business interests in asset management, life insurance, general insurance, stockbroking, and other activities in the financial sector. There are over 200 schemes available under NMF and over 800 scheme options for investors to choose from. Nippon Mutual Funds manage assets worth Rs. 207288 Crores. Currently, the range of Nippon mutual funds schemes includes 5 equity, 266 debt, ad 40 balanced funds.

Mutual Fund Nippon India Mutual Fund
Founded 30 June, 1995
Sponsors Nippon Life Insurance Company
Trustee Nippon Life India Asset Management Limited
MD and CEO Mr. Sundeeep Sikka
CIO Mr. Amit Tripathi(D) and Mr. Manish Gunwani (E)
Compliance Officer Ms. Muneesh Sud
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4. SBI Mutual Fund

SBI Mutual Fund provides the best in class service and solutions to all our stakeholders. The SBI Mutual Fund Trustee Company Private Limited was set up as a trust under the Trust Act of 1882. This Trust controls the SBI Mutual Fund, one of India’s largest and oldest Mutual Fund. The fund house offers a broad range of domestic mutual fund schemes across equity, debt, and balanced categories along with offshore funds. SBI Mutual Fund aspires to be the most trusted and respected asset manager. It was the first Indian Mutual Fund player to launch a ‘Contra’ fund, called the SBI Contra Fund. SBI Mutual Fund is the first in India to launch an ESG Fund. An acronym for Environment, Social, and Governance, the fund provides resources for sustainable investment in major markets.

Mutual Fund SBI Mutual Fund
Founded 29 June, 1987
Incorporated 07 February, 1992
Sponsors State Bank of India
Trustee SBI Mutual Fund Trustee Company Private Limited
Chairman Mrs. Arundhati Bhattacharya
MD and CEO Mrs. Anuradha Rao
CIO Mr. Navneet Munot
Compliance Officer Ms. Vinaya Datar
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5. Aditya Birla Sun Life Mutual Fund

Aditya Birla Sun Life AMC Limited, the investment manager of Aditya Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the Sun Life Financial Inc. of Canada. The joint venture brings together the Aditya Birla Group's experience in the Indian market and Sun Life's global experience. The Aditya Birla Group is the 3rd largest business conglomerate in India, with gross revenue over $41 billion.

Aditya Birla Sun Life Mutual Fund primarily deals in four classes of funds:

  • Equity funds
  • Income funds
  • Debt funds
  • ELSS funds

Aditya Birla Sun Life Mutual Fund takes an active approach in making the entire mutual fund management process straightforward and transparent to ease it for both investors and channel partners. Their portfolio of financial products services includes sector-specific equity options, treasury, and debt products, fund of fund schemes, and hybrid income funds, to name a few.

Mutual Fund Aditya Birla Sun Life Mutual Fund
Founded 23 December, 1994
Incorporated 05 September, 1994
Sponsors Aditya Birla Capital Ltd. / Sun Life (India) AMC Investments Inc
Trustee Aditya Birla Sun Life Trustee Private Limited
Chairman Mr. Kumar Mangalam Birla
MD and CEO Mr. A. Balasubramanian
Compliance Officer Ms. Hemanti Wadhwa
Scope of Wealth Management Services
Scope of Wealth Management Services

6. L&T Mutual Fund

L & T Investment Management Ltd. Is the asset management company of  L&T Mutual Fund. The company is a wholly-owned subsidiary of L&T Finance Holdings Ltd. Which is publicly-listed NBFC. Fund managers and analysis generate new ideas depending on the fund. For example, internal and external research, macro-economic analysis, through market research, and team meetings all contribute to such ideas in the case of fixed income funds.

Mutual Fund L&T Mutual Fund
Asset management company L&T Investment Management Company Ltd.
Founded 03 January, 1997
Incorporated 25 April, 1996
Sponsors L&T Finance Holdings Ltd.
Trustee L&T Mutual Fund Trustee Ltd.
Name of trustees Mr. S. V. Haribhakti(Independent Director)
Mr. V. Natarajan (Independent Director)
Mr. Hemant Y. Joshi (Independent Director)
Mr. Malini Thadani (Independent Director)
MD and CEO Mr. Kailash Kulkarni
CIO Mr. Soumendra Nath Lahiri
Compliance Officer Ms. Pushpavathi Kaundar

7. Kotak Mutual Fund

Kotak Mahindra Asset Management Company Limited (KMAMC), a wholly-owned subsidiary of Kotak Mahindra Bank Limited (KMBL), is the Asset Manager for Kotak Mahindra Mutual Fund (KMMF). Kotak Mahindra is one of India's leading financial institutions, offering complete financial solutions that encompass every sphere of life. Kotak Asset Management offers the best investment mutual funds such as Equity funds Debt Funds & SIP plans online. It provides mutual fund and portfolio management services under SEBI( ‘Mutual Funds’) Regulations, 1996 and SEBI ( Portfolio Manager) Regulations, 1993. Currently, the company offers around 261 schemes catering to the variable risk appetite of investors. It primarily invests in AAA and AA rated companies and possesses a substantial value of Assets Under Management(AUM).

Mutual Fund Kotak Mahindra Mutual Fund
Founded 23 June, 1998
Incorporated 05 August, 1994
Sponsors Kotak Mahindra Bank Ltd.
Trustee Kotak Mahindra Trustee Co. Limited
Chairman Mr.Uday Kotak
MD and CEO Mr. Nilesh Shah
CIO Mr. Harsha Upadhyaya(E) and Ms. Lakshmi Iyer(D)
Compliance Officer Ms. Jolly Bhatt
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8. UTI Mutual Fund

UTI Mutual Funds are managed by UTI Asset Management Company Ltd. (UTI AMC). With the help of a well-diversified portfolio, it uses industry-led best practices to serve the varied needs of investors. UTI Mutual Fund seventh-largest asset management company in India in terms of mutual fund QAAUM as of September 30, 2019, according to CRISIL. All UTI Mutual Funds are managed by the UTI Asset Management Company Ltd. The 4 big partners are – State Bank of India, the Punjab National Bank, Bank of Baroda, and the Life Insurance Corporation of India each holds 18.24% of the shares in the UTI Mutual Fund.

Mutual Fund UTI Mutual Fund
Founded 01 February, 2003
Incorporated 05 September, 1994
Sponsors State Bank of India/Punjab National Bank/Bank of Baroda/Life Insurance Corporation
Trustee UTI Trustee Co(P) Ltd.
MD and CEO Leo Puri
Compliance Officer Mr. Vivek Maheshwari

9. Franklin Templeton Mutual Fund

Franklin Templeton investments have offered asset management services for retail, institutional, and high-value clients. It not only offers mutual funds also exchange-traded funds, private funds, and separately-managed accounts. Under this, the company offers schemes like equity, fixed income, multi-asset, and alternatives. Franklin Templeton Investment is one of the few asset management companies that offer an in-house register for its clients for better service management and quality.

Mutual Fund Franklin Templeton Mutual Fund
Founded 19 February, 1996
Incorporated 06 October, 1995
Sponsors Templeton International Inc.
Trustee Franklin Templeton Trustee Services Pvt. Ltd.
Chairman N.A
MD and CEO N.A
CIO Mr. Anand Radhakrishnan / Mr. Santosh Kamath
Compliance Officer Mr. Saurabh Gangrade

10. DSP Mutual Fund

DSP Mutual Fund is a leading mutual funds investment company in India. It offers a vast range of mutual funds across equity, debt, and hybrid categories along with the international fund of funds, exchange-traded funds, and also close-ended funds. DSP one of the premier asset management companies in India with over 20 years of a track record of investment excellence. DSP group is a 152-year-old financial company. One of the members of the family that founded this group was behind the foundation of the Bombay Stock Exchange (BSE).

Mutual Fund DSP Mutual Fund
Founded 16 December, 1996
Incorporated 13 May, 1996
Sponsors DSP HMK Holdings Pvt. Ltd & DSP Adiko Holdings Pvt. Ltd (collectively) & BlackRock Inc.
Trustee DSP BlackRock Trustee Company Pvt. Limited.
Chairman N.A
MD and CEO N.A
Compliance Officer Mr. Pritesh Majmudar

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