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As of October 2019, the MFDA represented 90 mutual fund dealer members. These members include 79,789 approved persons and $570.968 billion in Assets under Administration. As of February 2020, the MFDA represented 91 mutual fund dealer members. These members include 78,256 approved persons and $573.664 billion in Assets under Administration.
Mahindra AMC Pvt Ltd is the Investment Manager for Mahindra Mutual Fund. It started its operation in July 2016, with an AUM of ₹120 crore. Currently its NAV is floating around ₹1000. Mahindra Mutual Fund endeavors to offer a variety of mutual fund schemes pan India, with special focus in rural and semi-urban areas. [12]
It was incorporated on 22 August 1995, as a non-profit organisation. As of now, 44 Asset Management Companies that are registered with SEBI, are its members. Most mutual funds firms in India are its members. The organisation aims to develop the mutual funds market in India, by improving ethical and professional standards. [2]
In March 2023, the final registration from the Securities and Exchange Board of India was granted to commence mutual fund business operations under Bajaj Finserv Mutual Fund. [38] The AMC has disclosed an average of ₹ 16,293 crore (US$1.9 billion) in average assets under management (AAUM) for the quarter ending 30 September 2024.
As of 2019, Capital Group had 36 mutual funds, which operate under their American Funds banner and had about US$1.9 trillion under management. [25] Growth Fund of America, founded in 1973, was the largest actively-managed fund as of 2020 with around $150 billion.
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Kuvera is an Indian online wealth management platform for mutual funds, digital gold, fixed deposits, cryptocurrency exchange, insurance & US ETF investment. It is operated by Arevuk Advisory Services Pvt. Ltd., a company headquartered in Bangalore. [1] [2]
Navi acquired Essel Mutual Fund, which was given approval by SEBI in December 2020. [20] In May 2021, Navi Mutual Fund moved their headquarters from Mumbai to Bengaluru , making it the first Bengaluru – headquartered asset management company.