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Mutual fund houses in India

Every asset management company we distribute for, with its own scheme documents a click away. Names you will recognise from your statements, and a few you may not.

Fund houses
43
Statutory documents each
4

A fund house does not hold your money. Your investments sit with a SEBI-registered trustee and custodian, which is what makes the list below a matter of who manages your money rather than who holds it.

What a fund house actually does

An asset management company is the entity that runs a mutual fund’s schemes: it decides what each scheme buys and sells within the mandate that scheme has published, employs the fund managers and analysts who make those calls, and is paid a fee out of the scheme for doing it. Every AMC operating in India is registered with SEBI and can only launch a scheme after filing its offer documents with the regulator.

What an AMC does not do is hold your money. An Indian mutual fund is set up as a trust, and the structure deliberately separates the three jobs: a sponsor establishes the fund, a board of trustees holds the scheme’s assets in trust for unitholders and supervises the AMC on their behalf, and the AMC manages the investments. The securities themselves sit with an independent custodian, and your transactions and unit balances are maintained by a registrar and transfer agent - CAMS or KFintech for almost every fund house on this page.

That separation is the reason a fund house changing hands is an administrative event rather than a threat to your holdings. When one AMC acquires another, the schemes are transferred or merged under SEBI’s supervision, unitholders are notified and given a window to exit without an exit load if the scheme’s fundamental attributes change, and the assets never stop belonging to the trust.

What actually differs between fund houses

Every AMC here is regulated the same way and files the same documents. The differences that are worth your attention are narrower than the marketing suggests.

  • Investment philosophy

    Some houses are built around a single, strongly held approach - deep value, quality-at-a-price, index-only - and run it across their range. Others deliberately offer a fund of every style. Neither is better, but a house whose philosophy you disagree with will keep producing funds you do not want to hold.

  • Fund manager tenure

    The track record printed on a factsheet belongs to whoever was managing the scheme at the time. A house with long manager tenures gives that record more meaning; frequent changes make it a description of the past rather than a guide to the future.

  • Cost

    Expense ratios vary between houses running comparable schemes, and the gap compounds. It is the one difference between fund houses that is knowable in advance and certain to affect your outcome - everything else is a forecast.

  • Range and depth

    A large house will have a scheme in nearly every category; a specialist may run five funds and nothing else. If you want your whole portfolio under one roof that matters; if you are buying one scheme on its merits, it does not.

  • Service and disclosure

    How quickly statements arrive, how readable the factsheets are, how much a house discloses beyond the minimum. Unglamorous, but it is what you deal with every month for years.

Size is the one that misleads most often. A larger AUM tells you a fund house has gathered more money, not that it has managed it better - and past performance, at the house level as much as the scheme level, is not indicative of future returns.

Frequently asked questions

What is an AMC?
An asset management company is the SEBI-registered company that runs a mutual fund’s schemes - choosing what each scheme invests in within its stated mandate, employing the fund managers, and charging a fee to the scheme for doing so. “Fund house”, “AMC” and “mutual fund company” all refer to the same thing.
What is the difference between a mutual fund and an AMC?
The mutual fund is the trust that holds the money; the AMC is the company hired to manage it. In practice the two names are used interchangeably - “SBI Mutual Fund” is the fund, “SBI Funds Management Ltd” is the AMC - but the distinction matters legally, because your units are a claim on the trust rather than on the company.
Who regulates mutual fund houses in India?
SEBI, under the SEBI (Mutual Funds) Regulations, 1996. Every AMC must be registered, every scheme’s offer documents must be filed before launch, and disclosure, valuation, expense caps and advertising are all prescribed. AMFI, the industry body, sits alongside it and issues best-practice guidelines and the ARN registration that distributors hold.
Where is my money actually held?
Not with the AMC. An Indian mutual fund is a trust: the trustees hold the scheme’s assets on behalf of unitholders, an independent custodian holds the securities, and a registrar and transfer agent - usually CAMS or KFintech - maintains the unit records. The AMC manages the portfolio but never takes custody of it.
What happens to my investments if a fund house is sold or shuts down?
The schemes are transferred to the acquiring AMC or merged into comparable ones, under SEBI’s supervision. Unitholders are notified in advance, and if a scheme’s fundamental attributes change as a result you get a window to exit without paying an exit load. Because the assets belong to the trust rather than to the company, a change of ownership does not put them at risk. Several fund houses on this page were formed exactly this way.
Does the fund house matter more than the scheme?
Usually the other way round. The scheme’s mandate, its costs and who manages it determine what you actually own; the house sets the philosophy and the standards those schemes are run to. It is reasonable to rule out a house whose approach you disagree with, but choosing a scheme purely because of the name above it is not a strategy.
Does a bigger AMC mean better returns?
No. Assets under management measure money gathered, not skill applied. Scale can help with costs and research depth and can make a very large fund harder to manage nimbly in smaller companies. Neither effect is reliable enough to pick a house on.
Can I hold schemes from several fund houses in one place?
Yes. Units bought from different AMCs sit in the same folio structure at the registrar level and can be tracked together, which is what Koshex does - there is no requirement, or advantage, to concentrating your investments with a single fund house.
Where do I find a fund house’s factsheet, KIM, SID and SAI?
On the fund house’s own website. We keep a directory of all four documents for every AMC and SIF on this site - see Scheme related documents - which links straight through to the current filings rather than to copies.
What is an ARN?
An AMFI Registration Number, held by every mutual fund distributor entitled to sell schemes in India. It identifies who introduced an investment and is how the distributor’s commission is attributed. Ours is ARN-154632, shown in the footer of every page along with its validity.
Does it cost more to invest in one fund house than another through Koshex?
No. We do not charge you a fee for investing, and distributor commission is paid by the AMC out of the scheme’s total expense ratio rather than added to what you pay. Expense ratios do differ between schemes and houses, which is a real cost difference - but it is the scheme’s cost, not ours.
Are all these fund houses currently operating?
Yes. Fund houses that have been absorbed into others - IDFC into Bandhan, L&T into HSBC, IDBI into LIC, Indiabulls into Groww - are not listed here, because their schemes are now run by the acquiring AMC and appear under that name instead.