Top 10 Mutual Funds in India


India can be an investors paradise or and investors nightmare. India was a region hit hard by the economic downturn of the last couple of years but has been bouncing back nicely from the nearly 53% lose taken last year. It has rebounded well though, much faster than other developing countries and many foreign investors are channeling funds into this “new” market. The top 10 current Indian mutual funds are:

• The Matthews India Fund offers investors specific exposure to India’s economy but investing in Indian start ups.

• Reliance Capital Asset Management managed more than one half times more money than it nearest competitor with more than $21 billion rupees in assets.

• Britain’s Standard Life Investments owns a large stake, 40%, in HDFC, India’s second largest private-sector lender. This firm managers $527 billion rupees in June and is still growing.

• Prudential Plc, a part of the British Financial services group, has a nearly 59% stake in ICICI Prudential Asset Management, with only ICICI holding the remainder.

• The State Bank of India and Punjab National Bank, along with Life Insurance Corp, all state run entities, each own 25% of UTI Asset Management which is the oldest mutual fund company.

• Birla Sun Life Asset Management is a joint venture between Aditya Birla Group and the Canadian insurer Sun Life Financial and manages $410 billion rupees.

• Societe General has obtained a 37% stake in SBI Funds Management, with State Bank of India, the largest bank in India. This fund manages $300 billion rupees.

• Franklin Resources Inc. owns India’s sixth largest fund, Franklin Templeton Asset Management and manages %247 billion rupees.

• Tata Asset Management is controlled by Tata Group, which controls more that $238 billion rupees in June. The firm is also allying itself with Britain’s New Star Asset Management, to manage New Star India’s India-dedicated funds.

• Kotak Mahindra Management is owned by Kotak Mahindra bank Ltd, which has an alliance with T. Rowe Price in an effort to launch global funds.

With India’s newly booming market opportunities, it may be just the place for savvy investors to squirrel away some money for better returns.

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