Which among the following tops in the list of Association of Mutual Funds in India (Amfi)?
Options
A. ICICI Prudential Asset Management
B. HDFC Asset Management
C. Reliance Capital Asset Management
D. UTI Asset Management
Correct Answer
HDFC Asset Management
Explanation
India's asset management companies (AMCs) own assets under management (AUM) worth Rs24.46 trillion, according to data released by the Association of Mutual Funds in India (Amfi). HDFC Asset Management Co. Ltd has claimed the top spot with an average AUM of Rs3.42 trillion, overtaking ICICI Prudential Asset Management Co. Ltd with an average AUM of at Rs3.20 trillion. Out of the total industry assets, a huge 82.7% is owned by the top 10 AMCs, who have owned around 80% of the industry assets over at least three years now.
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