HDFC Mutual Fund overtook ICICI Prudential MF to become India’s largest AMC

Highlights:

  • HDFC Mutual Fund  entity overtook ICICI Prudential MF to become the country’s largest asset management company (AMC).
  • HDFC Mutual Fund has pipped ICICI Prudential MF to become the country’s largest asset management company after a gap of over two years. 
  • As of December-end, HDFC MF manages assets to the tune of Rs 3.35 lakh crore, while those of ICICI Prudential MF stood at Rs 3.08 lakh crore.
  • This was disclosed in the latest data available with Association of Mutual funds in India (AMFI).
  • HDFC MF was the largest asset manager since October 2011 and it held the top position till March 2016, when ICICI prudential MF had overtaken the top spot.