India is home to various mutual fund houses, and in this article, we’re going to look more closely at some of the oldest ones in the country. We’ll be looking at how long these mutual fund houses have been around, and how customers have benefitted from them over the years. Some of these companies have been around for several decades, and currently manage millions of rupees in funding.
Let’s get right into it.
3 Oldest Mutual Fund Houses in India
3. UTI Asset Management
Year Opened: 1963
Company headquarters: Mumbai, Maharashtra
Type of company: Public
Photo Source: Wikimedia Commons
The Unit Trust of India Asset Management company is the oldest mutual fund house in all of India! It was started by the Indian government in the early 1960s and has since become one of the most popular mutual fund houses in the country.
At present, UTI has over 200 domestic schemes and more than 12 million investor accounts. Over the years, this mutual fund house has managed to accumulate assets worth over ₹10,000 crores. The company also manages various pension funds.
Did you know?
UTI Asset Management has 102 branches all over India.
2. SBI Mutual Fund
Year Opened: 1987
Company headquarters: Mumbai, Maharashtra
Type of company: Private
Photo Source: Openverse
The State Bank of India mutual fund was first started in 1987. It’s interesting to note that this private company emerged as the result of a joint venture between an asset management company called Amundi, a public sector bank, and the State Bank of India.
In terms of their products and services, the SBI mutual fund offers customers hybrid schemes, equity funds, and cash management services.
Did you know?
It’s interesting to note that after the SBI mutual fund was launched, it was known to be India’s first non-UTI mutual fund.
1. UTI Flexi Cap Fund
Year Opened: 1992
Company headquarters: Mumbai, Maharashtra
Type of company: Public
Photo Source: Wikimedia Commons
The UTI Flexi Cap Fund was first launched in the middle of 1992, as a part of the UTI Mutual Fund. It used to be called the UTI Equity Fund, but the name was later changed. At present, this mutual fund is managed by Ajay Tyagi.
This mutual fund is noted for its diverse investments across a various of instruments, including derivatives, money market instruments, and various others.
Did you know?
The UTI Flexi Cap Fund is one known for being affordable to operate.
Conclusion
In this article, we took a closer look at some of the oldest mutual fund houses in India. These mutual fund houses have helped people earn money on investments and diversify portfolios. While there are several other mutual fund houses across the country, we were unable to find more information on some of them! However, if you’re interested in learning more about fund management in India, we encourage you to do some of your own research.
