HDFC Mutual Fund becomes India’s largest Asset Management Company
HDFC Mutual Fund has surpassed ICICI Prudential MF to become the India’s largest Asset Management Company (AMC). As per the latest data available with Association of Mutual funds in India (Amfi), HDFC MF manages assets worth Rs 3.35 lakh crore, while ICICI Prudential MF stood at Rs 3.08 lakh crore as of December 2018. MFs are investment vehicles made up of a pool of funds collected from a large number of investors and invest in stocks, bonds and money market instruments, among others.
