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An analysis done by Cafemutual shows that UTI Asset Management, Nippon Life India Asset Management, and SBI Funds Management are the top three players in the PMS industry in AUM in December 2024 if we exclude PF/EPFO contributions.
UTI Asset Management holds the top position with assets of Rs. 1 lakh crore while Nippon Life India Asset Management secures the second spot with AUM of Rs. 78,740 crore.
SBI Funds Management occupies the third spot with assets of Rs. 54,230 crore.
Enam Asset Management and Darashaw and Company capture the next two spots with AUM of Rs. 42,064 crore and Rs. 36,772 crore, respectively.
Other PMS players in the top 10 include Franklin Templeton Asset Management (India), 360 One Portfolio Managers, 360 One Asset Management, ICICI Prudential Asset Management and Unifi Capital.
If we include the EPFO AUM, SBI Funds Management leads the total AUM rankings with Rs. 14.72 lakh crore. UTI AMC shows an interesting contrast - while it ranks second in total AUM with Rs. 13. 49 lakh crore, it maintains leadership in non-PF/EPFO AUM with Rs. 1 lakh crore.
Darashaw & Company ranks third in total AUM with Rs. 1.43 lakh crore but drops to fifth place with Rs. 36,772.07 crore in non-PF/EPFO AUM.
Let’s look at the data to get a better understanding of non-PF/EPFO AUM:
No. |
Name of PMS Provider |
PMS AUM without PF/EPFO |
1 |
UTI Asset Management |
100832.01 |
2 |
Nippon Life India Asset Management |
78738.66 |
3 |
SBI Funds Management |
54234.88 |
4 |
Enam Asset Management |
42064.40 |
5 |
Darashaw and Company |
36,772.07 |
6 |
Franklin Templeton Asset Management (India) * |
36528.21 |
7 |
360 One Portfolio Managers Limited |
33301.12 |
8 |
360 One Asset Management Limited |
31306.66 |
9 |
ICICI Prudential Asset Management |
22835.78 |
10 |
Unifi Capital |
22353.58 |
11 |
Invesco Asset Management (India) |
21217.27 |
12 |
ASK Investment Managers |
20821.05 |
13 |
Abakkus Asset Manager Private Limited |
19976.76 |
14 |
Valuequest Investment Advisors |
19081.57 |
15 |
Quantum Advisors |
18767.21 |
16 |
Avendus Wealth Management |
16893.66 |
17 |
Motilal Oswal Asset Management Company |
15231.14 |
18 |
Deutsche Investments |
14600.30 |
19 |
Old Bridge Capital Management |
9096.80 |
20 |
Idbi Capital Market Services |
8804.68 |
21 |
Julius Baer Wealth Advisors India |
8639.15 |
22 |
Alchemy Capital Management |
7650.56 |
23 |
Dezerv Investments |
7129.35 |
24 |
White Oak Capital Management |
7073.50 |
25 |
Brain Point Investment |
6991.92 |
26 |
Karma Capital Advisors |
6813.14 |
27 |
Carnelian Asset Management And Advisors |
6524.14 |
28 |
Banyan Tree Advisors |
5630.14 |
29 |
Marcellus Investment Managers |
5587.10 |
30 |
Whiteoak Capital Asset Management |
5578.86 |
31 |
Nuvama Asset Management |
5559.43 |
32 |
Oaklane Capital Management |
5314.11 |
33 |
Motilal Oswal Wealth |
5183.30 |
34 |
Capitalmind Financial Services |
4973.45 |
35 |
Sageone Investment Managers |
4835.62 |
36 |
Axis Securities |
4784.68 |
37 |
Nj Asset Management |
4488.91 |
38 |
Kotak Mahindra Asset Management |
4414.04 |
39 |
Buoyant Capital |
4369.07 |
40 |
Stallion Asset |
4242.38 |
41 |
Laburnum Capital Advisors |
4124.37 |
42 |
Barclays Securities (India) |
4038.65 |
43 |
Buglerock Capital |
3941.48 |
44 |
ASK Wealth Advisors |
3868.07 |
45 |
Helios Capital Asset Management (India) |
3826.06 |
46 |
HDFC Asset Management |
3748.01 |
47 |
ICICI Securities |
3527.90 |
48 |
TRUST Investment Advisors |
3371.46 |
49 |
Credit Suisse Securities |
3310.74 |
50 |
Sundaram Alternate Assets |
3244.66 |
51 |
Bellwether Capital |
3216.78 |
52 |
Clubmillionaire Financial Services |
3082.32 |
53 |
Alfaccurate Advisors |
2938.61 |
54 |
Aequitas Investment Consultancy |
2889.08 |
55 |
Spark Pwm |
2872.34 |
56 |
Ithought Financial Consulting |
2784.81 |
57 |
Ambit Investment Advisors |
2696.70 |
58 |
Unique Asset Management |
2644.63 |
59 |
Birla Sun Life Asset Management Company |
2355.79 |
60 |
Purnartha Investment Advisers |
2286.57 |
61 |
Quest Investment Advisors |
2183.13 |
62 |
Miv Investment Services |
2029.59 |
63 |
JM Financial |
2024.35 |
64 |
Equity Intelligence |
1997.20 |
65 |
Girik Wealth Advisors |
1912.75 |
66 |
Axis Asset Management Company |
1745.79 |
67 |
Jain Investment Advisors |
1712.63 |
68 |
Solidarity Advisors |
1687.19 |
69 |
Lgt Wealth India |
1680.69 |
70 |
Vallum Capital Advisors |
1664.18 |
71 |
Valentis Advisors |
1630.53 |
72 |
Envision Capital Services |
1618.92 |
73 |
Sameeksha Capital Private |
1572.78 |
74 |
Itus Capital Advisors |
1569.54 |
75 |
Centrum Broking |
1567.27 |
76 |
Right Horizons Portfolio Management |
1560.34 |
77 |
Pioneer Client Associates |
1514.62 |
78 |
Neo Asset Management |
1511.43 |
79 |
Globe Capital |
1487.05 |
80 |
Multi-Act Equity Consultancy |
1427.15 |
81 |
Securities Investment Management |
1357.52 |
82 |
Geojit Financial Services |
1328.39 |
83 |
Samvitti Capital Private |
1318.64 |
84 |
2Point2 Capital Advisors Llp |
1299.36 |
85 |
Anand Rathi Advisors |
1266.65 |
86 |
Avestha Fund Management |
1247.80 |
87 |
Ambit Wealth Private |
1239.75 |
88 |
Sahasrar Capital Private |
1127.51 |
89 |
Renaissance Investment Managers |
1125.53 |
90 |
Dalal And Broacha Stock Broking |
1116.84 |
91 |
Incred Asset Management |
1113.96 |
92 |
Agreya Capital |
1098.88 |
93 |
Negen Capital Services |
1050.54 |
94 |
Narnolia Financial Services |
1038.95 |
95 |
Guardian Advisors |
1022.87 |
96 |
Svan Investment Managers |
1007.83 |
97 |
Jeetay Investments |
1005.52 |
98 |
Bhana Equity |
997.44 |
99 |
Banyan Capital Advisors |
991.89 |
100 |
East Lane Capital |
988.24 |
Note: Franklin Templeton AMC has advisory PMS only
In terms of the number of clients (excluding PF/EPFO), ICICI Prudential Asset Management leads with 22,451 clients.
ASK Investment Managers occupies the second spot with 12,285 clients. Not so far behind is Motilal Oswal Asset Management Company with 11,910 clients.
Abakkus Asset Manager and Unifi Capital hold the fourth and fifth positions with 10,932 and 10,298 clients respectively.
360 One Asset Management, Marcellus Investment Managers, Axis Securities, NJ Asset Management and Whiteoak Capital Asset Management are among the top 10 players.
Let’s look at the data to get a better understanding of the top PMS players in number of non-PF/EPFO clients:
No. |
Name of PMS Provider |
Total non- PF/EPFO Clients |
1 |
ICICI Prudential Asset Management |
22451 |
2 |
ASK Investment Managers |
12285 |
3 |
Motilal Oswal Asset Management Company |
11910 |
4 |
Abakkus Asset Manager Private Limited |
10932 |
5 |
Unifi Capital |
10298 |
6 |
360 One Asset Management Limited |
6598 |
7 |
Marcellus Investment Managers |
4180 |
8 |
Axis Securities |
3530 |
9 |
Nj Asset Management |
3530 |
10 |
Whiteoak Capital Asset Management |
3452 |
11 |
Stallion Asset |
3109 |
12 |
Buoyant Capital |
3016 |
13 |
Carnelian Asset Management And Advisors |
2853 |
14 |
Dezerv Investments |
2819 |
15 |
Sundaram Alternate Assets |
2272 |
16 |
Alchemy Capital Management |
2257 |
17 |
Birla Sun Life Asset Management Company |
2064 |
18 |
360 One Portfolio Managers Limited |
2040 |
19 |
Valuequest Investment Advisors |
2022 |
20 |
Purnartha Investment Advisers |
1953 |
21 |
Banyan Tree Advisors |
1936 |
22 |
Geojit Financial Services |
1893 |
23 |
SBI Funds Management |
1873 |
24 |
Enam Asset Management |
1729 |
25 |
ICICI Securities |
1727 |
26 |
Axis Asset Management Company |
1647 |
27 |
Ambit Investment Advisors |
1641 |
28 |
Kotak Mahindra Asset Management |
1459 |
29 |
Ithought Financial Consulting |
1371 |
30 |
Alfaccurate Advisors |
1346 |
31 |
Capitalmind Financial Services |
1340 |
32 |
Equity Intelligence |
1294 |
33 |
Nippon Life India Asset Management |
1179 |
34 |
Anand Rathi Advisors |
1116 |
35 |
Jain Investment Advisors |
1059 |
36 |
Renaissance Investment Managers |
1001 |
37 |
Sageone Investment Managers |
971 |
38 |
Nuvama Asset Management |
935 |
39 |
Quest Investment Advisors |
925 |
40 |
Clubmillionaire Financial Services |
892 |
41 |
Negen Capital Services |
872 |
42 |
Brain Point Investment |
838 |
43 |
Helios Capital Asset Management (India) |
811 |
44 |
Invesco Asset Management (India) |
766 |
45 |
2Point2 Capital Advisors Llp |
734 |
46 |
Right Horizons Portfolio Management |
691 |
47 |
Unique Asset Management |
680 |
48 |
Valentis Advisors |
671 |
49 |
Centrum Broking |
618 |
50 |
Julius Baer Wealth Advisors India |
592 |
51 |
Bellwether Capital |
559 |
52 |
Sameeksha Capital Private |
554 |
53 |
Itus Capital Advisors |
526 |
54 |
Motilal Oswal Wealth |
507 |
55 |
Girik Wealth Advisors |
499 |
56 |
Dalal And Broacha Stock Broking |
499 |
57 |
Spark Asia Impact Managers |
489 |
58 |
Vallum Capital Advisors |
483 |
59 |
Incred Asset Managemen |
473 |
60 |
Buglerock Capital |
470 |
61 |
Spark Pwm |
469 |
62 |
Avendus Wealth Management |
444 |
63 |
ASK Wealth Advisors |
436 |
64 |
Globe Capital |
428 |
65 |
Miv Investment Services |
402 |
66 |
JM Financial |
401 |
67 |
Old Bridge Capital Management |
387 |
68 |
Samvitti Capital Private |
385 |
69 |
Ambit Wealth Private |
382 |
70 |
Agreya Capital |
377 |
71 |
Securities Investment Management |
351 |
72 |
Credit Suisse Securities |
307 |
73 |
TRUST Investment Advisors |
276 |
74 |
Solidarity Advisors |
255 |
75 |
DARASHAW and COMPANY |
249 |
76 |
Multi-Act Equity Consultancy |
244 |
77 |
Deutsche Investments |
225 |
78 |
Avestha Fund Management |
217 |
79 |
Lgt Wealth India |
197 |
80 |
Narnolia Financial Services |
185 |
81 |
Neo Asset Management |
183 |
82 |
Jeetay Investments |
161 |
83 |
Karma Capital Advisors |
158 |
84 |
Svan Investment Managers |
153 |
85 |
Bhana Equity |
142 |
86 |
Barclays Securities (India) |
134 |
87 |
Aequitas Investment Consultancy |
129 |
88 |
Banyan Capital Advisors |
119 |
89 |
HDFC Asset Management |
107 |
90 |
Envision Capital Services |
93 |
91 |
Oaklane Capital Management |
68 |
92 |
Pioneer Client Associates |
45 |
93 |
East Lane Capital |
44 |
94 |
Guardian Advisors |
29 |
95 |
Laburnum Capital Advisors |
28 |
96 |
Sahasrar Capital Private |
7 |
97 |
Quantum Advisors |
6 |
98 |
UTI Asset Management |
4 |
99 |
Franklin Templeton Asset Management (India) |
3 |
100 |
White Oak Capital Management |
3 |