When we talk about Mutual Funds. You all might have come across the term AMC.
- Do you know what is AMC?
- What does it mean?
- List of AMCs in India
- Is it secure to invest using 3rd party apps?
Let's get to know few things about AMC step by step.
AMC stands for Asset Management Company. In layman's language, it is nothing but Mutual Fund Company.
Simple short video:
When we think about opening some account where we can deposit our cash (money), we have to visit the bank and open a bank account.
Similar to that, When we think about investing in mutual funds. We have to do it through AMC (Asset Management Company).
In simple words,
- Bank: for savings account
- AMC: for Mutual Funds
You might have already heard of many AMC in your daily life. Some are listed below (in alphabetical order):
- Aditya Birla Sun Life Mutual Fund
- Axis Mutual Fund
- Baroda Pioneer Mutual Fund
- Canara Robeco Mutual Fund
- DHFL Pramerica Mutual Fund
- DSP Blackrock Mutual Fund
- Edelweiss Mutual Fund
- Franklin Templeton Mutual Fund
- HDFC Mutual Fund
- HSBC Mutual Fund
- ICICI Prudential Mutual Fund
- IDBI Mutual Fund
- IDFC Mutual Fund
- Invesco Mutual Fund
- JM Financial Mutual Fund
- Kotak Mahindra Mutual Fund
- L&T Mutual Fund
- LIC Mutual Fund
- Mirae Asset Mutual Fund
- Motilal Oswal Mutual Fund
- Nippon India Mutual Fund
- Reliance Mutual Fund
- SBI Mutual Fund
- Sundaram Mutual Fund
- Tata Mutual Fund
- UTI Mutual Fund
and many more...
One AMC has multiple mutual fund schemes and multiple fund managers. If you think of investing in multiple mutual fund schemes then 1 way is to visit the individual AMC website and start investing there...
But since each AMC has a different website, it will be very difficult for you to track all your investments and it will become more & more difficult as your investment grows and diversification in your investment increases.
The solution to that is you can use a third-party app like Etmoney, Groww, Kuvera & INDmoney, etc. Even though you start your investment through these third-party apps, your money will directly go to the respective AMC. So your investment will remain secure. You can track all your mutual funds (invested through 3rd party apps) on your respective AMC website.
In case any of the above third-party apps get closed permanently, you will still be able to track, invest more & withdraw your invested mutual funds from the respective AMC website.
NOTE: Always invest in a direct plan and increase your return by 0.5 to 1% per annum.
Open your accounts, complete the KYC process and start investing. links to open an account with your favorite mutual fund apps are given below:
- Groww (Free Demat + MF): https://groww.app.link/refe/akshay1537318
- ETMONEY (MF + NPS): https://etmoney.onelink.me/unJQ/cdcb05a0
- Kuvera: https://kuvera.in/explore/gold-rush/?referral=16QF4
- Zerodha (Demat): https://zerodha.com/open-account?c=YA7061
- Angel Broking (Free Demat): https://tinyurl.com/yy3bdxjp
Note: Above links are referral links. You may help us by opening an account through the above links.
If you have any doubt about investing, feel free to drop it in the comment box below. I will try my best to help you and smoothen your investment journey.
Thank you,
Akshay P Daga