Question

Which of the following has become the country's largest asset management company on 3 January 2019?
SBI Mutual Fund
HDFC Mutual Fund
ICICI Prudential Mutual Fund
Reliance Mutual Fund
Mirae Asset Financial Group

Answer 1

Answer:

HDFC Mutual Fund has become the country's largest asset management company on 3 January 2019.

Explanation:

HDFC Mutual Fund has exceeded ICICI Prudential MF to turn out to be the India’s biggest Asset management company (AMC).

As according to the latest data available with association of Mutual finances in India (Amfi), HDFC MF manages property really worth Rs 3.35 lakh crore, at the same time as ICICI Prudential MF stood at Rs 3.08 lakh crore as of December 2018.

MFs are funding automobiles made up of a pool of budget gathered from a large number of traders and spend money on shares, bonds and cash market instruments, amongst others.