IDFC Mutual Fund was established in 2000 and is one of the largest Mutual Fund houses in India’s domestic market. In terms of Assets under Management or AUM, it is one of the 5 largest players in the sector. Over the years, the corporation has grown to cover most of the domestic market and has several regional headquarters across the Central and Eastern parts of the country, where economic growth is higher and more investment options are needed.
Despite being a relative newcomer, IDFC Mutual Fund has managed to shake up the domestic financial system. It has been the recipient of numerous awards and recognitions from the Mutual Funds statutory bodies and from industry leaders in media and management.
IDFC Mutual Funds have more than Rs. 121032.15 Crore as Assets Under Management as of March 2022, making it one of the most significant players in the Mutual Funds industry.
The IDFC AMC Trustee Company Private Limited manages IDFC Mutual Fund. It currently has over 250 Mutual Funds in the market. The funds are divested across various segments – from Gilt Funds to Fund of Funds and Children’s Funds.
In 2000, the Reserve Bank of India directed IDFC Ltd. to transfer its shareholding to IDFC Financial Holding Company Limited from IDFC’s Asset Management Company in keeping with banking norms. IDFC Ltd. continues to function as the largest shareholder in its Assets Management Company and the Mutual Funds business.
The Central Government established IDFC Ltd, the parent organisation of IDFC Mutual Funds, to fast-track the growth of private businesses in India. IDFC Ltd. also operates IDFC Bank.
IDFC Ltd. specialises in Financing, Principal Restructuring, Investment Banking, Brokerage, Assets Management and Advisory Services, and Project Financing. Its Asset Management operations include:
I. Investments via IDFC Alternatives Ltd., which specialises in private and project equity investments.
II. IDFC Assets Management Company or AMC which manages public markets asset management.
Auditors of IDFC Mutual Funds include the likes of Deloitte Haskins and Sells. Deutsche Bank Limited AG is the custodian of IDFC MF. IDFC Mutual Funds include of NAVs and AUMs, and have many options for first-time, experienced, retail and corporate investors et al.
(LATEST NEWS) (25 July, 2022) The IDFC Mutual Fund recently introduced IDFC Midcap Fund. This equity scheme will focus primarily on midcap stocks and equity-linked securities.