In the world of mutual funds, an AMC (Asset Management Company) is a SEBI registered financial institution that accepts money from different investors and allocates it to mutual fund schemes chosen by the investors. This money is invested by professionals on behalf of investors, which are appointed by the AMC. Every mutual fund has an Asset Management Company (AMC) associated with it. 

Asset management companies are commonly referred to as money managers or money management firms as well. They employ professionals, including a fund manager, to manage the funds on behalf of investors for a fee (known as expense ratio). Fund managers are highly skilled professionals with an extensive experience in stock markets and investments. They are appointed by AMC to manage the fund and make sure investments align with the investors' goals and seize the right opportunities in a constantly changing market. Their main aim is to make profitable investments.

The AMC may be assisted by a custodian and a registrar.

In India, AMCs work under the supervision of a board of trustees and follow the rules set by The Securities and Exchange Board of India aka SEBI and are obliged to make investments in compliance with SEBI regulations.

List of AMCs in India

There are over 40 AMCs currently in India. Currently the biggest AMC in India in terms of asset under management (AUM) is SBI mutual fund, followed by Nippon India Mutual Fund and HDFC Mutual Fund. In terms of the highest number of schemes, UTI Mutual Fund tops the list with over 5300 schemes followed by ICICI Prudential Mutual Fund.

Here's a list of AMCs in India along with their AUMs and number of schemes: