Upcoming stars?

Thanks to the growing popularity of mutual funds as an investment avenue, the Indian mutual fund industry is in a constant phase of evolution and expansion. Nevertheless, many small players still find it difficult to gain a meaningful market share in the industry. Even some prominent global players, including Fidelity, ING and Morgan Stanley, have found the going tough and decided to exit the Indian business over the past few years. Amid this hyper-competitive environment, these six small AMCs have been able to gain much momentum in the last one year. A host of factors have paved the way for these AMCs to accelerate their journey. Quant Mutual Fund This fund house has been able to make the most of the bull run after the market crash of March 2020. Therefore, it has gained much attention. Unlike other fund houses, it focuses more on quantitative measures to run its funds. Over the past one year, the assets managed by the AMC have grown by over 620 per cent to about Rs 8,800 crore from over Rs 1,200 crore, thereby moving from the 33rd position to the 26th position. The AMC has leveraged the bull phase extremely well. Almost all of its funds are placed among the top three in their respective categories based on the past one-year performance. However, how effectively it manages the downside of the market is yet to be seen and we'd rather wait to see that before giving it a thumbs up. If it is able to navigate that well, it will pose a formidable challenge to its peers, given the fact that their conventional style of active management isn't keeping investors content. PPFAS Mutual Fund This decade-old fund house has hogged the lim