DSP Investment Managers

What DSP Investment Managers does

DSP Investment Managers (legally DSP Asset Managers Pvt. Ltd.) is one of India's independent mutual fund companies, established in 1996 and headquartered at the Ruby, 25th Floor, Senapati Bapat Marg, Dadar (West), Mumbai. The firm was known as DSP BlackRock Mutual Fund until the partnership with BlackRock ended in 2024, after which it rebranded to its current identity under the family-owned Kothari promoter structure (sponsor entities DSP HMK Holdings and DSP ADIKO Holdings). DSP manages approximately ₹2,04,000 crore of AUM as disclosed on its About Us page and ~₹2.3 lakh crore per third-party ranking, placing it as India's 10th largest mutual fund. It serves 63 lakh-plus investors and 88,000-plus distributors across 40-plus Indian cities, with international offerings via IFSCA-regulated funds at GIFT City, Gujarat. The firm is led by Kalpen Parekh (MD & CEO), Aditi Kothari Desai (Chairperson), and Anish Tawakley (CIO, appointed April 2026 from ICICI Prudential AMC).

The product suite includes 75-plus mutual fund schemes across equity (large-, mid-, small-cap, flexi-cap, value, quant, sectoral), debt (short-term, corporate bond, banking & PSU, gilt, liquid, floater), hybrid, ELSS tax-saver, index funds, ETFs (Nifty, Gold, Silver, FMCG, sectoral), fixed maturity plans, solution-oriented offerings, domestic and international fund-of-funds, plus AIF Category II and Category III vehicles. Revenue is generated through Total Expense Ratio (TER) fees on AUM, with direct plans (lower TER, excluding distribution commissions) now accounting for an industry-leading 49% of industry AUM versus 45% two years prior. Distribution runs through direct digital (dspim.com, iOS/Android apps with eKYC via Aadhaar, OTP authentication, instant redemption), an IFA/distributor network supported by the IFAXpress portal, fintech partnerships (CRED/Kuvera, Cybrilla/ONDC), and institutional channels. Investor tools include DSP SARTHI risk profiling, NETRA monthly insights, The Navigator quarterly allocation guidance, DSP Converse fixed-income commentary, plus calculators (SIP top-up, SWP, returns, alimony). Back-office and adviser infrastructure is built on CAMS, Kuvera, and ONDC integrations rather than a first-party API product.

Name

DSP Investment Managers

Legal name

DSP Asset Managers Pvt. Ltd.

Website

https://dspim.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

251–500 employees

Short description

DSP Investment Managers (DSP Asset Managers Pvt. Ltd.) is an India-based mutual fund company managing ~₹2.04-2.3 lakh crore in AUM across 75+ schemes, serving 63L+ retail investors and 88K+ distributors through direct digital, IFA, fintech (CRED/Kuvera, Cybrilla/ONDC), and GIFT City international channels.

Ownership category

akta.pro rank

Product category

Mutual Fund Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Sub-Accounting & Platform Servicing (Omnibus, Intermediary/NSCC, Retirement Platforms) (FSAAAMAI)

Keywords

• Mutual fund management
• Asset management services
• Wealth management India
• Portfolio management services
• Investment fund products

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Asset Management Fees (Total Expense Ratio / TER): DSP earns fees as a percentage of Assets Under Management (AUM) through the Total Expense Ratio (TER) charged to mutual fund investors. TER includes base expense ratio, brokerage costs, transaction costs, statutory levies (including GST), and additional expenses as permitted by SEBI regulations. Direct plans have lower TER than regular plans as they exclude distribution commissions.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels12 records

Core offering

DSP Investment Managers is an Indian asset management company that offers 75+ mutual fund schemes across equity, debt, hybrid, ELSS tax-saver, international, domestic fund-of-funds, index, ETF, fixed maturity plan, and solution-oriented categories for individual and institutional investors. The firm earns asset management fees (TER) on a ₹2,04,000 crore AUM base, distributed through its direct digital platform, an 88,000+ distributor/IFA network, fintech partnerships (CRED/Kuvera, ONDC/Cybrilla), and GIFT City international funds. It also operates Category II and III alternative investment funds for qualified investors and serves 63 lakh+ investors across India.

Product overview

DSP Investment Managers operates as a comprehensive mutual fund investment company offering a diversified portfolio of 75+ fund schemes across multiple categories. The product lineup spans equity funds (including large-cap, mid-cap, small-cap, flexi-cap, focused, multi-cap, value, and quant strategies), debt funds (short-term, corporate bond, banking & PSU, gilt, liquid, and floater), hybrid funds (aggressive hybrid, equity savings, multi-asset allocation), tax-saving ELSS, international FoFs (US, global clean energy, gold mining), domestic FoFs, index funds, ETFs (Nifty, gold, sectoral), and solution-oriented schemes. Digital capabilities include SIP calculators, risk profiling tool (DSP Sarthi), mobile app, and interactive factsheets. Research publications (NETRA, The Transcript, The Navigator, DSP Converse) support investment decisions. Recent additions include the DSP Nifty FMCG ETF and ONDC network distribution partnership via Cybrilla.

Differentiator

Problem solved

Functional benefit

Products and services

• DSP Equity Funds Equity-oriented mutual fund schemes including large-cap, mid-cap, small-cap, flexi-cap, focused, multi-cap, value, and quant funds investing in Indian equities for retail and institutional investors.
• DSP Debt Funds Fixed income mutual fund schemes including short-term funds, corporate bond funds, banking & PSU debt funds, gilt funds, liquid funds, and floater funds for conservative and income-seeking investors.
• DSP Hybrid Funds Hybrid mutual fund schemes combining equity and debt investments, including aggressive hybrid funds, equity savings funds, and multi-asset allocation funds for balanced risk-return investors.
• DSP ELSS Tax Saver Fund Equity-linked savings scheme offering tax benefits under Section 80C of the Indian Income Tax Act with a 3-year lock-in period for individual tax-saving investors.
• DSP International Funds Overseas equity fund-of-funds providing exposure to international themes including US equities, global clean energy, gold mining, and world agriculture for Indian investors.
• DSP Domestic Fund of Funds Fund-of-funds investing in other DSP schemes, providing balanced or tactical asset allocation across domestic fund categories for investors seeking one-decision diversified exposure.
• DSP Index Funds Passive index-tracking funds mirroring Nifty 50, Nifty Next 50, Nifty 500, and sectoral indices with low expense ratios for cost-conscious passive investors.
• DSP ETFs Exchange-traded funds including Nifty 50 ETF, Gold ETF, Silver ETF, Bank ETF, Healthcare ETF, and sector-specific ETFs listed on Indian stock exchanges for liquid passive exposure.
• DSP Low Cost Funds Curated selection of DSP schemes with low Total Expense Ratio for cost-sensitive retail investors.
• DSP Fixed Maturity Plans Close-ended debt-oriented schemes with fixed maturity periods providing predictable returns with low interest rate risk for tenure-bound debt investors.
• DSP Investment Solutions Solution-oriented schemes including DSP Indo-US Equity Solution, DSP Short Term Solution, DSP Medium Term Solution, and DSP Long Term Solution for specific investment goal horizons.
• DSP India T.I.G.E.R. Fund Thematic infrastructure fund investing in companies benefiting from India's infrastructure development and modernization for investors seeking infrastructure cycle exposure.
• DSP Healthcare Fund Sectoral equity fund investing in pharmaceutical, healthcare, and healthcare services companies in India for sector-focused investors.
• DSP Banking & Financial Services Fund Sectoral fund focused on the banking and financial services sector including private banks, public banks, insurance, and NBFCs for investors seeking BFSI exposure.
• DSP Quant Fund Quant-based equity fund using systematic quantitative models for stock selection and portfolio construction, managed by DSP's Quantitative Investments and Analytics (QIA) team.
• DSP Nifty FMCG ETF Exchange-traded fund tracking the Nifty FMCG Index comprising 15 key companies in India's essential goods and consumer staples sector, listed on Indian stock exchanges.
• DSP Alternative Investment Funds (Category II & III) SEBI-registered Alternative Investment Fund Category II and Category III products for qualified investors seeking alternatives to traditional mutual fund strategies.

Quantifiable outcome

• DSP India T.I.G.E.R Fund delivered 15.6% gain in 6 months and 25.2% CAGR over 3 years, leading infrastructure sectoral category
• +4 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Aditya Birla Sun Life Asset ManagementminorOthers · 25 May 2026Both DSP and Aditya Birla Sun Life AMCs were mentioned as buying floating-rate corporate bonds and using overnight index swaps to lock in higher yields amidst soaring swap rates, reflecting a common industry strategy among Indian debt fund managers rather than a specific bilateral partnership.
• CRED / KuveracoreChannel Partner/ Reseller/ Distributor · 7 April 2026CRED's Kuvera wealth management platform partnered with DSP to offer curated liquid funds through a new invite-only 'Surplus' feature with Rs 1 lakh minimum investment and up to Rs 4 lakh instant redemption. Kuvera manages Rs 33,000 crore in assets across 3 lakh investors. DSP is one of four AMC partners (alongside ICICI Prudential, Aditya Birla Sun Life, and HDFC) in this product.
• Indian School of Business (ISB)minorStrategic or Co-development Partner · 14 February 2026DSP partnered with ISB for the DSP Scholarship Programme supporting the Post Graduate Programme in Management for Young Leaders (PGP YL). The scholarship offers 100% tuition fee waivers for selected need-cum-merit students. Initially supporting 2 students from current cohort, expanding to 5 students annually from next cycle.
• CybrillacoreTechnology or Integration · 14 July 2025DSP partnered with Cybrilla to become one of the first mutual fund companies to join the Open Network for Digital Commerce (ONDC) in India. The partnership enables decentralized distribution of mutual funds through local entrepreneurs and fintech startups in smaller cities, with DSP covering KYC and payment gateway fees to lower barriers for new distributors.

Scale indicators10 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• HDFC Asset Management: India's largest mutual fund AMC by AUM and a listed peer with a comparable multi-channel product suite (equity, debt, hybrid, ETFs, index, international). DSP competes head-to-head with HDFC AMC for the same retail, HNI and institutional segments and similar distribution depth.
• SBI Mutual Fund: India's largest AMC by AUM, sponsored by State Bank of India, with a comprehensive retail and institutional product lineup. DSP competes directly with SBI MF across active equity, debt, ETFs and passive funds, particularly in the bank-led distribution channel.
• Kotak Mahindra Asset Management: Mid-tier private sector Indian AMC with a comparable product mix across active equity, debt, hybrid and international FoFs. Targets the same retail, HNI and institutional investors via IFA/direct channels that DSP serves.
• UTI Asset Management: One of India's oldest public-sector AMCs with a similarly broad retail-facing product lineup. Comparable to DSP as a mid-to-large multi-channel mutual fund manager competing for the same SIP and lump-sum flows.
• ICICI Prudential Asset Management: One of India's top private-sector AMCs with a similarly broad mutual fund product shelf across active and passive strategies. Notable as the prior employer of DSP's newly appointed CIO Anish Tawakley (as Co-CIO Equities), making it a direct talent and AUM competitor.
• Mirae Asset Investment Managers (India): Indian subsidiary of Korea's Mirae Asset with a comparable product shelf across active equity (large/mid/small cap, sectoral), ETFs and international FoFs. Directly competes for retail SIP flows and distributor mind-share.
• Aditya Birla Sun Life AMC: Top-5 Indian AMC and a directly comparable peer in equity, debt, hybrid and passive products. Cited in DSP's own partnership collateral as co-investing alongside DSP in floating-rate corporate bonds and as a co-tenant on Kuvera's 'Surplus' liquid-fund feature.
• Franklin Templeton India (now Franklin India): India arm of a global asset manager; previously a direct global-brand joint-venture competitor (vs. DSP BlackRock). Operates a similar active-equity and debt fund portfolio targeting retail and HNI investors.
• Axis Asset Management: Mid-tier private-sector Indian AMC with a directly overlapping product suite in active equity, debt and hybrid funds. Competes for the same retail and HNI segments and IFA distribution network as DSP.
• Nippon Life India Asset Management: Listed Indian AMC and direct competitor across retail and institutional mutual fund categories, including passive products (Nippon India ETFs) and international FoFs. Operates a similar IFA distribution model and digital onboarding platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/dspmf
• YouTubeyoutube.com/channel/UC8D0OhZKnAbbFhFP6362tTw
• Facebookfacebook.com/DSPMutualFund
• LinkedInlinkedin.com/company/dspmf
• Instagraminstagram.com/dspmutualfund/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DSP Investment Managers