The seventh largest asset management company in India in terms of mutual fund QAAUM as of September 30, 2019, according to CRISIL. With more than 11 million Live Folios as of September 30, 2019, client base accounts for 12.8% of the approximately 86 million folios that, according to CRISIL, managed by the Indian mutual fund industry. For purposes of the SEBI Mutual Fund Regulations, sponsors are the State Bank of India (“SBI”), Life Insurance Corporation of India (“LIC”), Punjab National Bank (“PNB”) and Bank of Baroda (“BOB”) (collectively, the “Sponsors”), each of which has the Government of India as a majority shareholder. T. Rowe Price Group, Inc., a global asset management company, is other major shareholder (through its subsidiary T. Rowe Price International Ltd. (“TRP”)).