New Delhi, Feb. 5 -- Asset management companies (AMCs) were among the top picks for many investors during the Indian markets' bull run. But over 10% correction has turned the tide for Indian asset managers. The question now is: Are AMC stocks still a good bet?

Over the past three years, shares of Aditya Birla Sun Life AMC Ltd, Nippon Life India Asset Management Ltd, and HDFC Asset Management Co. Ltd have appreciated between 24% and 66%. Bajaj Finserv Ltd's stock gained only 11%, while UTI Asset Management Co. Ltd climbed 21%.

In comparison, the Nifty 50 gained 33% during the same period.

However, the good show petered out over the past month, with all wealth managers registering 10-25% declines, except for Bajaj Finserv, which has rise...