Mahinda MF hopes AUMs to hit Rs 7,000 crore
Mr Bishnoi added, “Of Rs 4,500 crore, the assets under management in the four retail equity-realted MF schemes touch about Rs 1,500 crore.â€
Hyderabad: Mahindra Mutual Fund, which plans to foray into 100 tier IV and V cities in FY19, hopes to see its assets under management rise to about Rs 7,000 crore, according to top official here on Monday.
Speaking to the media at the launch of their seventh scheme, Mahindra AMC managing director and CEO Ashutosh Bishnoi said, “As of June end, the total assets under management for the company stood at Rs 4,500 crore. By FY19 end, we expect AUM to grow to about Rs 6,500-Rs 7,000 crore.”
Mr Bishnoi added, “Of Rs 4,500 crore, the assets under management in the four retail equity-realted MF schemes touch about Rs 1,500 crore.”
When asked how the company intends to reach its ambition, he said, “The 2-year-old company, which currently has 55 officies and a staff count of 160 people, is available in over 400 cities. We hope to foray into another 100 tier IV and V cities.”
The ‘Mahindra Credit Risk Yojana’ is specifically created to cater to to the demand of smaller towns who are willing to risk a bit more to avail higher profits than a fixed deposit.