Bhubaneswar: Mirae Asset, a leading mutual fund investment company in India, expects to build its Assets Under Management (AUM) in the state to Rs 400 crore by December 2019.
“We managed assets for Rs 250 crore in calendar year 2018 and expect to build our AUM to Rs 400 crore by end of calendar year 2019. It will be about 50 per cent growth from previous year,” Swarup Mohanty, the CEO of Mirae Asset MF, told reporters here Friday.
Swarup added that of the Rs 250 crore, the company had been managing Rs210 crore in equities and Rs 40 crore in debt. At present, the company has about 16,000 investors across the state and expects to expand this base in the current calendar year.
Mirae’s AUM stood at Rs 27,000 crore as on March 31, 2019, nationally. “In December 2018, the company’s AUM stood at Rs 23,000 crore; it grew to Rs 27,000 crore in three months. The growth gives us hope that the number will reach Rs40,000 crore by December 2019,” Swarup said.
The company witnessed a significant surge in the number of investor folios with more than 13.9 lakh folios (including more than 6.9 lakh SIP investors) as on March 31, 2019.
The CEO claimed that SIP flows in India have grown significantly from Rs 29 crore in March ‘16 to monthly inflows of Rs 300 crore in March ‘19.
Mirae Asset MF also plans to add a scheme, Mirae Asset Focused Fund, to their basket. The open-ended equity scheme allows investment in up to 30 stocks, including large cap, mid cap and small cap categories. According to Mirae, the fund aims to build a portfolio of strong growth companies, reflecting the most attractive investment ideas.
“The New Fund Offer will be open from April 23 to May 7. It allows the flexibility to invest across large caps, mid caps and small caps, and across sectors. The new offering will help us increase equity offering and enlarge our investor base,” Swarup added.