Birla Sun Life Mutual Fund aims to garner around Rs 6,000 crore of equity assets in the next financial year, an increase of 40 per cent from the current level, to raise the overall pie of this segment.
With Rs 90,000 crore of average assets under management (AUM), Birla Sun Life is the fourth largest fund house with an equity asset of over Rs 12,000 crore as of now. This makes it the seventh largest MF in terms of equity base.“We have seen net inflows of around Rs 600 crore in equities from April till date...we want to cross $1 billion-mark (Rs 6,000 crore) under this asset base by next fiscal,” Birla Sun Life MF Chief Executive A Balasubramanian told PTI.
Referring to the steps taken up by Birla Sun Life to expand asset base, Balasubramanian said: “We are stepping up our efforts with more distribution engagement...our focus is also to increase penetration in B-15 markets.”He said the private MF house is looking at increasing the equity investor base by turning inactive folios into active ones. The fund house is also opening zero account folios of investors who can invest in MF schemes in future.
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