Birla Sun Life Asset Management Company (AMC) aims to build its size across categories in the current fiscal, a top company executive said today.
The fourth largest fund house in the country, with an average assets under management at Rs 1.68 trillion as on August, has already consolidated nine funds under categories like equity and fixed income in the last fiscal.
“We have already consolidated nine funds falling under categories like equity and fixed income in the last fiscal. Now our aim is to build size,” Birla Sun Life Asset Management Company CEO A Balasubramanian said today.
The executive was speaking on the sidelines of the launch of FinGo Partner -a distributor centric mobile application.
Balasubramanian claimed that the company has already gained leadership position in terms of front-line equity fund.
“We have chalked out a strategy to achieve leadership in other categories like multi-cap, balanced fund, fixed income and medium term funds over next few months”, he added.
“Currently we are the largest in the large-cap category. Against the industry size of Rs 1 trillion, BSL AMC was having a size of Rs 14,000 crore under the category,” Balasubramanian said.
The company is having two major products falling under the multi-cap category, including Equity and Advantage funds.
“In the multi-cap category, the industry size of which was currently at Rs 1.7 trillion, we have already achieved the size of Rs 8,000 crore so far. We are looking at making it to Rs 20,000 crore in the next one-and-a-half years,” he said.
In the Balanced Fund category with an industry size of Rs 35,000 crore, the company is having a product – Balance 95.
“Our Balanced Fund category was currently sized at Rs 4,000 crore and we want to take it to Rs 10,000 crore by the fiscal-end,” the CEO said.
“We are targeting to offer long-term debt products to the investors at a time when the interest rate on Fixed Deposits are falling,” Balasubramanian added.
Under its retail fund segment known as Medium Term Plan, the firm is mulling to increase its AUM from currently existing Rs 6,500 crore to Rs 12,000 crore by fiscal-end, the CEO added.
The company has a Dynamic Bond fund under the long-term debt products category which is having the industry size of Rs 70,000 crore. “We have an AUM of Rs 14,000 crore in the said category and want it to take it to Rs 20,000 crore by June,” said.