Mr RK Madhukar, who has just taken over as the executive director of Canbank Investment Management Service Ltd (CIMS), the asset management company of Canbank Mutual Fund, said the AMC is also planninbg to tie up with either the NSE or the Inter-Connected Stock Exchange (ISCE) for the distribution of the AMC's schemes.

Speaking to The Financial Express, Mr Madhukar said, ``We have held talks with them (NSE, ISCE) for distribution of our products.''About the new schemes to be launched by the AMC, Mr Madhukar said, ``The draft prospectus of Can Liquid and Can Regular schemes to be launched by the asset management company has been sent to Sebi and is awaiting clearance.''Can Regular, an income scheme, would be investing 85 per cent in debt and money market instruments and not more than 15 per cent in equities. The scheme would have four plans: monthly plan, quarterly plan, half-yearly plan and growth plan. The minimum amount to be invested in the monthly plan is Rs 25,000, the minimum amount for growth plan is Rs 5,000, while the minimum amount for the quarterly and half yearly plan is Rs 10,000.

During September and October, the mutual fund had opened seven Investor Service Centres (ISC) at its subsidiary handling the house finance business. It plans to add two more to its list. Says Mr Madhukar, ``We want to establish synergies between subsidiaries of the group.''

Canbank Investment Management Service (CIMS) has also drawn up a `Vision Plan' for 2005. It plans to launch children's growth fund, pharma fund, offshore fund and pension fund by 2005.

Says Mr Madhukar, ``We expect the industry to grow to a size of Rs 3 lakh crore by 2005 and hope to grow our asset size to atleast Rs 3,000 crore by then.''

After the CanStar controversy, the AMC had maintained a low profile for nearly a year and was engaged in restructuring and re-engineering the organisation, he said and added that they want to re-emerge. The AMC has also been restructuring its portfolio and strengthening its marketing network. It is also recruiting people on marketing and research departments. Says Mr Madhukar, ``We are also re-establishing its contacts with the agents and distributors. We feel it is time to take on the market.''

The AMC currently has a investor base of 5 lakh. The asset base of the domestic schemes managed by it is around Rs 800 crore. Its offshore fund, Indo-US Himalayan Fund, has assets worth Rs 650-700 crore under management. Mr Madhukar is currently the deputy general manager of Canara Bank and is on secondment as executive director to CIMS.