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Kotak Mahindra AMC looks at increasing market share

As of now, the company's total assets under management stands at Rs 87,000 crore in mutual fund and Rs 1,400 crore in portfolio management services in addition to it.

January 19, 2017 / 09:19 AM IST
 
 
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Country's seventh largest fund house, Kotak Mahindra Asset Management Company is looking at increasing its market share so as to join the top six fund houses' club over next three years.

The company has kept its option open for both, organic and inorganic as well to achieve its goal.

As of now, the company's total assets under management stands at Rs 87,000 crore in mutual fund and Rs 1,400 crore in portfolio management services in addition to it.

At present, the top six fund houses include four private sector fund houses Reliance, Birla Sun Life, HDFC, and ICICI Pru and two fund houses being run by state-owned companies like SBI and UTI.

"Going forward, our focus will be to increase our market share and we will keep our AUM increasing over a period of time in future," Kotak MF managing director, Nilesh Shah told PTI here today.

Kotak MF has improved two notches within past one-and half-years to become the seventh largest player in MF space in terms of AUM.

"Our market share has increased from 3 per cent one and half years ago to 4.5 per cent as of now and we have improved our position by two notches surpassing two fund houses like IDFC and Franklin Templeton during this period to become the seventh largest fund house in the country," Kotak MF's chief investment officer (debt) and head products Lakshmi Iyer said.

"Now we are targeting to increase the company's market share by more than 1 per cent so as to become sixth largest fund house over next 2-3 years and we are open for either of the options available before us like organic and inorganic to achieve the goal," she said.

However, she didn't disclose anything further on the topic. The company had acquired the schemes of PineBridge MF around three years ago.

The company has filed for two new products -- Dynamic Equity and Arbitrage Plus -- which are pending with the market regulator for 15 months now.

Talking about systematic investment plan of his company, Shah said as of now Kotak MF was having 3.5 lakh SIP folios under its fold.

He said the company has seen the capital inflow of Rs 15,000-18,000 crore post-demonetisation which was declared by the government on November 8. PTI KD RMT .

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