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BNP Paribas Asset Management sees over 20% growth this fiscal

Press Trust of India  |  New Delhi 

Asset Management expects to grow beyond industry average with over 20 per cent increase in its business for the current fiscal.

"We should be able to do better than the industry. We should be growing over 20 per cent even though the industry is expected to grow by about 15-20 per cent this fiscal," Anand Shah, Deputy CEO and Chief Investment Officer, Asset Management said here.

Company's total average assets under management (AUM) currently stands at Rs 5,977 crore.

"We are seeing that the investment trend is moving towards financial savings from physical assets earlier. After deposit rates have come off and that makes it much attractive," Shah said.

People are now looking for avenues where there is little bit of risk but rate of returns are high, he added.

The company has announced the launch of Balanced Fund, an open ended fund aimed at long term investors.

The product launch is part of company's plan to diversify its portfolio mix.

The Balanced Fund is company's 14th fund in It has a mix of equity, arbitrage and debt asset classes which are available for subscription from March 17.

It would have about 30-60 per cent exposure in equity and equity related instruments, 5-10 per cent in equity arbitrage and 30-60 per cent in debt, money market instruments and liquid funds.

"We aim to have a portfolio construct with a large cap bias and targeted small and mid-caps exposure. This strategy for this fund could be considered by conservative investors seeking limited exposure to equities," Kartikraj Lakshmanan, Senior Equities Fund Manager, Mutual Fund said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 20 2017. 16:57 IST