ALSO READGeojit BNP Paribas Q2 profit grows 10% to Rs 13.7 cr Geojit BNP Paribas profits surge 83% to Rs 14.97cr in Q3 Geojit BNP Paribas Financial Services standalone net profit rises 10.88% in the September 2016 quarter Geojit BNP Paribas Financial Services consolidated net profit rises 10.39% in the September 2016 quarter Geojit BNP Paribas Financial Services to consider December quarter results
BNP Paribas Mutual Fund today said it is aiming to cross Rs 7,000 crore mark in average assets under management (AAUM) by the year-end from around Rs 6,000 crore now.
The fund house is also looking at achieving a growth of 30 per cent in its systemic investment plan (SIP) inflows by the year-end.
"At BNP Paribas Mutual Fund, we crossed AAUM of Rs 5,977 crore as on February 28, and we are looking at achieving a growth of 20 per cent in the AAUM by December. We are hopeful of taking it to Rs 7,000 crore by 2017-end," managing director and chief executive Sharad Sharma told PTI here.
He was speaking on the sidelines of launch of BNP Paribas Balanced Fund.
The open-ended fund, aimed at investors seeking long- term wealth creation through a combination of equity, arbitrage and debt asset classes, opens for subscription on March 17 and closes on March 31. It will reopen on April 7.
Talking about the SIP growth plan at his company, he said, "We are looking at achieving a 30 per cent growth in the SIP, which was currently having a monthly fund flow to the tune of Rs 20 crore with a total folio count at 50,000."
At present, the MF player offers four funds under equity category, seven under fixed income and two hybrid schemes. Besides, it manages USD 1.04 billion through its offshore advisory and discretionary portfolio management for international investors.
The company currently has 11 offices across eight cities, including four metros, and plans to expand its presence.
"We are looking to have our presence in more cities like Gurugram, Lucknow, Kanpur, Chandigarh and Jaipur, and also in Goa by December," Sharma said, adding, "We will also tap digital route to achieve the growth.