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Mirae Asset enters PE, investment banking and broking biz

Press Trust of India  |  Mumbai 

As part of ramping up its presence in the country, Asset Global today said it is entering into (PE), investment and broking businesses.

"We believe 2018 is going to be a landmark year for our organization as we are scouting for private venture/equity in and setting up investment and broking business through Asset Capital Market Pvt Ltd," Asset Global (India) Swarup Mohanty told reporters here.

Asset will launch a short-term fund in February 2018. For the remaining part of the year, they will launch hybrid funds like equity savings fund and an arbitrage fund. "We are also looking at launching (ETFs) in 2018," Mohanty said.

Elaborating future plans in the country he added, it is also expected to apply to for an AIF in Q2 2018, which will invest in private debt across the credit opportunities spectrum, mostly focusing on higher grade projects or entities as well as undertake venture debt investments, which is an emerging opportunity, he added.

The mutual fund has completed over nine years in and its AUM crossed 15,000 crore as on January 10, a growth of more than 100 per cent this calendar year.

Asset has also witnessed a significant surge in the number of new clients with the investor folios crossing 800,000, including close to 470,000 SIP investors, it said.

The SIP flows have also grown from 29 crore in March'16 to monthly inflows of 200 crore in December'17.

Asset (India) also provides Advisory Services to Hong Kong office for equity and office for both equity and debt

Last year Asset along with Asset HK office successfully launched offshore fund Asset Midcap Equity Fund, which has gathered USD 450 million in assets in December 2017.

Commenting on the equity outlook, Asset equities said, the Indian equity markets are reasonably priced. The have made an investment of 2 lakh crore in 2017 and buoyancy may continue in 2018.

Asset Global (India) is a wholly-owned subsidiary of the Asset Financial Group headquartered in South Korea, which has business interest in life insurance, securities and investment and across the world.

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

First Published: Thu, January 11 2018. 17:55 IST