Birla Sun Life MF aims for 40% rise in AUM in FY10

Birla Sun Life Mutual Fund expects to see a 40 per cent increase in its assets under management (AUM) in the current financial year. In FY09, the company saw a 46 per cent rise in its AUM to Rs 47,096 crore. “I am giving a very conservative number right now, but this is what we expect we will achieve this fiscal.

There is a huge scope for the mutual fund industry because currently only 4 per cent of the household savings are coming into the industry,” says Birla Sun Life Mutual Fund Chief Executive Officer A Balasubramaniam.