Baroda Pioneer AMC eyes slot in top order

Asset management firm Baroda Pioneer on Thursday said it aims to be among the top 15 fund houses in the country over the next few years.

The mutual fund has announced a five-year plan wherein it will focus on building a stronger investment platform with aim to have better performance, innovative products, a strategic expansion of sales force by 100 per cent, the fund house said in a statement. It also plans to expand its presence by leveraging its promoter Bank of Baroda's distribution network.

"Our assets have grown to over Rs 4,000 crore in the last three years. However, the time is now ripe to pursue an aggressive growth strategy.

"Through our wide network of over 3,900 branches, combined with the global expertise of our joint venture partner Pioneer Investments, we are committed to providing our customer base a broad range of investment products and solutions to meet their financial goals and needs," Bank of Baroda CMD M D Mallya said. He added, "Our joint aim is to be amongst the top 15 asset management companies in India over the next few years." The fund house operates in over 31 cities in India and plans to expand to Tier II and Tier III cities, where the people are likely to invest their savings in a mutual fund scheme.