Canara Robeco Mutual Fund crosses 10,000 crore mark

Canara Robeco Asset Management Company Ltd (JV between Canara Bank and Robeco, an 80-year old Rabobank entity and an asset management specialist), one of India’s fastest growing asset management companies today announced that its assets under management (AUM) had crossed the Rs. 10,000 crore mark as on January 08, 2010, thus registering a growth of over 370% in its AUM since September 2007 when the JV was formalised.

The formidable local strengths and reach of Canara Bank alongwith Robeco’s fund management expertise of over 80 years in asset management, has resulted in innovative investment solutions for its investors. Canara Robeco AMC prides itself on being a quality fund house that strives to deliver value to all its stakeholders.

The growth in the AUM can be attributed to the consistent top quartile performance of its equity and fixed income funds across categories as well as the growing acceptance of Canara Robeco products amongst distributors and investors.

Commenting on this growth, Mr. Rajnish Narula, Chief Executive Officer, Canara Robeco Asset Management said, “We consider the Rs. 10,000 crore AUM mark a significant milestone in our journey as part of the Indian Mutual Fund industry. This achievement is more creditable as it has been accomplished at a time which witnessed a fair degree of volatility in the Indian markets and therefore crossing this milestone in such challenging market conditions speaks volumes about the trust reposed in us by our investors and distributors. We will continue to invest significantly into our business and look forward to launching world class investment products in the near future to augment our growth".

About Canara Robeco Asset Management Company Ltd.
Canara Robeco is a JV between Canara Bank, a 100-year old premier bank in India and Robeco, an 80-year old Rabobank entity and an asset management specialist. It is one of the fastest Growing Asset Managers in India, clocking 97% growth year-on-year in AuM (December 2009 over December 2008). It is the Lipper’s Bond Fund House of the Year for 2008 in India. Canara Robeco has an experienced fund management team with over 75 years of experience amongst them in Equities and Fixed Income.