Baroda Pioneer MF hopeful of sustaining momentum in 2014

After crossing Rs 10,000 crore of assets under management, Baroda Pioneer Mutual Fund hopes to sustain the momentum in the current year, with traction seen in equity space in terms of new investor addition, a top company official said.
"As a fund house, we have done reasonably well in 2013. We have crossed Rs 10,000 crore of AUM. We have seen traction in equity in terms of folios, we have also seen traction in new investors coming in...," Managing Director of Baroda Pioneer Mutual Fund, Jaideep Bhattacharya told PTI in an interaction here.
He also said the fund house is tapping into the vast network of SMEs and has seen increase in investment of these entities in short-term debt and money market products of the fund house.

Bhattacharya, who is hopeful of sustaining the momentum in the current year, also said the fund house will focus on profitable growth in the current year.
"In this market, we need scale. If margins are low, we need volume. So, we will focus on profitable growth," he said.
On the new product launch, Bhattacharya said, "We are planning to come up with some equity and some debt products in 2014. We have filed for two debt products. On the equity side, we have not yet decided," he said adding the company would like to scale up its existing equity products this year.

The fund house, which has increased its market share to around 0.82 per cent in January 2014 from 0.58 per cent reported a year earlier, is optimistic about achieving profitability with a little bit of buoyancy in the market.
Baroda Pioneer Mutual Fund is a joint venture between public sector lender, Bank of Baroda and Pioneer Investments.