DSP BlackRock expects AUM of Rs 45,000 cr by year-end

DSP BlackRock Investment Managers plans to increase its total assets under management (AUM) from the existing Rs 35,437 crore to around Rs 45,000 crore by the end of the current fiscal, a senior official said today.
The company, which considers calendar year as its fiscal year too, has lined up two products - fund of fund (FoF) and a domestic equity fund - for launch in near future. DSP BlackRock is among a few mutual fund houses in the country which are purely into asset management.
"We have plans to increase the company's AUM from the existing Rs 35,437 crore to around Rs 45,000 crore by the end of the current fiscal.

"We are betting high on the forthcoming launch of our two products - a fund of fund under healthcare category and the other in domestic equity space," DSP BlackRock Investment Managers Executive Vice-President Ajit Menon told PTI on the sidelines of launch of a portal for independent financial advisors here.
At present, the company has got 30 products in its bouquet of offerings. Its equity AUM was currently at Rs 13,436 crore out of its total AUM of Rs 35,437 crore.
DSP BlackRock runs global equity funds in segments like gold, mining, energy, agriculture and it recently got global equity allocation fund as well. Its AUM in FoF currently stands at Rs 457 crore.

The company sees depreciation in rupee against US dollar as an opportunity for investors of FoF, which mostly comprise high networth individuals. RBI's reference rate for USD was Rs 63.88 today.
There has been a rise in redemptions in the FoF segment as investors took out Rs 58 crore from such funds in May and Rs 54 crore in April this year. However, the company sees it as an opportunity.
"We believe redemption is good in that the investors have got their returns and indicates they are able to re-balance their portfolio," he said.