Edelweiss aims 200-250% growth in AUM by FY'19

Edelweiss Mutual Fund is aiming at doubling the size of its assets under management (AUM) to Rs 25,000-30,000 crore by FY'19, a top official has said.

The company is also looking at organic growth by creating value propositions for investors with cutting-edge products that would be market leaders in their respective categories.

"Last month, our AUM crossed Rs 10,000 crore. By the end of the current fiscal, it will be around Rs 12,000-13,000 crore and the same will be between Rs 25,000-30,000 crore by FY'19," the CEO of Edelweiss Asset Management Company (AMC), Radhika Gupta, told PTI.

As of March 2017, the AUM for Edelweiss was Rs 6,000 crore including the assets of JP Morgan AMC which it acquired in 2016.

"Inorganic growth will remain a 'possibility' but now onwards, the bulk of growth will come organically," Gupta said.

The Edelweiss Financial Services-sponsored Edelweiss AMC said it is building a strong organisation and will follow a strategic leadership in 'few' categories in hybrid, equity, fixed income and will come out with innovative products.

"Innovation lab is already in place for the last few months," she said.

Edelweiss is expected to come out with its maiden 'opportunity fund' in line with the mutual fund industry trend.

Reacting to market regulator SEBI's directive to fund houses for classifying their schemes under five broad categories, Gupta said Edelweiss believes in simplicity and supports the endeavour.

"However, we are not impacted as our number of schemes are well within the limits," she said.

SEBI has asked mutual fund houses to classify their schemes under five broad categories to cut through the complex clutter of schemes for easier understanding of investors.