L&T MF eyes 15-20% growth this fiscal

L&T Mutual Fund is hopeful of achieving a growth rate of 15-20 per cent in the current financial year and aims to be in the top 10 league in coming years.
"Our desire is to grow more than the industry. A 15-20 per cent growth would be a good number this fiscal," chief executive Ashu Suyash told PTI.
The fund house has an average assets under management of Rs 18,255 crore by the end of last fiscal, which is a growth of 63 per cent over the same period previous fiscal.
"Our growth over the last financial year was very satisfying. It has been a fairly tough year for the industry. Markets have been volatile and growth has been subdued. However, while the industry grew only 11 per cent, we grew 63 per cent," Suyash said.

The company, which acquired Fidelity MF India's assets around 18 months back, also aims to be in top 10 league in the coming years.
"Our desire is to be among top 10. It will take time, probably two-three years from this fiscal...," she said.
On the profitability, Suyash said the company has achieved operating break-even and would post profit in FY14.
She also said the fund house may look at launching a global fund in this financial year as it has none in its product portfolio as of now.