'Mahindra AMC aims to launch four-five new products next

: Mahindra Asset Management Company plans to launch four-five new schemes/products in the next financial year, its Managing Director and CEO, Ashutosh Bishnoi said here Wednesday.

Mahindra AMC, which started operations in July 2016, has Assets Under Management (AUM) of Rs 5,000 crore (as on January 2019) from eight schemes and announced launch of a new open ended equity scheme 'Mahindra Pragati Bluechip Yojana'.

"This will be our ninth product that we are launching.

We touched Assets Under Management of Rs 5,000 crore last month and out of it about Rs 1,800 crore is retail money and Rs 3,000 crore plus comes from the institutional investors.

We are hoping to change that equation," Bishnoi told reporters here.

To a query on the companys plans to launch more funds, Bishnoi "You should see four to five new products in the next financial year.

Focus is going to be in small markets. We think couple of more equity funds...couple of more debt funds and we are looking at a corporate bond fund."