Mirae aims at Rs 5,000-cr AUM by Dec; to rejig offshore plan

Mirae Asset Global Investments (India) is looking at increasing its assets under management to Rs 5,000 crore by December from Rs 3,050 crore as of now.
Moreover, the Korean fund house is all set to rejig its India China Fund for which it has already got approval from market regulator Sebi.
"The company is looking at increasing its assets under management (AUM) from Rs 3,050 crore at present to Rs 5,000 crore by December. Our net sales per month are to the tune of Rs 100 crore (including Rs 25 crore via SIPs) for the past one year," Mirae Asset Chief Executive Officer Jisang Yoo said.

"The same trend is likely to continue in future too and hence taking the company's AUM to Rs 5,000 crore by December will not be difficult to achieve," he added.
The fund house has an offshore scheme India China Fund, which currently has a size of Rs 50 crore. It invests 70 per cent of its AUM in India and the remaining in China. The MF player is all set to rejig the fund and make the China portion available for entire Asia in future.
"We have already got a Sebi approval to rejig India China Fund. Once it happened so, the fund will also be able to invest in other countries of Asia like Indonesia, Korea and Taiwan. We are likely to launch the fund after completing fundamental feature change in it within a month or two," he said.

The company is looking for launching a fixed income (FI) fund in future. "We are planning to launch a FI fund. However, we are waiting for right time for the launch of the fund," he said.