Mirae Asset eyes growth in AUM to Rs 3,000 crore by year end

Mutual fund house Mirae Asset Global Investments (India) Pvt Ltd today said it is looking at increasing its total assets under management (AUM) from Rs 2,100 crore currently to Rs 3,000 crore by December-end.
Mirae Asset, a wholly-owned subsidiary of South Korea-based Mirae Asset Global Investments, has eight funds in its bouquet of offering.
The fund house also has plans to reposition some of its already existing fund to achieve the projected target.
"Our total AUM is currently at Rs 2,100 crore and we are looking at taking it to Rs 3,000 crore by December. We are planning to launch two equity funds during the current year, which includes one fund under ELSS category," Mirae Asset Global Investments (India) Pvt Ltd Chief Executive Jisang Yoo told reporters here today.

"While Rs 2,000 crore out of Rs 2,100 crore of total AUM is contributed by equity funds alone, remaining Rs 100 crore has been contributed by fixed income (FI). We are looking at increasing Rs 100 crore in FI to Rs 500 crore by December," he said.
He was talking on the sidelines of launch of Mirae Asset Prudence Fund (MAPF), an open-ended equity-oriented asset allocation scheme whose new fund offer opens on July 08 to close on July 22.
The company, which is currently positioned 22nd among 45 MF houses in the country in terms of AUM, has got India China Consumption Fund, which currently invests in the stock markets of the two countries only.

"We have applied before the market regulator SEBI for allowing us to reposition some of our existing products," he said.