Shriram AMC to launch two new schemes in current fiscal

Shriram Asset Management Company is in the process of launching two new schemes - one pure equity and another a hybrid plan with a high debt orientation - during the current financial year.
"Shriram Mutual Fund is positioning itself as one of the unique entities in today's competitive space by introducing innovative products and widening the product suit our growing number of customers," Shriram AMC marketing head D Ramanathan said in a statement here.
"We are working on launching two new schemes - pure equity scheme and a hybrid scheme with a high debt orientation
- during the financial year," he added.

The company's maiden offering - Shriram Equity & Debt Opportunities Fund - an open-ended equity-oriented asset allocation fund, has delivered 15.91 per cent returns since its inception. The fund has declared two dividends in less than a year of launch.
In the recent sharp market correction, the scheme has managed the downside risk exceedingly well and demonstrated consistent performance, the statement said.
Shriram AMC plans to grow the mutual fund business and attain leadership in the next 5-7 years. It recently infused Rs 10 crore capital in the business and proposes to add another Rs 30 crore in the coming one year, it added.