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Edelweiss AMC on the look out for acquisitions

IANS  |  Chennai 

is open to acquire good and would certainly look at if it comes up for sale, said a top

Remarking that collections during March are better than February when the markets were volatile, she said mop-up under the systematic investment plans is also good.

"We will look at for acquisition if we feel it as an apt fit. The has not issued any request for proposal (RfP) for selling its business. Any is good for acquisition," Radhika Gupta, Chief Executive Officer, Edelweiss Asset Management, told IANS on Friday.

With the of (LIC) acquiring 51 per cent stake, has announced rationalisation of common subsidiaries in the sector.

Edelweiss had earlier acquired JP Morgan's business and Ambit Capital's alternative investment fund business.

Gupta in 2018 said it was a year of investment in business for the company that included digital platform revamp and widening its network.

Agreeing that MF players or their tell investors to put in more money irrespective of the fact that the market being on the upswing or downswing, she said the company would soon come out with a tool to help investors time their partial exit.

"We want to grow the business in a steady manner. The MF business is profitable, though people talk about consolidation happening in the sector," Gupta said.

According to her, the fund house will soon come out with debit exchange traded fund (ETF). Edelweiss won the central government's mandate for managing public sector debt securities.

"Most Indian investors have the fixed deposit mentality. Thus, the PSU-backed ETF will provide the comfort level to such investors whose number is quite large," Gupta said.

On the Overnight Fund, she said: "We got the SEBI (Securities and Exchange Board of India) approval for that, but are not sure when we will launch that."

When asked about cash holding by the fund house, she said: "We don't believe in holding cash in hand to time the market, which is difficult. All the cash has been invested. We don't like sectoral funds."



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, March 23 2019. 15:54 IST