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

Press Trust of India  |  Hyderabad 

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

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 '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 and Rs 3,000 crore plus comes from the institutional investors.

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

To a query on the companys plans to launch more funds, "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."

Bishnoi said that (MMF) planned to sell its products from 500 cities and towns across the country in the next one year as against 350 cities now.

'Mahindra Pragati Bluechip Yojana' is for investors seeking long-term capital appreciation and growth opportunities by investing in a portfolio constituted of predominantly equity and related securities, including derivatives of large cap

The New Fund Offer opens on February 22 and closes on March 8.

The scheme will reopen for continuous sale and repurchase within five business days from the date of allotment.

is the investment manager for

It is a wholly-owned subsidiary of Mahindra and Mahindra Financial Services Ltd.

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

First Published: Wed, February 13 2019. 19:41 IST