NEW DELHI : Mirae Asset Investment Managers (India) Pvt. Ltd on Wednesday said it has crossed the important threshold of ₹1 trillion (as on 14 October) in assets under management (AUM). Mirae Asset began its journey in India in 2008.
As per the asset management company, the growth in AUM over the last five-and-a-half years has been around 10 times.
Mirae Asset Mutual Fund’s investor folios count also crossed 4.37 million with close to 1.54 million systematic investor plan (SIP) investors. The SIP flows have also grown significantly and have grown to ₹796 crore in September 2021.
Swarup Mohanty, chief executive officer, Mirae Asset, said, “The growth in SIP flows is the most significant achievement, as the SIP is a forward call on an organization by both advisers and investors. It is our endeavour to provide smooth investment experience for our investors and help them in their wealth creation journey. The AMC is charting the future growth strategy with focus on fixed income and passive offerings, along with equity where it has already created a strong foothold. "
Mirae Asset currently manages eight equity funds (AUM of ₹84,281 crore), three hybrid Funds (AUM of ₹7,211 crore), nine open ended debt funds (AUM of ₹7,146 crore), six exchange-traded funds (ETFs) and 4 fund of fund (FoF) schemes (AUM of ₹2,568 crore).
"When we restricted investments in Mirae Asset Emerging Bluechip to ₹25,000 per investor in 2016 it was just ₹2,600 crore. Despite the restriction, it has grown to above ₹21,000 crore at present. As a responsible manufacturer we will signal to the market when we think there is reason for caution, as we are doing now," said Mohanty.
Mirae Asset Group has also increased footprints in other financial verticals—broking, lending (NBFC), private equity, real estate and alternative product space and the firm continues to expand its product offering across asset classes.
In terms of asset management companies, SBI Funds Management Pvt. Ltd is the biggest fund house in India with an AUM of ₹6.10 trillion (as of 30 September), followed by ICICI Prudential Asset Management Co. Ltd at ₹4.67 trillion and HDFC Asset Management Co. Ltd ₹4.41 trillion, according to a report by IDBI Capital Markets Securities Ltd.
