Fund
houses are pinning their hopes on the Systemic Investment Plans
(SIPs) for business growth this fiscal and expect an uptick of up to
20 per cent in overall assets under management. Total AUM (assets
under management) of the industry with 43 players at present is Rs 15
trillion and SIPs valued at Rs 4,000 crore are being added to the
industry every month. The industry has added 25 lakh SIPs during past
one year alone. In terms of value, SIPs have grown by 33 per cent
during past one year alone in terms of value. SIPs worth Rs 4,000
crore are being added to the industry on a monthly basis currently,
from Rs 3,000 crore a year ago. "The MF industry will grow at 20
per cent during the current fiscal and we are relying on SIPs for
achieving the target," D P Singh, executive director and chief
marketing officer of SBI Mutual Fund, told PTI here on the sidelines
of a Café Mutual event today. He said SBI MF also expects a similar
growth on the back of the increased investor interest in SIPs. With a
total AUM of Rs 1.37 trillion, his company is the fifth largest fund
house in the country. "We are hopeful of crossing the AUM of Rs
1.5 trillion from Rs 1.37 trillion at present by the fiscal-end,"
Singh added. As of now, SBI MF was having a total of 50 lakh folios
which is expected to increase to 55 lakh by the fiscal-end. The
company was having 15 lakh SIPs at present, which was likely to go up
to 18 lakh by March. In terms of value, the company was looking at
the size of SIP to grow to Rs 400 crore from Rs 370 crore at present,
by the fiscal-end, Singh said. "We are trying to reach our
investors through our 12,000 distributors which are responsible for
85 per cent of the company's business," Singh said, adding, "we
are imparting training to distributors telling them how to increase
business."
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