Announcing the launch of two new schemes, Sundaram Mutual Fund on Thursday spelt out its plans to grow its AUM (asset under management) size, ramp up of branches and leveraging the network of the Sundaram Finance group.
“We have been recording rapid growth. Our present AUM is about Rs.22,000 crore. We hope we can achieve this year’s target of Rs.25,000 crore. We also hope that we are on track to grow the AUM size to about Rs.40,000crore in the next three years,” said Sundaram Asset Management Company Managing Director Harsha Viji.
It will increase the number of branches to 100 soon, while the company has already started leveraging the 600-odd branch network of Sundaram Finance and its group firms.
Earlier, elaborating on two new schemes, Sunil Subramaniam, Deputy CEO, Sundaram Mutul Fund, said Sundaram Top 100 (Series IV) would be a three-year closed-end equity scheme, while Sundaram Long Term Tax Advantage Fund (Series-1) is a 10-year closed end ELSS (Equity Linked Savings Scheme). The former scheme is a large and mid-cap fund, while the latter is a multi-cap fund. Both funds will open on December end. However, Sundaram Top 100 fund will close on January 16, 2015, while Sundaram Long Term Tax Advantage scheme will close on March 20, 2015.
