Mirae Asset crosses ₹1 trillion in assets under management

According to the asset management company, in the last five-and-a-half years, the growth of AUM has been around 10 times.

The investor folios of Mirae Asset Mutual Fund also crossed 4.37 million with around 1.54 million Systematic Investor Scheme (SIP) investors. SIP inflows have also increased significantly and increased ₹796 crores in September 2021.

Swarup Mohanty, CEO, Mirae Asset said, “The increase in SIP inflows is the most significant achievement, as SIP is a forward call on an organization by both advisors and investors. It is our endeavor to provide a seamless investment experience to our investors. and help them in their wealth building journey. AMC is building a future growth strategy with a focus on equity as well as fixed income and passive offerings, where it has already established a strong foothold.”

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Mirae Asset currently manages eight Equity Funds (AUM of .) ₹84,281 crores), three hybrid funds (AUM of . ₹7,211 crore), nine open ended debt funds (AUM of .) ₹7,146 crore), six Exchange Traded Fund (ETF) and 4 Fund of Funds (FOF) Schemes (AUM) ₹2,568 crore).

“When we restricted investment in Mirae Asset Emerging Bluechip ₹25,000 per investor in 2016 it was reasonable ₹2,600 crores. Despite the ban, it’s up ₹21,000 crores at present. As a responsible manufacturer we will signal to the market when we feel there is reason to exercise caution, as we are doing now,” Mohanty said.

Mirae Asset Group has also expanded its footprint into 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.

With reference to asset management companies, SBI Funds Management Pvt. Ltd is the largest fund house in India with AUM ₹6.10 trillion (as on 30 September), followed by ICICI Prudential Asset Management Company Limited ₹4.67 Trillion and HDFC Asset Management Company Limited ₹4.41 trillion as per a report by IDBI Capital Markets Securities Ltd.