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Birla Sun Life sees AUM grow to Rs40,000 cr in 2007-08

Birla Sun Life sees AUM grow to Rs40,000 cr in 2007-08
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First Published: Thu, Sep 20 2007. 04 20 PM IST
Updated: Thu, Sep 20 2007. 04 20 PM IST
PTI
Chandigarh: Birla Sun Life Asset Management Company (BSL) today said it expects to handle Rs40,000 crore as assets under management (AUM) this fiscal and aims to double its investor base.
“We anticipate our AUM to grow to Rs40,000 crore this year as against Rs27,000 crore as of 31 August 2007 because of growing response to our schemes,” BSL Head, (Institutional Sales), Sarb Preet Singh told reporters here on 20 September.
The company is also expecting its investor base to grow to 24 lakh from 12 lakh at present. “We feel that our investor base will also double from existing strength because of our investor-friendly schemes,” he said.
The company is planning to open 40 more branches in the current fiscal with an aim to consolidate its position in the market.
“We have plans to raise the strength of our outlets to 100 from 60 at present in the country this year,” he said.
The company is awaiting the approval of capital market watchdog, Sebi, for launching its 2-3 new funds in the market. “These funds could be a mixture of debt and equity, equity-based and debt- based,” he said.
Birla Sun Life offers several diversified and sector specific equity schemes, hybrid funds and a wide range of debt and treasury products.
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First Published: Thu, Sep 20 2007. 04 20 PM IST