By: Faizan Rizwan
Mirae Asset Global Investments (India) Makes An Ompact
Mirae Asset Mutual Fund has completed more than a decade in India & is now establishing a stronger foothold in Indian Mutual Fund Industry. Mirae Asset Mutual Fund AUM has crossed an important threshold of INR 25,000 crores* (as on 12th Mar, 2019) & company witnessed a growth of more than 50% in 2018 calendar year. Mirae Asset is one of fastest growing AMCs in India based on rate of AUM growth & even industry participants are recognizing same. The journey over last 4 ½ years has been even more impressive with more than 50 times growth in AUM (AUM was INR 500 crores on 31st Jul, 2013). (* ~ 22,000 in Equity & 3,100 in Debt).
The AMC has broken into Top 16 AMC’s based on AAUM & is at 12thposition based on Equity Assets (Source: ACE MF, data as on 28th Feb, 2019). Mirae Asset has witnessed a significant surge in number of investor folios with more than 12 lakh investor folios (including more than 6.7 lakh SIP investors) as on 28th Feb, 2019. The SIP flows have also grown significantly & have grown 10X from INR 29 crores in Mar, 2016 to monthly inflows of INR 290 crores in Feb, 2019.
In addition to providing traditional equity & fixed income products, Mirae Asset increased its footprint into Alternate Product space. Mirae Asset Group ventured into Venture Capital, Real Estate, Capital Markets & Alternate Investment Products in 2018. Mirae Asset (India) also provides Advisory Services to Hong Kong office for Equity Investments & Korea offices for both Equity & Debt Investments.
Mirae Asset India provides advisory services to 650 million USD in assets (510 million in Equity & 140 million in Debt) as on 28th Feb, 2019.
Mirae Asset Group set up an up investment banking & broking business through Mirae Asset Capital Markets(India) Pvt. Ltd in 2018. The AMC has a branch in Chennai since 2008.
The AUM of AMC in Chennai is more than INR 1,100 crores as on 31st Jan, 2019 from 685 crores in 31stDec, 2017 & has grown by more than 50% in last calendar year. AMC has close to 39,000 investor folios through SIP route & SIP book stands at INR 17.2 crores per month.
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