Birla Sun Life AMC aims to build its size across segments

Mumbai, Sep 13 (PTI) Birla Sun Life Asset ManagementCompany (AMC) aims to build its size across categories in thecurrent fiscal, a top company executive said today. The fourth largest fund house in the country, with anaverage assets under management at Rs 1.68 trillion as onAugust, has already consolidated nine funds under categorieslike equity and fixed income in the last fiscal. "We have already consolidated nine funds falling undercategories like equity and fixed income in the last fiscal.Now our aim is to build size," Birla Sun Life Asset ManagementCompany CEO A Balasubramanian said today. The executive was speaking on the sidelines of thelaunch of FinGo Partner -a distributor centric mobileapplication. Balasubramanian claimed that the company has alreadygained leadership position in terms of front-line equity fund. "We have chalked out a strategy to achieve leadershipin other categories like multi-cap, balanced fund, fixedincome and medium term funds over next few months", he added. "Currently we are the largest in the large-capcategory. Against the industry size of Rs 1 trillion, BSL AMCwas having a size of Rs 14,000 crore under the category,"Balasubramanian said. The company is having two major products falling underthe multi-cap category, including Equity and Advantage funds. "In the multi-cap category, the industry size of whichwas currently at Rs 1.7 trillion, we have already achieved thesize of Rs 8,000 crore so far. We are looking at making itto Rs 20,000 crore in the next one-and-a-half years," he said. In the Balanced Fund category with an industry size ofRs 35,000 crore, the company is having a product – Balance 95. "Our Balanced Fund category was currently sized at Rs4,000 crore and we want to take it to Rs 10,000 crore by thefiscal-end," the CEO said. "We are targeting to offer long-term debt products tothe investors at a time when the interest rate on FixedDeposits are falling," Balasubramanian added. Under its retail fund segment known as Medium TermPlan, the firm is mulling to increase its AUM from currentlyexisting Rs 6,500 crore to Rs 12,000 crore by fiscal-end, theCEO added. The company has a Dynamic Bond fund under the long-termdebt products category which is having the industry size of Rs70,000 crore. "We have an AUM of Rs 14,000 crore in the saidcategory and want it to take it to Rs 20,000 crore by June,"said. PTI KD NRB MRBAS