Kotak Mahindra MF's AUM grows 18% to Rs 65k cr

Kotak Mahindra Asset Management Co said its asset under management (AUM) has expanded by a healthy 18 percent to Rs 65,000 crore in the current fiscal so far.

"In the current fiscal, asset under management has inched up by 18 percent to Rs 65,000 crore as of now from Rs 55,000 crore as on March 31, 2016," Kotak Mahindra AMC Chief Investment Officer Lakshmi Iyer said after launching Long Term Income (LTI) facility in some its funds.

Reacting to Brexit, she said volatility would stay in the Indian capital market in the short run, but it is also seen as an opportunity for long term value investors.

Though volatility is going to stay for a while, Indian economy is fairly resilient to such events and there is nothing to panic about, Iyer said.

"Whether we will have cold or sneeze is to be seen but we are not going to get pneumonia. RBI and Finance Ministry have assured of all requisite liquidity," she said.

Asked about the effect of Brexit on mutual fund industry, she said though there could be some flow into debt funds, and there are high net worth investors who were waiting for events like this for value buying.

Out of some Rs 13.5 lakh crore investments in mutual fund industry, some Rs 10 lakh crore investment is in debt and related instruments, Iyer said.