Mirae Asset MF assets under management crosses Rs 1 lakh crore

Mirae Asset Investment Managers (India) Pvt Ltd on Wednesday said its assets under management have crossed the Rs 1 lakh crore mark.

Mirae Asset, which began its journey in India in 2008, crossed the threshold as on October 14, 2021, the fund house said in a statement.

It, further, said that growth in assets under management (AUM) over the last five-and-a-half years has been around 10 times.

The fund house's investors folio reached 43.7 lakh with close to 15.4 lakh Systematic Investor Plan (SIP) investors.

"The growth in SIP flows is the most significant achievement, as the SIP is a forward call on an organisation by both advisors as well as investors," Swarup Mohanty, Chief Executive Officer, Mirae Asset Investment Managers (India) said.

"The AMC is charting the future growth strategy with a focus on a fixed income and passive offerings, along with equity where it has already created a strong foothold," he added. Mirae Asset currently manages 8 equity funds, 3 Hybrid Funds, 9 open-ended debt funds, 6 ETFs, and 4 funds of fund schemes.

Mirae Asset Group has also increased footprints in other financial verticals Broking, Lending (NBFC), Private Equity, Real Estate, and Alternate Product space, and the firm continues to expand its product offering across asset classes. At present, the mutual fund industry has 45 players, which together manage assets worth over Rs 36 lakh crore.