Amid volatility in the capital market, Kotak Mahindra AMC is expecting its assets under management (AUM) in the current fiscal to grow 12-15 per cent, which would be in line with the growth of the industry, an official said here on July 17.
"We expect industry assets to grow by 12-15 per cent and Kotak MF will also grow in line with the industry," the company's sales and marketing head Manish Mehta said.
Kotak AMC's asset under management is Rs 1.7 lakh crore and of which Rs 50,000 crore is in equity.
The quarterly average AUM of Indian mutual fund industry is about Rs 25.51 lakh crore at the end of Q1FY20 (April to June) as against Rs 24.48 lakh crore at the end of Q4 FY19 (January to March), according to the Association of Mutual Funds in India (AMFI).
Mehta said SIPs continue to be strong for the mutual fund sector with an addition of about Rs 8,000 crore per month and other domestic institutions such as investment of employees' Provident Fund Organisation will help the sector to finish the fiscal with decent growth.
"Kotak's SIP book is Rs 500 crore per month and rising year on year. We aim to rope in new investors and our unique zero balance folio concept helps us in this endeavour," Mehta added.
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