Mirae Asset Mutual Fund has completed more than 10 years in India and is now establishing a stronger foothold in the Indian Mutual Fund Industry. Mirae Asset Mutual Fund AUM has crossed the important threshold of INR 25,000 crores* (as on 12th March 2019) and the company witnessed a growth of more than 50% in 2018 calendar year. Mirae Asset is one of the fastest growing AMCs in India based on the rate of AUM growth and even industry participants are recognizing the same. The journey over the last 4 ½ years has been even more impressive with more than 50 times growth in AUM (AUM was INR 500 crores on 31st July, 2013). (* ~ 22,000 in Equity and 3,100 in Debt)
The AMC has broken into the Top 16 AMCs based on AAUM and is at 12th position based on Equity Assets (Source: ACE MF, data as on 28th February 2019). Mirae Asset has witnessed a significant surge in the number of investor folios with more than 12 lakh investor folios (including more than 6.7 lakh SIP investors) as on 28th February 2019. The SIP flows have also grown significantly and have grown 10X from INR 29 crores in March’16 to monthly inflows of INR 290 crores in February ’19.
Mr. Swarup Mohanty, CEO, Mirae Asset Global Investments (India) Pvt. Ltd. commented “It has been a great journey for Mirae Asset India over the last couple of years with robust growth. We have sought this position by maintaining a performance track record, risk management framework and customer centricity which has been instrumental in winning trust of our clients as well as distributor partners. The growth in SIP flows is the most significant achievement, as the SIP is a forward call on an organization by both advisors as well as investors. We are extremely happy to see the faith in us growing amongst advisors and investors. It is our endeavor to provide good investment experience for our investors and help them in their wealth creation journey.”
In addition to providing the traditional equity and fixed income products, Mirae Asset increased its footprint into the Alternate Product space. Mirae Asset Group ventured into Venture Capital, Real Estate, Capital Markets and Alternate Investment Products in 2018.
Mirae Asset (India) also provides Advisory Services to Hong Kong office for Equity Investments and Korea offices for both Equity and Debt Investments. Mirae Asset India provides advisory services to 650 million USD in assets (510 million in Equity and 140 million in Debt) as on 28th February 2019.
Mirae Asset Group set up an up investment banking and broking business through Mirae Asset Capital Markets(India) Pvt. Ltd in 2018.
Mr. Swarup Mohanty, CEO, Mirae Asset Global Investments (India) Pvt. Ltd. commented “It has been a great journey for Mirae Asset India as we are expanding the business across asset classes and providing our investors with varied investment options.” He added “We believe 2019 is going to be a landmark year for our organization. We believe 2019 will continue to be an exciting year for us as we continue to strengthen our product offering across asset classes. We are very happy with the satisfactory performance of our funds and hope to continue this good work going forward”.
The AMC has a branch in Chennai since 2008. The AUM of the AMC in Chennai is more than INR 1,100 crores as on 31st January 2019from 685 crores in 31stDecember 2017, and has grown by more than 50% in the last calendar year. The AMC has close to 39,000 investor foliosthrough the SIP route and the SIP book stands at INR 17.2 crores per month. Mr. Swarup Mohanty, CEO, Mirae Asset Global Investments (India) Pvt. Ltd. commented “Chennai is a very important market for Mirae Asset. We have been seeing good growth and we hope to strengthen our position in this market. We hope to add Cochin as a branch in this calendar year”.