Sundaram Mutual eyes to add 1 lakh retail investors this year

Chennai-based fund house Sundaram Asset Management Company (or Sundaram Mutual) is looking to add 1 lakh retail investors to its fold by the year-end.
The company, which was set up in 1996, also plans to launch three funds by March, 2017.
At present, the company has 14 products in equity and 10 products in debt.
"As of now, we have 12 lakh retail investors, which include 1 lakh retail investors that were added last year. We are looking at adding 1 lakh more retail investors in the current calendar year and we have already added 15,000 new retail investors so far," Sundaram Asset Management Company's chief executive, Sunil Subramaniam told PTI here today.

The three proposed funds to be launched by Sundaram Mutual over the next one year include Equity Saving Fund, Credit Opportunities Fund and Large and Mid-cap Fund.
"We have filed for three products before Sebi and are waiting for the approvals and plan to launch them by March 2017," he said.

The company with current AUM at Rs 26,000 crore and which plans to cross AUM of Rs 50,000 crore by December 2019, claims to have trebled its systematic investment plan (SIP) transactions on a monthly basis over past two years.
"Sundaram Mutual has trebled its monthly SIP transactions over the past couple of years," he said adding, "The company's current AUM is at Rs 26,000 crore and we plan to cross the AUM of Rs 50,000 crore by December, 2019."

The company has 65 per cent of its funds invested in mid-cap companies.
Talking about their post-Budget strategies, he said, "We will concentrate on mid-cap firms for putting our money which may include industrial, construction and cement."
The company already has Rural India Fund.
"The Budget has proposed to impose tax on the withdrawal of PF money and it may see the release of Rs 3,500 crore worth fund to the MF industry. We are eyeing to tap 5-10 per cent of this flow to our company," he said.