The Chennai-based company, which launched two tax savings closed ended schemes today, was on track to reach the target of Rs 40,000 crore AUM in three years, Sundaram Mutual Fund Managing Director Harsha Viji said.
"We have been growing rapidly. Currently, our Assets Under Management is Rs 22,000 crore, which we believe will reach Rs 25,000 crore by end of financial year," he told reporters.
On the proposal to reach Rs 40,000 crore AUM, "We are very much on track to reach it. We should be able to reach in two-three years."
Sundaram Long Term Tax Advantage Fund aims to invest 80 per cent to 100 per cent of the scheme's assets under management in equity and equity related, while Sundaram Top 100 aims to invest 95-100 per cent in large-cap, mid-cap diversified 40-45 stock portfolio.
Both these funds which open today, come with a three year lock-in period, he said, adding that Sundaram Long Term Fund ends on March 20,2015 while Sundaram Top 100 (series IV) alone will end on January 16,2015.