 "Uday Kotak, Managing Director of Kotak Mahindra Bank poses for a picture at the company's corporate office in Mumbai")
Kotak Mahindra Asset Management Company (AMC) Limited on Friday said its asset under management (AUM) has expanded by a healthy 18% to Rs 65,000 crore in the current financial year so far from Rs 55,000 crore on March 31, 2016.
Reacting to Brexit, Kotak Mahindra AMC Chief Investment Officer Lakshmi Iyer after launching Long Term Income (LTI) facility in some its funds, said volatility would stay in the Indian capital market in short run, but it is also seen as an opportunity for long term value investors.
Though volatility is going to stay for a while, the Indian economy is fairly resilient to such events and there is nothing to panic about, Iyer said.
"Whether we will have cold or sneeze is to be seen but we are not going to get pneumonia. RBI and Finance Ministry have assured of all requisite liquidity," she said.
Asked about an effect of Brexit on mutual fund industry, she said though there could be some flow into debt funds, and there are high net worth investors who were waiting for events like this for value buying.
Out of some Rs 13.5 lakh crore investments in mutual fund industry, some Rs 10 lakh crore investment is in debt and related instruments, Iyer said.
