With an aim to double its investor base this year and a medium-term target to join the five largest fund houses in the country, Sahara Mutual Fund is planning to launch over half a dozen new funds this year.
This will be followed by a slew of other funds next year, including one exchange traded fund as well, Sahara Mutual Fund CEO N K Garg said.
"We have plans to launch nine funds this year, out of which two have already been launched and would be soon followed by seven others," Garg said.
A banking and financial services fund, second for this year, was launched on July 28 and would close on August 26.
Besides, we are looking to launch our first exchange traded fund (ETF) in 2009, Garg said.
The seven funds in the pipeline for this year include an interval FMP (Fixed Maturity Plan) fund and a Fortune Child Fund, besides liquid and index funds, he added.
Garg said the fund house's earlier offering of Power and Natural Resources scheme had received 10,000 applications and gathered about Rs 8.5 crore.
Outlining an aggressive business plan, Garg said the fund house, which currently has around one lakh investors, is looking to double its investor base by the end of this year.
Sahara MF would also look at leveraging from the vast depositors' base and extensive distribution network of Subrata Roy-led Sahara group's para banking business, he added.
"The para-banking business of Sahara Group has about four per cent of total population of the country as its clients and this provides a huge opportunity for us to expand our reach," Garg said, adding there could be a significant synergy between the various businesses of the group such as insurance, para-banking and mutual fund.
