Birla Sun Life Asset Management Company today said its domestic equity assets under management (AUM) has crossed Rs 16,000-crore mark.
"Our total domestic equity AUM has crossed Rs 16,000 crore mark because of recent inflows into our equity assets", Chief Executive A Balasubramanian said, adding that the same is likely to touch Rs 50,000 crore over the next five years.
"We currently manage over Rs 1,00,000 crore of total AUM, which includes equity AUM close to Rs 20,000 crore, including domestic and offshore advisory," he said.
"Now with the equities looking good for long-term perspective and lots of domestic investors having very low exposure to equities, one can see the inflows into equities as an asset class to improve significantly over next few years," he added.
Of the total inflow of Rs 2,888 crore, the company alone garnered Rs 450 crore as on date.
"We have seen people who were bullish on equity funds, still sitting on the fence. But they are investing now", he said.
The company has witnessed a net inflow of Rs 1,100 crore during the period beginning December 2013 until now.
"We are bullish on equities and hope this will continue in future too", he said.
The total equity AUM of the industry, currently at Rs 2 trillion, is likely to cross Rs 5 trillion over next five years.
