Birla Sun Life Asset Management Company's assets under management (AUM) rose over 70 per cent to over Rs 22,000 crore during the current fiscal, making it a rank 5 player in equities.
The company, which is the fourth largest mutual fund house in the country, has recently completed 20 years and it provides its services to 22 lakh investors.
As alternative assets consolidated, the off-shore business surpassed AUMs of USD 1 billion. Effectively, the business grew 24 per cent y-o-y with overall AUM standing at USD 1 billion.
Birla Sun Life AMC chief executive officer A Balasubramanian said, "The quest for growth and continuous improvement in our business continues and we are now looking ahead to surpass our own records working single-mindedly in one direction."
On Rajiv Gandhi Equity Saving Scheme (RGESS) which has already closed, he said: "We collected around Rs 100 crore from the fund launch."
The company has crossed the mark of Rs 1 lakh crore in AUM in the recent past.
On the equity market outlook for 2015, Balasubramanian said that falling commodity prices are helping India to pre-pone inflation, fiscal and external correction.
He said the cut in interest rates should set the stage for cyclical push to economic growth.
"We expect cyclical recovery in economy with average GDP growth of 6.5 per cent over the next 3-4 years with exit GDP growth of approximately 7.5 per cent," he said.
The corporate profitability is likely to improve over the next 3-4 years as the economy sees a cyclical uptick, clocking CAGR of 17 per cent, driven by higher revenues, operating leverage and interest rate costs saving driving earnings per share (EPS) growth, he added.
