The Hindu Business Line : HSBC AMC on expansion drive

HSBC Asset Management Company is setting out on an expansion drive, according to Mr Sanjay Prakash, Chief Executive Officer, HSBC Asset Management India Private Ltd. The mutual fund company is opening three new branches — at Ahmedabad, Hyderabad and Pune - and also beefing up the investment team.

According to Mr Prakash, HSBC AMC's focus would be on maintaining high performance and uniform customer experiences rather than a strategy of multiple product launches. A floating rate fund would be the only addition to the product portfolio currently, he said.

Detailing the product strategy, Mr Prakash said that HSBC AMC is focused on launching good, simple and easy to understand products rather than any product that catches the industry's fancy. "We would be seeking to provide the same quality to all our customers across all our products. It should be like buying a cake of soap," he said.

"Business has grown faster than our expectations. We would be beefing up our team by nearly 40 per cent. The investment team would be doubled to 10 people," he said.

The geographical spread would initially be focused in towns where HSBC Bank has a strong presence. With the three new branches, the AMC is directly present in eight cities across the country. "The brand is very well recognised in over twenty towns and infrastructure and business-wise these towns would be our first points of expansion," he said.

The sales focus of the AMC would be retail led. The AMC currently has over one lakh investors. "We would be using banks, and other institutional distributors to ensure optimal retail coverage. We are not going to chase only corporate money. In fact, our average ticket size is decreasing every month," clarified Mr Prakash.

The AMC would also be launching a portfolio management service, later this year ,he said.

More Stories on : Asset Management Companies

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Govt offers IPCL shares to staff at Rs 57

Allahabad Bank to vend UTI-MF products

Bulls prevail

Over 3 lakh ONGC shares auctioned

Sugary attraction

Patni Computers stock bounces back

Reliance: Outlook positive, buy April futures

HSBC AMC on expansion drive

UTI sponsors appoint agencies to value shares of asset co

Buying interest in heavyweights pushes up Sensex