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BNP Paribas Mutual Fund is eyeing a 20 per cent growth in its average assets under management (AUM) for 2017-18, Anand Shah, Deputy Chief Executive Officer and Chief Investment Officer, BNP Paribas Asset Management India, has said.
“We expect our existing equity funds to help achieve this target. The balanced fund that we have launched now will help surpass the target. When we targeted 20 per cent, we did not even anticipate the launch of this balanced fund,” Shah told BusinessLine here. He was in the capital for the launch of BNP Paribas Balanced Fund, an open-ended fund that opened for subscription on March 17.
BNP Paribas Mutual Fund’s product mix largely comprises equity funds and fixed income products, and less of money market funds.
“While remaining focussed on retail equity and fixed income, we believe we can grow faster than the industry. We see ample opportunities to organically grow our equity funds. We can, on an overall basis, grow more than 20 per cent in 2017-18,” he said.
Shah sees an upside in corporate earnings in the coming months. “We are already saying that our portfolio did not have any earnings issue in the past three years. We are believers that there is enough number of companies that can grow in excess of 15 per cent,” he added.
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