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Shriram Mutual Fund (SMF) — a fund house that started its journey in late 2013 — is open to acquisitions for growth, a top official has said.
“Although a late entrant in the mutual fund industry, SMF is committed to grow business and is eyeing leadership position in this space in the next five to seven years,” said D Ramanathan, Head of Sales & Marketing, Shriram Asset Management Company. “We are open to inorganic growth,” Ramanathan told BusinessLine here. SMF is also toying with the idea of launching two new schemes — a hybrid fund and a pure equity fund — in the next six months, Ramanathan said.
SMF’s first scheme — Shriram Equity and Debt Opportunities Fund — was launched in November 2013 and is an open-ended equity oriented scheme. As on date, the total assets managed under this scheme stood at about ₹35 crore, Ramanathan said. He also said the fund house would soon come out with a “breakthrough” feature for this scheme so as to address equity investors’ biggest concern — capital protection.
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