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Shriram Asset Management Co (SAMCL) is planning a couple of new fund offers in 2015-16. SAMCL Managing Director AK Singh said here on Thursday that the AMC was planning one or two new funds in the forthcoming financial year.
Currently, it has only one equity-oriented scheme, launched in 2014. He indicated that one of the new fund proposals is likely to be a debt-oriented monthly income plan. “The new fund plans are on the drawing board. One of them could have predominant bias on debt instruments compared to equities,” Singh confirmed.
The existing open-ended Equity and Debt Opportunity Fund has given a return of 33 per cent till December 2014. Its AUM is worth ₹34 crore. The scheme has 65 per cent of its investments in equities.
The AMC is also trying to tap more into Shriram Group’s clients such as depositors or borrowers. At present, its maiden mutual fund has penetration among 5,000 clients.
“But Shriram Group has a pool of 30 lakh fixed depositors. We are also training a portion of our distributors of other financial products in selling mutual funds,” Singh said.
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