“The Bihar election result will not impact the market’s overall positive outlook,” Vikaas Sachdeva, CEO, Edelweiss Asset Management Company, said. Although there may be a knee jerk reaction, he expected markets to bounce back soon.
He said that markets were gaining a considerable degree of stability from the improved inflows into the SIP (systematic investment plans) of the MF industry during the past few months. He said inflows from investors into these schemes were of the order of nearly ₹2,400 crore every month and this would provide sufficient cushion to absorb occasional shocks.
Edelweiss AMC has also seen good inflows over the past one year. Its assets under management has now touched ₹1,700 crore.
Vikaas said he expects the AUM to touch ₹2,000 crore soon (with over 95 per cent equity inflows) and that the AMC will also break-even at that level, making it among the earliest to do so at such volumes.