Money & Banking

Asset under IDFC Mutual Fund crosses Rs 1 lakh crore

Our Bureau Mumbai | Updated on October 23, 2019 Published on October 23, 2019

The fund house now manages over one million investor folios representing leading institutional, family-office and individual clients in over 200 cities

The asset under management of IDFC Mutual Fund has  crossed Rs 1 lakh crore earlier this month.

At a time when the industry AUM saw a growth of 4 per cent between April to September, IDFC Mutual Fund’s AUM grew by 39 per cent.

During this period, the fund house saw a growth of Rs  56,973 crore in its non-cash Fixed Income business, a growth of 48 per cent.

The fund house now manages over one million investor folios representing leading institutional, family-office and individual clients in over 200 cities across the country.

Vishal Kapoor, CEO, IDFC Asset Management Company said the growth was diversified across segments and channels over long-term.

"We picked up pace in welcoming more new clients, SIPs as well as activating new distribution partners," he said.

To continue with its growth, IDFC AMC plans to focus on well-designed products,  convenient investing process  and simple easy-to-understand communication for its customers.

The fund house will continue to invest in fund management capabilities, technology, sales team and sales technology.

Published on October 23, 2019
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