NewZNew (Chandigarh) : Birla Sun Life Asset Management Company Limited (“BSLAMC”), a part of Aditya Birla Financial Services Group, investment manager for Birla Sun Life Mutual Fund (“BSLMF”) and the 4th largest asset management company in India, completes 20 years of wealth creation in relentless service to over 2.2 million investors.
Among the key achievements in its 20th year of business, BSLAMC became the fourth fund house in India to have assets in excess of INR 1 lakh crore under management. Other milestones which helped consolidate its market position as one of the leading fund houses of the country included a resurgent performance in equities. The money management practice has also served investors well by demonstrating excellence in a period marked with challenges.
Speaking on BSLAMC’s journey Ajay Srinivasan Chief Executive – Financial Services, Aditya Birla Group said, “Birla Sun Life AMC has been one of the flagship businesses of Aditya Birla Financial Services Group and is one of the fastest growing business within the Mutual Fund industry. BSLAMC has grown from strength to strength over the last 20 years and our performance is a testimony to our fund management capabilities and the trust customers repose in us. We remain committed to expand the reach of mutual funds in India, as we make a positive influence in the life of our discerning customers and channelize further savings into the economy.”
BSLAMC’s equity AUM grew in excess of 70% to over INR 21,000 crores, making it a Rank 5 player in Equities. As alternate assets consolidated, the Offshore business surpassed AUMs of US$ 1 bn. Effectively the business grew 24% y-o-y with overall AUM standing at US$18 bn as of October 2014.
Commenting on the occasion of the organization’s 20thAnniversaryA. Balasubramanian, CEO, Birla Sun Life Asset Management Company Limited said, “It is a proud moment for us at Birla Sun Life AMC. Our people are our core strength and our achievements are a result of the collective efforts of the entire team working single-mindedly in one direction. The quest for growth and continuous improvement in our business continues and we now look ahead to surpass our own records working closely with our partners. This is an ongoing journey for us and we are deeply committed to build the business to the next level while serving an increased number of customers as well as distributors.”