Birla Sun Life Mutual Fund strengthens Chandigarh presence

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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[1] mutual fund in India, is strengthening its foot hold in Chandigarh. The fund house intends to increase its market share by showcasing its products and processes to prospective investors and distributors. BSLAMC aims at capturing a large piece of Chandigarh’s market share by focussing on 3 pillars of its success – Clarity, Commitment and Consistency.

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On his visit to the city for Investment Voyage 2015, BSLAMC’s flagship Distributor Meet, A. Balasubramanian, CEO, Birla Sun Life Asset Management Company said, “Punjab has a 0.94%[2]share of India’s overall Mutual Fund investments of Rs. 12,07,720[3] crores. Chandigarh clocks in 0.27%[4] market share. The market’s potential remains to be tapped as a lot more investors stand to benefit from mutual fund investments. We believe that we can help increase this number significantly.Our efforts to increase mutual fund penetrationled to a significant increase in foliosover the last year, and our Investment Voyage event in Chandigarh today, is only another step in this direction.”

“We have seen a strong interest in equity from Chandigarh, a testimony of the investors’ interest to participate in equity and thus in India’s growth story. SIPs are also gaining favouracross Punjab as more and more investors are beginning to realize the power of compounding”, A. Balasubramanian added.

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Mahesh Patil, Co-Chief Investment Officer, Birla Sun Life Asset Management Company said “This is the time for investors to make additional allocation and stay invested in equities. Equities do well in a period of increasing economic growth and lower inflation – the combination which exists today. Exiting from equity mutual funds might be easy and attractive now, but re-entry would be difficult and could be at higher levels.”

BSLMF recently became the 4th fund house to enter the 1 lakh crore[5] AUM club and its AAUM stands at Rs. 1,22,452[6]crores. The growth in BSLMF’s AUM has largely been driven by the consistent and sustained performance of its equity funds. BSLMF’s equity AUM grew in excess of 120% to over Rs. 25,883[7] crores, making it one of the fastest growing fund housein Equities. The company’s flagship fund Birla Sun Life Frontline Equity has an AAUM of Rs. 8599[8] crores as of March 31, 2015.