Shriram infuses Rs.10 Cr capital to AMC

Shriram Asset Management Company has ambitious plans to grow the mutual fund business and attain leadership in the next 5 – 7 years time. Shriram AMC has recently infused INR 10 Cr capital to the AMC and proposes to add additional 30 cr in the coming one year.

Mr. D Ramanathan, Head of Sales and Marketing, Shriram AMC, said, “Shriram Mutual Fund is positioning itself as one of the unique entities to today’s competitive space by introducing innovative products and widening the product suit to our growing number of customers”. “We are working on launching two new schemes--- pure equity scheme and a hybrid scheme with a high debt orientation--- during the financial year,” Mr. Ramanathan said.

The maiden offering of the company – Shriram Equity & Debt Opportunities Fund, an open ended equity oriented asset allocation fund has delivered 15.91% since inception outperforming its benchmark and sensex by a decent margin. In addition, the fund has declared two dividends in less than a year of launch translating to 13% ie Rs 1.30 per unit under dividend plan. In the recent sharp market correction, the scheme has managed the downside risk exceedingly well and demonstrated consistent performance. Among the peer group, the scheme enjoys the highest portfolio market capitalization of INR 80,000 Crore (source- Value Research). The fund is managed by Partha Ray who is an alumnus of IIT – Kharagpur & IIM – Bangalore with a rich experience of over 2 decades in the financial services domain.

The company has introduced a first of its kind feature – ANY DAY SIP effective August 2015, which allows the investor to choose his or her sip date any day from 1 to 30th of a month. This is a departure from the industry practice of choosing specified dates in a month targeting broader class of investors including small businessmen, entrepreneurs and traders in addition to salaried classes.