Mahindra MF plans to mobilize about 100 crore Rupees from its bonds issue scheme called Mahindra Credit Risk Yojana, Ashutosh Bishnoi, Managing Director and Chief Executive of the fund house, said to media persons in Hyderabad on July 23, 2018.
Bishnoi said the Mahindra AMC (Asset Management Company) presently manages about 4,500 crore Rupees of assets, and that the wholly-owned subsidiary of Mahindra and Mahindra Financial Services considers to increase it to about 7,000 crore Rupees by the end of this fiscal year.
Mahindra Mutual Fund is at present “mobilizing funds from about 400 cities and towns in India and was planning to expand it to as much as 500 cities and towns, mostly tier-IV and tier-V towns,” said the fund house’s MD.
Mahindra MF aims to focus on the investors who are looking out for a reasonable income and capital appreciation over the medium to a long-term period for its Mahindra Credit Risk Yojana, bonds issue scheme.
The scheme also suggests investing in moderate to high safety quality investment grade securities.
The bonds issue scheme Mahindra Credit Risk Yojana offers investors a chance to be a part of “India growth story,” by investing in various debt portfolios of basically powerful, high liquid and renowned companies, said Bishnoi, according to The Economic Times.
In the second week of July, Mahindra AMC appointed Mr. V Balasubramaniam, former Chief Investment Officer of IDBI Mutual Fund, as the Chief Equity Strategist of the fund house, based on a press release statement from the AMC.
Balasubramaniam will work as the strategic leader for all the equity scheme activities of the fund house. He will also be managing few fund schemes of the fund house.
Mahindra Mutual Fund has further appointed Mr. Srinivasan Ramamurthy and Mr. Clyton Fernandes as Equity Fund Manager and portfolio management team’s Research Analyst, respectively.
As of June 30, 2018, the AUM of Mahindra MF is around 3,961 crore Rupees covering six MF schemes, reported Money Control.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]