ING Vysya MF AUM to touch Rs 7,000 cr

Tiruchirapalli, Sep 25: ING Vysya Mutual Fund will increase its Assets Under Management (AUM) to Rs 7,000 crore before end of December this year, a top official today said.

Talking to reporters here, Country Head, Business Development, ING Investment Management (India) Private Ltd, Mr Vikaas M Sachdeva, said the AUM which stood at Rs 2,400 crore at the beginning of this calendar year, went up to Rs 3,637.72 crore by June end.

This is expected to go up to Rs 5,114.86 crore by September, exhibiting a consistent growth rate of 30 per cent every quarter.

He was hopeful the AUM would touch Rs 7,000 crore before December 2006. The investor base, which was at 30,000 in April 2006, had now gone up to 1.5 lakh. The company was expected to reach nearly two lakh before December 2006.

ING Vysya Mutual would open two more branches at Kanpur and Rajkot by this year-end.

By next year, 12 more full-fledged branches would be opened across the country including the one at Madurai.

He said the southern region was very much encouraging of late with almost 25 per cent of the total volume clocked in the region thereby overtaking the North.

UNI