Lotus India MF crosses USD 1 billion of AUM

Mumbai, July 4: Lotus India Asset Management Company Private Limited (LIAMC), today announced that it has crossed USD 1 billion of assets under management (AUM) as on June 30, 2007.

In a press release issued here, LIAMC said that they have witnessed remarkable growth in AUM from Rs 3623 crore as on May 31, 2007 to Rs 4165.36 crore as on June 30, 2007; a growth of around 15 per cent, thus making it one of the fastest growing fund houses in this period.

In the release, Ajay Bagga, CEO, LIAMC, said, ''We are pleased with the growth momentum sustained over the past eight months. We had launched our operations in India with a vision of creating an extensive retail footprint and providing best in class products and services to retail as well as institutional investors. We have been able to make our presence felt in the industry with offerings across a range of products across both Equity and Debt. Our focused growth strategy has translated into a rapidly increasing distribution network and our growing AUM is a reaffirmation of the faith reposed in us by our investors and distributors.''

UNI