The fund house’s equity focus has fetched it a place in the top 10 Indian AMCs. Will its neglect of debt hurt?
In December last year, Mirae Asset Investment Managers (India), the Indian mutual fund business of South Korea’s Mirae Asset Global Investment Holdings, broke into the ranks of the country’s top 10 mutual fund houses by assets under management, dislodging DSP Investment Managers.
With assets under management, or AUM, of Rs 1.15 lakh crore, Mirae is just Rs 2,100 crore short of ninth placed IDFC Mutual Fund. There is a high likelihood that in the next couple of months Mirae will dislodge IDFC Mutual Fund—which saw its AUM decline in 2022—and move up the pecking order.
This is no mean feat …
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi