The fund house, which announced the launch of the country’s first international realty fund of funds, which opened on Monday, has also doubled its subscriber folio during the first six months of the current fiscal to 2.44 lakh at the end of March. A little over 5 lakh by the end of October 2021.
The fund house expects its total AUM to cross Rs 20,000 crore mark by March 2022, of which Rs 18,000 crore will be mutual fund assets.
The highly disorganized domestic mutual fund industry with around 50 players has seen its total assets under management (AUM) rise to a record Rs 38.21 lakh crore as of October-end, according to data released by industry lobby Amphi.
PGIM India Mutual Fund Closed FY 2011 with a total AUM of Rs 9,400 crore, of which Rs 6,900 crore was mutual fund assets and the rest was PMS and advisory AUM.
“Our total AUM has increased from Rs 9,400 crore at the end of March 2021 to Rs 17,700 crore at the end of October. Out of this, Mutual Fund AUM has doubled from Rs 6,900 crore to Rs 15,000 crore (as on 10 November) by March 2021 and the remaining Rs 2,700 crore has come from AUM advisory services and PMS. We have more than doubled AUM in just six months as our target was March-end 2022,” said Ajit Menon, CEO, PGIM India Mutual Fund told PTI on Friday.
Of mutual fund assets, equity AUM nearly tripled during the first half – from Rs 4,400 crore at the end of March to Rs 12,370 crore at the end of October, thanks to a sharp rally in the market.
“But what is more interesting is that 70 percent of our growth came from new sales, while the industry grew only 30 percent on this front during the period and 70 percent of the industry growth was driven by growth. This is clearly underscored by the doubling of our investor folios during this period, from 2.44 lakh at the end of March to over 5 lakh at the end of October, while the industry added just 14 per cent more folios,” Menon said.
He said year-on-year, overall industry growth rose 17 per cent to Rs 38.21 lakh crore as of October-end, with equities and fund of funds coming in at 29 per cent, while that for PGMs grew by 130 per cent, he said.
Menon said out of the total non-MF assets, total international fund assets have increased from Rs 850 crore in March to Rs 2,000 crore now. Of this, Global Equity AUM is around Rs 1,750 crore and Emerging Markets Fund is around Rs 250 crore.
Its small cap fund which started with Rs 500 crore last year is now Rs 1,300 crore, he said, adding that it needs at least Rs 750 crore (US 100 million USD) from its newly announced global Select Real Estate Securities Fund of Fund. USD) is expected to collect. March.
Menon said the new scheme is the first such fund in the country and it will hit the market on Monday and will close on November 29.
The fund house has also increased the number of its advisors from 3,000 in March to over 5,000 now.