Mahindra Asset Management Company, the investment manager for Mahindra Mutual Fund, plans to launch four or five new products in the coming financial year.
The focus will be on tapping the potential in small markets, MD and CEO Ashutosh Bishnoi said at a press meet on the Mahindra Pragati Bluechip Yojana here on Wednesday, adding the plan is to increase the presence to 500 cities from the existing 350 in the next one year.
With regard to the new products in 2019-20, he said four or five were likely to be launched as against three this fiscal. In doing so, the company would also look to include a corporate bond fund as part of the offerings.
Mr. Bishnoi was responding to queries at a media interaction on the Mahindra Pragati Bluechip Yojana here on Wednesday. It is the 9th products being launched by the company. According to a release, the product is aimed at investors seeking long-term capital appreciation and growth opportunities by investing in a portfolio constituted of predominantly equity and related securities, including derivatives of large cap companies.
The New Fund Offer opens on February 22 and closes on March 08. The scheme will reopen for continuous sale and repurchase within five business days from the date of allotment.
The Assets Under Management (AUM) of Mahindra Mutual Fund, in the two and a half years of operations, touched ₹5,000 crore last month. Of this, ₹1,800 crore is from retail investors and Rs.3,000 crore from institutional investors, he said.