While the industry is facing a few challenges that has not deterred Shriram Mutual Fund to make a comeback by launching Shriram Balanced Fund in September-end. Earlier this month, the AMC had filed a draft offer document with SEBI to launch its open ended scheme.
Shriram MF which started operations in 1994 wounded up all its schemes in 2001. In their previous innings the company had a less than spectacular run with its four to five schemes.
Rohit Chawda, Chief Operating Officer, Shriram MF says, “It’s an ideal time for us to re-start our defunct business as we expect MF industry to grow in the next 2-3 years. This will give us time to establish ourselves in the market.”
With more than 3,000 branches across the country, Shriram group will use its captive network for distribution. The company plans to empanel distributors in T-15 cities while appointing new cadre of distributors in B-15 cities.
The company will target retail investors to collect Rs 100 crore from the NFO of Shriram Balanced Fund. The draft offer document lists Partha Ray as the fund manager.
Sources privy to the development told Cafemutual that Shriram MF is also working out on a plan to launch its dynamic bond fund and liquid fund in the near future.
Shriram AMC is perhaps the only Indian AMC to have come out with an IPO and list itself on any stock exchange.
