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HSBC Mutual Fund has crossed the AUM milestone of Rs. 1 lakh crore. With this, HSBC became the 14th fund house reaching this AUM milestone.
In a press release, Kailash Kulkarni, CEO, HSBC MF, said, “The future of mutual funds in India is very promising. Mutual funds have become an increasingly popular investment option for Indians in recent years. The industry is expected to continue to grow in the coming years, driven by several factors, including the growing middle class and youth population in the country, rising affluence of Indian investors, online investing becoming a preferred choice, etc. My belief is that the industry should soon have 10 crore unique investors from the current 3.7 crore in the next few years.”
The company said that it is leveraging its geographical presence to grow its distribution network to capture opportunities in the growing asset management market in India, in addition to leveraging the HSBC group's relationships across corporates, retail and high net-worth individuals.
